Boat Rental Market to Reach $31.2 Billion by 2031: Allied Market Research

Increase in the growth of the marine tourism industry, rapid development of online platforms for availing boat rental services, rise in disposable income among people, increase in inclination towards alternative sources of energy, and rise in sea-based tourist activities including boating, cruising, yachting, and nautical sports drive the growth of the global boat rental market. Decline in tourism and cancellation of all sorts of outdoor activities during the pandemic had a negative impact on the market.


Portland, OR, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global boat rental market generated $18.2 billion in 2021, and is projected to reach $31.2 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Boat Rental Industry Report Coverage & Details:

Report CoverageDetails
Forecast Period2022–2031
Base Year2021
Market Size in 2021$18.2 billion
Market Size in 2031$31.2 billion
CAGR5.7%
No. of Pages in Report263
Segments CoveredBoat type, boat size, power, activity, and region.
Drivers Increase in the standard of living
Increase in the growth of the marine tourism industry
OpportunitiesRapid development of online platforms for availing boat rental services
Rise in sea-based tourist activities including boating, cruising, yachting, and nautical sports
RestrainsHigh cost associated with renting a boat
Limited to specific consumers

COVID-19 Scenario:

  • The COVID-19 pandemic had a negative impact on the growth of the global boat rental market, owing to the presence of lockdowns as imposed by the government of various countries across the globe.
  • Lockdowns resulted in the closure of all sorts transportation, including aircraft, land and water transportation, which adversely impacted the growth of the market.
  • This was mainly due to the stringent social distancing restrictions from the government so as to curb the spread of the virus during the pandemic.
  • Furthermore, closure of manufacturing facilities of boats and yacht during the pandemic  aggravated the impact on the market. However, the market is expected to recoup soon.

The report offers detailed segmentation of the global boat rental market based on boat type, boat size, power, activity, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

Based on boat type, the inboard boats segment held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments such as outboard boats, sail boats, and others.

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Based on boat size, the less than 30 ft segment held the lion’s share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The greater than 79 ft segment, on the other hand, is expected to cite the fastest CAGR of 6.9% during the forecast period.

Based on region, the market across Europe held the dominating market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.5% during the forecast period.

The key players analyzed in the global boat rental market report include GETMYBOAT Inc., Groupe Beneteau, Boatsetter, Inc., Globesailor, Click & Boat, Zizooboats GmbH, Nautal, Sailo, Incrediblue, Boatjump, Blue Boat Yacht Entertainment Company, Brunswick Group.

The report analyzes these key players in the global boat rental market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market. 

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