Boat Rental Market is Anticipated to Flourish at an Average CAGR of 5.4% and hit US$ 27.9 Billion from forecast 2023 to 2033 | Future Market Insights, Inc.

The projected growth of the boat rental market during the forecast period can be attributed to the flourishing marine tourism industry and the increasing demand for luxury boats and charters. Several Islands, Coastal Areas, and Private Islands are expected to Flourish the Regional Growth

NEWARK, Del, July 04, 2023 (GLOBE NEWSWIRE) -- The boat rental market is anticipated to expand its roots at an average CAGR of 5.4% between 2023 and 2033. The market is expected to have a market share of US$ 27.9 billion by 2033, while it is likely to be valued at US$ 16.5 billion in 2023

The restoration of the travel and tourism industry increased per capita income, and higher living standards are promoting market growth. Furthermore, faster and smoother boat-renting modules are projected to transform the market.

The advent of boat renting management software coupled with the integration of artificial intelligence, machine learning, and advanced data processing is propelling market growth.

Governments worldwide invest in their coastal lands to develop tourist places and promote boating activities. The authorities also put islands on lease for higher maintenance.

Boat renting companies are also investing capital in developing beaches, building resorts, and promoting water sports. Thus, higher sales of boat rentals are expected during the forecast period.

Find an overview of the boat rental market size and forecast along with the research methodology. This Sample report is available in PDF format:

Advanced packages such as boat renting, resort camping, and water sports activities are delivered to the end users. Affordable packages are flourishing in the market growth.

Key Pointers:

  • The United States market leads the boat rental market in terms of market share in North America. The United States region held a market share of 14.0% in 2022. The growth in this region is attributed to the higher competition among boat renting companies, rising tourist footfall, and enhanced water sports. The North American region held a market share of 25% in 2022.
  • The Span market is another important market in the European region. The market thrived at a CAGR of 6.1% between 2023 and 2033. The growth is attributed to the higher coastal land, government efforts, and private investments. The European region held a market share of 22% in 2022.
  • The Malaysia boat rental market held a market share of 7% in 2022. The growth is attributed to government efforts, beautiful beaches, and tourist activities.
  • The Maldives market thrives at a CAGR of 6.1% between 2023 and 2033.
  • Based on propulsion type, the full-powered segment leads the market, holding a substantial share in 2023.
  • Based on the boat size type, the Up to 20 feet segment leads the market as it holds a leading market share.

Competitive Landscape:

The key vendors focus on easing the rent management space, affordable rent, and adding various choices for the end users. Market players are also helping boat owners to rent their boats online. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Major Players are:

  • GetMyBoat (San Francisco)
  • Groupe Beneteau (Croix-de-Vie)
  • Boatsetter (Florida, USA)
  • Sailo (Greater New York)
  • Incrediblue (London)
  • Boatjump (Valencia, Spain)
  • Globesailor (Paris, France)
  • Click&Boat (Paris, France)
  • Zizoo (Berlin, Germany)
  • Nautal (Barcelona, Spain)

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Recent Market Developments:

  • Groupe Beneteau has introduced the ‘Pick, Click, and Go Boating’ campaign while making boat rental easy. The company has recently entered exclusive negotiations with trigano.
  • Click Boat has extended its yacht offering with motor power, size, capacity, fuel type, and height options.

Key Segmentations Covered:

By Propulsion Type:

  • Fuel Powered
  • Sail Boat
  • Electric Boats

By Boat Size:

  • Up to 20 feet
  • 21 to 35 feet
  • Above 36 to 50 feet

By Boat Class:

  • Luxury
  • Sports
  • Entry

Key Regions Covered:

  • North America
  • United States
  • Canada
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Europe
  • Germany
  • United Kingdom
  • France
  • Spain
  • Russia
  • Rest of Europe

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Table of Content (ToC):

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Billion) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Billion) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Boat Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Billion) Analysis By Boat Type, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Billion) Analysis and Forecast By Boat Type, 2023 to 2033

        5.3.1. Inboard Boats

        5.3.2. Outboard Boats

        5.3.3. Sail Boats

        5.3.4. Others

    5.4. Y-o-Y Growth Trend Analysis By Boat Type, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Boat Type, 2023 to 2033

Read More about complete ToC here:

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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