Boat Rental Market To Grow at a CAGR of 5.4% During 2023-2028 | IMARC Group

IMARC Group's latest research report, titled "Boat Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global market.

The global boat rental market size reached US$ 18.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Boat Rental Market Overview:

Boat rental refers to a service that allows consumers to rent various types of boats, typically for recreational use. These rental options range from smaller craft like kayaks and canoes to larger vessels such as sailboats and motorboats. Generally, these boats are designed with specific functionalities to suit different water activities including fishing, sailing, and water sports.

The working mechanism varies depending on the type of boat; for instance, sailboats operate through the harnessing of wind energy, while motorboats are powered by internal combustion engines. Renting a boat offers the advantage of enjoying water-based activities without the financial and maintenance commitments associated with ownership.

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Boat Rental Market Growth:

The global market is primarily driven by the rising consumer interest in marine recreational activities. In line with this, the expansion of tourism sectors in coastal areas is providing an impetus to the market. Moreover, the availability of varied rental options catering to different budgets acts as a significant growth-inducing factor.

In addition to this, advancements in online booking systems simplify the rental process, further propelling the market. Besides this, the growing enthusiasm for fishing and water sports among the younger population creates lucrative opportunities. Also, the incorporation of safety features and guided tutorials is positively impacting the market.

The market gains additional support from local government initiatives promoting water-based tourism. Apart from this, increased disposable incomes enable more people to indulge in luxury boat experiences, thereby enhancing market growth. Seasonal promotions and package deals also contribute, as do partnerships between rental services and travel agencies. Lastly, customer feedback platforms help in maintaining service quality, thereby sustaining demand.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/boat-rental-market

Key Market Segmentation:

Competitive Landscape:

• Bluewater Yachting
• Boatjump SL
• Boatsetter Inc.
• GetMyBoat
• Globe Sailor
• Le Boat
• Nautal (Click&Boat)
• Sailo Inc.
• SamBoat
• Yachtico
• Zizooboats GmbH

Breakup by Boat Type:

• Yachts
• Sailing Boat
• Catamaran
• Motorboat
• Others

Breakup by Power Source:

• IC Engine
• Electric

Breakup by Length:

• Up To 28 Feet
• 28-45 Feet
• More Than 45 Feet

Breakup by Activity Type:

• Fishing
• Sailing
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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