Press release
Boat Rental Market: CAGR, Growth Drivers, and Trends (2024-2029)
Boat Rental Market Size
What Is The Projected Market Size Of The Global Boat Rental Market And Its Growth Rate?
The Boat Rental market witnessed strong growth in the past and continues to trend positively. Here are the anticipated progress markers:
- Market size in 2024 will be approximately $18.6 billion.
- In 2025, the market size will grow to nearly $19.77 billion with a CAGR of 6.3%.
- EPredicted market size in 2029 is $26.11 billion growing at a CAGR of 7.2%.
This growth can be attributed to factors like emerging leisure and tourism trends, shifting consumer preferences, a rise in water-related activities, and innovative boat rental models.
What Is Driving The Growth In The Boat Rental Market?
The surge in the global boat rental market is primarily fueled by the expansion of marine tourism which includes activities associated with travel to coastal environments. These predominantly involve business or pleasure trips on boats, cruises, and yachts. For example, the Boating Industry Association of Australia reported a national turnover of $9.64 billion for the Australian boating industry in 2022-23. This data underscores the substantial economic impact of the boating sector and the safety concerns accompanying water activities, thus propelling the growth of the boat rental market.
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Who Are the Key Players Driving Boat Rental Market Growth?
Several companies are significantly contributing to the boat rental market. These include:
- GetMyBoat Inc.
- Brunswick Corporation
- BRP Inc.
- Beneteau Group
- Blue Bay Marine
- Boatjump S.L.
- Boatsetter
- Click&Boat
- GlobeSailor
- Dream Yacht Charter
- MarineMax
- Freedom Boat Club
- European Boating Holidays
What Are The Key Trends In The Boat Rental Market?
Key trends contributing to the boat rental market growth include:
- Adoption of virtual and augmented reality for boat previews
- Implementation of contactless check-in and check-out procedures
- Collaboration with tourism and hospitality partners
- Development of AI-powered boat recommendations
- Focus on safety and educational training for renters
What Are The Segments Of The Global Boat Rental Market?
The global boat rental market is categorized by:
- Boat Type: Inboard Boats, Outboard Boats, Sail Boats, Other Boats
- Boat Size: Less Than 30 feet, Between 30 And 79 feet, Greater Than 79 feet
- Power: Engine Powered, Man Powered, Sail Propelled
- Activity: Sailing And leisure, Fishing, Other Activities
Which Region Leads The Boat Rental Market?
Europe was the largest region in the boat rental market in 2024. North America is expected to witness the fastest growth during the forecast period. The report covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Boat Rental Market Global Market Report?
- Market Size Analysis: Analyze the Boat Rental Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Boat Rental Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Boat Rental Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Boat Rental Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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