Growth of Marine Tourism Fuels Boat Rental Industry Expansion: A Key Factor Shaping the Future of the Boat Rental Market in 2025

Which drivers are expected to have the greatest impact on the over the boat rental market's growth?
The proliferation of marine tourism worldwide is projected to fuel the progression of the boat rental market. Marine tourism involves recreational activities requiring travel beyond one's residence that interacts with the coastal environment. This includes leisure and business activities on boats, cruises, and yachts. Consequently, the surge in marine tourism stimulates the development of the boat rental market. For instance, according to the 2023 National Drowning Report presented by the Royal Life Saving Australia, the Australian boating industry recorded a nationwide turnover of $9.64 billion for the financial year 2022-23, as stated by the Boating Industry Association of Australia. This statistic highlights the substantial economic contribution of the boating industry and the continuing safety concerns related to water activities. Therefore, the worldwide growth of the marine tourism sector is influencing the expansion of the boat rental market.

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What is the future CAGR of the boat rental market, and how will it impact industry expansion?
The size of the boat rental market has seen robust growth lately. It is projected to expand from its 2024 value of $18.6 billion to $19.77 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. This growth during the historic period is largely due to factors such as shifts in leisure and tourism trends, evolving consumer preferences, the growing popularity of water-based activities, increased access to coastal and inland waters, and the rise of peer-to-peer boat rentals.

Expectations are high for the boat rental market to experience significant growth in the coming years. A projected figure of $26.11 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 7.2% is anticipated. Factors such as increased disposable income, emphasis on green and sustainable practices, a flourishing tourism industry, innovative rental approaches, and the use of marketing and digital platforms are the driving forces behind this growth during the forecast period. Future trends include the incorporation of augmented and virtual reality for boat demonstrations, the establishment of contact-free check-in and checkout processes, partnerships with tourism and hospitality firms, the creation of AI-driven boat suggestions, and an increased emphasis on renter safety and training programs.

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What are the most significant trends transforming the boat rental market today?
The surge in technological developments is a growing trend in the boat rental industry. Main players in this sphere are emphasizing the creation of innovative solutions to solidify their market presence. Vision Marine Technologies, a Canadian firm renowned for its handcrafted, high-performance, eco-friendly, and electric leisure powerboats, unveiled the E-Motion technology in June 2022. This technology is the first of its kind to be incorporated in a high-performance electric propulsion engine, featuring a 180-horsepower (135 kW) motor and a cutting-edge battery management system, which can minimize energy expenses by 90%. The E-Motion increases efficiency and range without depending on any extra charging equipment or platforms. A simple 220-volt charging port, which is already part of the majority of marina infrastructures, is all that is needed.

Which key market segments comprise the boat rental market and drive its revenue growth?
The boat rental market covered in this report is segmented -

1) By Boat Type: Inboard Boats, Outboard Boats, Sail Boats, Other Boats
2) By Boat Size: Less Than 30 feet, Between 30 And 79 feet, Greater Than 79 feet
3) By Power: Engine Powered, Man Powered, Sail Propelled
4) By Activity: Sailing And leisure, Fishing, Other Activities

Subsegments:
1) By Inboard Boats: Powerboats, Cabin Cruisers
2) By Outboard Boats: Speedboats, Fishing Boats
3) By Sail Boats: Monohulls, Catamarans
4) By Other Boats: Kayaks, Canoes, Yachts

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What regions are at the forefront of boat rental market expansion?
Europe was the largest region in the boat rental market in 2024. North America is expected to be the fastest-growing region in the global boat rental market report during the forecast period. The regions covered in the boat rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the boat rental market?
Major companies operating in the boat rental market include GetMyBoat Inc., Brunswick Corporation, BRP Inc., Beneteau Group, Blue Bay Marine, Blue Boat Yacht Entertainment Company, Boatjump S.L., Boatsetter, Click&Boat, GlobeSailor, Incrediblue, Le Boat, Yachtico, Dream Yacht Charter, Nautal, SamBoat, Sailo, Boatsetter, Sunsail, Moorings, MarineMax, Freedom Boat Club, West Coast Boat Rentals, Miami Boat Charters, NY Boat Charter, CharterLux, European Boating Holidays, BoatyBooker, YachtLife, and Borrow A Boat.

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What Is Covered In The Boat Rental Global Market Report?

• Market Size Forecast: Examine the boat rental market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the boat rental market for a structured understanding.
• Key Players Overview: Analyze major players in the boat rental market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the boat rental market.
• Segment Contributions: Evaluate how different segments drive overall growth in the boat rental market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the boat rental market.
• Industry Challenges: Identify potential risks and obstacles affecting the boat rental market.
• Competitive Landscape: Review strategic developments in the boat rental market, including expansions, agreements, and new product launches.

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