Boat Rental Market to Grow at 6.6% CAGR, Reaching $25.41 Billion by 2029

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Boat Rental Market Outlook: How is the Market Expected to Grow by 2025?
The growth in the boat rental market has been robust in the previous few years and is anticipated to increase from $18.6 billion in 2024 to $19.68 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%. This expansion in past years can be credited to several factors including shifts in tourism and leisure trends, evolving customer preferences, increased interest in water-related activities, improved access to coastal and inland waters, and the rise of peer-to-peer boat rentals.

Boat Rental Market Forecast: What Size Will It Reach By 2029?
The growth trajectory for the boat rental market is predicted to be robust in the coming years, reaching a market valuation of $25.41 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 6.6%. The upswing in the forecast period can be linked to factors like increasing disposable incomes, a trend towards sustainable and environment-friendly experiences, the burgeoning tourism sector, advanced marketing strategies and online platforms, and ingenious rental models. Foreseen trends for the forecast period encompass the use of virtual and augmented reality for boat previews, the implementation of contactless procedures for check-in and checkout, partnerships with the tourism and hospitality industry, the introduction of AI-based boat suggestions, and an emphasis on safety and instructional training for renters.

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Which Key Market Drivers Will Shape Boat Rental Industry Trends in 2025-2029?
The boat rental market is set to grow as the marine tourism sector continues to expand globally. Marine tourism is defined by travel experiences that move people away from their homes to enjoy sea-related activities. Sailing boats, cruises, and yachts for leisure or business purposes are a large part of this. Therefore, as marine tourism grows, so too does the boat rental market. For example, according to the 2023 National Drowning Report from Royal Life Saving Australia, the boating industry in Australia noted a national turnover of $9.64 billion during the 2022-23 financial year, as claimed by the Boating Industry Association of Australia. This pulls focus to the substantial economic influence the boating industry holds, while also highlighting ongoing safety issues related to water activities. Thus, the global growth of marine tourism is propelling the growth of the boat rental market.

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What Are the High-Growth Segments in the Boat Rental Market?
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

Which Global Trends Are Driving Boat Rental Market Expansion?
The boat rental market is increasingly being influenced by the trend of technological advancements. Large-scale companies involved in this market are investing in innovative technology to fortify their market presence. Vision Marine Technologies, a Canadian firm renowned for creating handmade, high-performance, eco-friendly, and electricity powered recreational boats, brought forth the E-Motion technology in June 2022. This is the first of its kind, a high-performance electric propulsion engine merging a motor of 180-horsepower (135 kW) with an advanced battery management system, leading to a 90% reduction in energy costs. The E-Motion technology bolsters performance and extends range with no need for extra charging equipment or infrastructure. A simple 220-volt charging outlet, which is largely available in most marina infrastructures, is all that is needed.

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Who Are the Fastest-Growing Companies in the Boat Rental Industry?
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.

What Is the Regional Outlook for the Boat Rental Market by 2029?
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.

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