The latest report by IMARC Group, titled “Boat Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds the global boat rental market is expected to grow at a CAGR of 5.50% during the forecast period (2022-2027). Boat rental is a service where individuals can rent boats for vacation, recreational, or leisure purposes. It is more affordable than buying a boat, and the renter is assured of its proper running condition and possesses vital safety gear and equipment. In recent years, boat rental services have gained momentum as they provide customers with a personal experience, along with additional facilities, including tubbing and skiing.
We are tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Boat Rental Market Trends:
One of the primary factors driving the market is the extensive adoption of sailing due to its numerous health benefits, including mental well-being, muscle strength and endurance, improved concentration, reduced stress, and increased spatial awareness and agility. Additionally, peer-to-peer boat rentals offer safety and security checks, insurance, and a secure payment system, thus creating a positive market outlook. Other than this, the growing trend of participation in recreational activities aiding in maintaining and promoting overall health and wellness is positively influencing the market growth. Besides this, the expanding marine tourism across the globe is attracting tourists to various marine activities, thus encouraging individuals to opt for boat rental services. Furthermore, the increasing number of private islands worldwide and the insurance packages provided by the renter are driving the market growth. Other growth-inducing factors include the expansion of online rental services, the availability of luxury boats for rent, providing an enhanced comfort level and travel experience, various government initiatives to encourage marine tourism, and increasing per-capita income of individuals.
- Based on the boat type, the market has been segmented into yachts, sailing boat, catamaran, motorboat, and others.
- On the basis of the power source, the market has been bifurcated into IC engine and electric.
- Based on the length, the market has been divided into up to 28 feet, 28-45 feet, and more than 45 feet.
- On the basis of the activity type, the market has been classified into fishing, sailing, and others.
- Region-wise, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been analyzed, with some of the key players being Bluewater Yachting, Boatjump SL, Boatsetter Inc., GetMyBoat, Globe Sailor, Le Boat, Nautal (Click&Boat), Sailo Inc., SamBoat, Ychito, and Zizooboats GmbH.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800