Boat Rental Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Boat Rental Market is Segmented by Boat Type (Yacht, Sailing Boat, Catamaran, Motorboat, and Other Boat Types), Power Source (IC Engine and Electric), Activity Type (Fishing, Sailing, and Other Activity Types), and Geography.

Market Snapshot

Boat Rental Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: Europe
CAGR: >5 %
Boat Rental Market Major Players

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Market Overview

The boat rental market is anticipated to register a CAGR of about 5% during the forecast period (2020-2025)

  • The booming tourism industry, increasing interest of people in recreational activities, and marine tourism are expected to fuel the demand for boat rentals during the forecast period. Boat rental provides an easy and convenient way to own a boat without actually owning it. In the current market scenario, where everything can be rented, from bicycle to home, car to workplace sharing, renting a boat is a much-needed service, as most of the boats are parked in the harbor for more than half of their service life. Boat rental companies offer boats as per the requirements of the customers, with or without captain and fueled or to be fueled up to the need, with additional facilities like ski and tubbing.
  • Listing a parked boat in the boat rental provides a new revenue source for the boat owners, as it is cheaper to buy a boat is cheaper compared to its maintenance. The parked boats in harbors pose huge potential for the growth of the boat rental market in the coming years. There are several pople who want to experience luxury at a low cost. Previously, boat rental companies provided boats on a weekly and monthly basis. However, digitalization has provided a new opportunity for the hourly and half or full-day rental services.
  • The count of the parked boats is high in Europe. Furthermoe, four European countries are among the top five countries in terms of yacht parked on their coastline, with the United States in the lead. Moreover, the United States is the leader in the manufacturing of boats. However, it faces tough competition from the second-largest boat producer, Italy, as the luxury boats made in Italy are highly preferred, while the US States boats are preferred for fishing and sporting activities.

Scope of the Report

The report on the boat rental market covers the latest market trends, government policies, and technological developments, along with the market share of major boat rental service providers across the world.

By Boat Type
Yachts
Sailing boat
Catamaran
Motorboat
Other Boat Types
By Power Source
IC Engine
Electric
By Activity Type
Fishing
Sailing
Other Activity Types
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries

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Key Market Trends

Increase in Online Rental Services is Driving the Market

The boat rental market is creating a community of occasional boat users and boat owners, where a boat can be rented on the basis of location, type, feature, and duration. This peer-to-peer service has put thousands of unused boats into work. Owners and rental companies offer boats with a captain and crew, or they handover the boat to the renter. In the latter case, renter companies and the boat owner first review the renter's past experience, boating knowledge, and availability of certifications, before renting a boat.

Traditional boat rental companies took a new leap after the entry of online rental service providers. Previously, from a renter's point of view, renting a boat was out of reach. However, currently, renters are enjoying pocket-friendly services, and boat and fleet owners are achieving a larger reservation volume and enjoying a new income source.

Boat Rental Market Key Trends

North America and Europe May Lead the Boat Rental Market

Boats and water activities are the preferred recreational activities in the North American and European regions. Furthermore, these regions hold the majority of boat rental start-ups. In terms of manufacturing capabilities and exporting power, the United States is among the top three suppliers, along with the other countries in Europe, such as Germany, France, and Italy.

Similarly, in Asia-Pacific, particularly in China, where there are 1,034,000 millionaires and 11,000 citizens worth at least USD 30 million, there is a huge potential for boat rentals. Furthermore, the Chinese government is trying to promote yachting as a leisure activity to be enjoyed by many, rather than a luxury commodity. In 2016, the China State Council issued a circular to further promote and expand domestic service consumption and spending on tourism. The circular included an announcement to formulate a yachting tourism development plan. Following this, pilot projects for yacht rental services were also started on some routes. Thus, many US and European companies that provide rental services, marinas, and other water sports have expanded their presence in China.

Boat Rental Market Growth Rate

Competitive Landscape

The boat rental market is moderately fragmented, as it has a number of active players. The market is also witnessing the emergence of many new start-ups. Some of the major players in the market are GetMyBoat, Sailo Inc., Nautal, and Boatsetter, among others. The companies are expanding their presence by acquiring other market participants, increasing their boat counts, and tapping in new and unexplored markets. For instance,

  • In 2018, Nautal acquired Incredible, a USD 2.6 million funded start-up. Incredible has a good presence across the Mediterranean region, especially in Greece. Nautal made a statement that, in the future, they plan to seek more acquisitions to further consolidate the market.
  • In 2018, GetMyBoat secured up to USD 10 million funding, by Yanmar Group, a Japan-based multinational company that is also a marine engine provider. After this funding, the engine provider entered the list of board of directors of GetMyBoat.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Boat Type

      1. 5.1.1 Yachts

      2. 5.1.2 Sailing boat

      3. 5.1.3 Catamaran

      4. 5.1.4 Motorboat

      5. 5.1.5 Other Boat Types

    2. 5.2 By Power Source

      1. 5.2.1 IC Engine

      2. 5.2.2 Electric

    3. 5.3 By Activity Type

      1. 5.3.1 Fishing

      2. 5.3.2 Sailing

      3. 5.3.3 Other Activity Types

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 India

        2. 5.4.3.2 China

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Mexico

        3. 5.4.4.3 United Arab Emirates

        4. 5.4.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 GetMyBoat

      2. 6.2.2 Nautal

      3. 6.2.3 Sailo Inc.

      4. 6.2.4 Boatsetter

      5. 6.2.5 Zizooboats Gmbh

      6. 6.2.6 Boat Jump

      7. 6.2.7 Globe Sailor

      8. 6.2.8 Yachtico Inc.

      9. 6.2.9 Le Boat

      10. 6.2.10 Blue Boat Yacht Entertainment Company

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Boat Rental Market market is studied from 2018 - 2026.

The Boat Rental Market is growing at a CAGR of >5% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

GetMyBoat, Nautal, Sailo Inc., Boatsetter, Zizooboats Gmbh are the major companies operating in Boat Rental Market.

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