Boat Rental Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | North America |
| Largest Market: | Europe |
| CAGR: | > 5 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Boat Rental Market Analysis
The boat rental market was valued at USD 15 Billion in 2021 and is expected to grow up to USD 20 Billion by 2027, registering a CAGR of 5% during the forecast period (2022 - 2027).
The COVID-19 pandemic had a negative impact on the boat rental market. With the global lockdown in place, the market growth opportunities for boat rental have drastically reduced due to the stringent social distancing norms. However, the increased preference for recreational activities by individuals is expected to revive the market significantly during the forecast period.
- 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.
Boat Rental Industry Segmentation
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 (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecast for Boat Rental in terms of value (USD Billion) for all the above segments.
| By Boat Type | |
| Yacht | |
| Sailing boat | |
| Catamaran | |
| Motorboat | |
| Other Boat Types |
| By Power Source | |
| IC Engine | |
| Electric |
| By Activity Type | |
| Fishing | |
| Sailing | |
| Other Activity Types |
| By Geography | |||||||
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Boat Rental Market Trends
This section covers the major market trends shaping the Boat Rental Market according to our research experts:
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 hand over 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.
The travel industry is gradually opening up in the wake of the COVID-19 pandemic and several boat rental companies are offering various services owing to the users in order to cater to the recreational boating needs across the world. Europe has been leading the market with some of the companies offering numerous services in the region. For instance, companies like Artsy London houseboat, Canal houseboat holiday, Group Adriatic sailboat adventure, Finnish floating cabin, etc., are some of the companies offering luxury services in the region.
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Asia-Pacific to witness considerable growth
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.
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Boat Rental Industry Overview
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.
Boat Rental Market Leaders
GetMyBoat
Nautal
Sailo Inc.
Boatsetter
Zizooboats Gmbh
*Disclaimer: Major Players sorted in no particular order
Boat Rental Market News
- In February 2022, Yanmar Holdings acquired GetMyBoat, a boat rental company. The acquisition is a part of the former company's $21 million funding round and after the acquisition as well, GetMyBoat will be operating as separate entity.
- In June 2021, Vision Marine Technologies, Inc. acquired EB Rental Ltd. a electric boat rental company.
- In Aug 2020, Click&Boat acquires Nautal, a main competitor in the boat rental market of Europe. The company now has a dominating position in the international boat rental sector. With this acquisition, the group aimed to reach USD 115 Million in 2021.
Boat Rental Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Boat Type
5.1.1 Yacht
5.1.2 Sailing boat
5.1.3 Catamaran
5.1.4 Motorboat
5.1.5 Other Boat Types
5.2 By Power Source
5.2.1 IC Engine
5.2.2 Electric
5.3 By Activity Type
5.3.1 Fishing
5.3.2 Sailing
5.3.3 Other Activity Types
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 GetMyBoat
6.2.2 Nautal
6.2.3 Sailo Inc.
6.2.4 Boatsetter
6.2.5 Zizooboats Gmbh
6.2.6 Boat Jump
6.2.7 Globe Sailor
6.2.8 Yachtico Inc.
6.2.9 Le Boat
6.2.10 Blue Boat Yacht Entertainment Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Boat Rental Market Research FAQs
What is the study period of this market?
The Boat Rental Market is studied from 2018 - 2028.
What is the growth rate of Boat Rental Market?
The Boat Rental Market is growing at a CAGR of >5% over the next 5 years.
What is Boat Rental Market size in 2018?
The Boat Rental Market is valued at 15 Billion USD in 2018.
What is Boat Rental Market size in 2028?
The Boat Rental Market is valued at 20 Billion USD in 2028.
Which region has highest growth rate in Boat Rental Market?
North America is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Boat Rental Market?
Europe holds highest share in 2021.
Who are the key players in Boat Rental Market?
GetMyBoat, Nautal, Sailo Inc., Boatsetter, Zizooboats Gmbh are the major companies operating in Boat Rental Market.
Boat Rental Industry Report
Statistics for the 2023 Boat Rental market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Boat Rental analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
