Boat Rental Service Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Boat Rental Companies, And It 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 Forecasts for Boat Rental in Terms of Value (USD) for all the Above Segments.

Boat Rental Market Size

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Boat Rental Market Summary
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Study Period 2019-2029
Market Size (2024) USD 15.96 Billion
Market Size (2029) USD 21.11 Billion
CAGR (2024 - 2029) > 5.00 %
Fastest Growing Market North America
Largest Market Europe

Major Players

Boat Rental Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Boat Rental Market Analysis

The Boat Rental Market size is estimated at USD 15.20 billion in 2023, and is expected to reach USD 20.10 billion by 2028, growing at a CAGR of greater than 5% during the forecast period (2023-2028).

The boat rental market was valued at USD 15.2 billion in 2023, and it is expected to grow up to USD 20.1 billion by 2028, registering a CAGR of 5% during the forecast period (2023-2028).

The boat rental market is a segment of the broader recreational boating industry that offers individuals and groups the opportunity to rent boats for various purposes such as leisure, fishing, water sports, and transportation. The market is driven by factors such as increasing disposable incomes, growing demand for water-based activities, and advancements in boat technology. 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 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 a 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 people 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 hourly and half or full-day rental services.

The number of parked boats is high in Europe. Furthermore, four European countries are among the top five countries in terms of yachts 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 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 based on location, type, feature, and duration. This peer-to-peer service has put thousands of unused boats to 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 experience, boating knowledge, and availability of certifications before renting a boat.

The travel industry is booming, and several boat rental companies are offering various services to users to cater to recreational boating needs across the world. Europe has been leading the market, with some 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.

Moreover, online rental services also offer several benefits to boat rental companies themselves. They enable companies to reach a wider customer base through digital channels, as well as to streamline their operations by automating certain processes such as booking management and payment processing. They also provide valuable data on customer preferences and behavior, which can be used to inform marketing strategies and improve overall business performance. As technology continues to evolve and digital channels become increasingly prevalent, then, it is likely that online rental services will continue to drive growth in the boat rental market in the coming years.

Boat Rental Market: Number of registered recreational boats in the United States, in Units, by States, 2022

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 other countries in Europe, such as Germany, France, and Italy.

The Asia-Pacific boat rental market is experiencing notable growth due to several factors. Firstly, the region's expanding economies and increasing disposable incomes are driving demand for leisure activities, including boating and water sports, particularly in countries like China, India, and Vietnam, where the middle class is rapidly expanding. Secondly, the extensive coastlines and abundant water resources in the region offer ample opportunities for boating and water-based activities, which are further fueled by the growing popularity of eco-tourism and adventure tourism involving activities such as island hopping, snorkeling, and diving. Lastly, the region's favorable climate and year-round boating seasons make it an attractive destination for both domestic and international tourists, especially in countries like Thailand, Indonesia, and the Philippines, with their stunning beaches and crystal-clear waters.

On the other hand, 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. Similarly, in India, there are more than 169 billionaires and 344,600 high-new-worth individuals. Thus, many US and European companies that provide rental services, marinas, and other water sports have expanded their presence in China, India, and many developing Asian countries.

Boat Rental Market - Growth Rate (%), by Region, 2023-2028

Boat Rental Industry Overview

The boat rental market is moderately fragmented, as it has several 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 into new and unexplored markets. For example, in February 2023, Skipperi raised EUR 7 million in a Series A funding round to make boating more accessible. The new investment will be utilized to expand Skipperi's operations into Australia and the United States, further expanding its reach and catering to the growing demand for boat rentals in these regions. This move is a strategic step for Skipperi as it seeks to establish itself as a leading player in the global boat rental market. Additionally, in August 2022, Boatsetter, a boat rental company, secured USD 38 million in a funding round. As a highly capital-intensive industry, this infusion of funds is crucial for Boatsetter to sustain its operations and achieve long-term profitability. Currently, the platform offers over 50,000 boats in more than 700 locations across popular destinations such as Miami, Chicago, Seattle, and San Francisco. This expansion in availability is a testament to the growing demand for boat rentals in the region.

Boat Rental Market Leaders

  1. GetMyBoat

  2. Nautal

  3. Sailo Inc.

  4. Boatsetter

  5. Zizooboats Gmbh

*Disclaimer: Major Players sorted in no particular order

Boat Rental Market Concentration
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Boat Rental Market News

  • Dec 2023: Getmyboat, one of the leading booking platforms for yacht charters and boat rentals, announced the launch of its Direct Booking feature. This initiative will surely streamline the booking management system and increase the company's profits in the coming years.
  • Dec 2023: Vision Marine Technologies Inc. announced a significant expansion in Riviera Beach, Florida, through a strategic partnership with Blue Water Boat Rental. This partnership is a crucial step in Vision Marine's strategic plan, demonstrating the company's dedication to expanding the availability and influence of eco-friendly electric boats. The move is expected to broaden the reach and impact of sustainable electric boating.
  • Aug 2022: Boat rental platform BoatHoist announced that it was expanding into France, offering customers access to a range of boats for hire across the country. The company aims to provide a more affordable and convenient alternative to traditional boat rental companies.
  • Feb 2022: Yanmar Holdings acquired GetMyBoat, a boat rental company. The acquisition is a part of the former company's USD 21 million funding round, and after the acquisition, GetMyBoat will operate as a separate entity.

Boat Rental Market Report - 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

      1. 4.1.1

    2. 4.2 Market Restraints

      1. 4.2.1

    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 Yacht

      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 South America

        2. 5.4.4.2 Middle-East and Africa

  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

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Boat Rental Industry Segmentation

Boat rental refers to the temporary use of watercraft for a specific period, typically ranging from a few hours to several weeks, for various purposes such as leisure, fishing, water sports, transportation, and many other purposes. Boat rental services can be found in various locations worldwide, including coastal areas, inland waterways, and lakes.

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
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
South America
Middle-East and Africa
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Boat Rental Market Research FAQs

The Boat Rental Market size is expected to reach USD 15.96 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 21.11 billion by 2029.

In 2024, the Boat Rental Market size is expected to reach USD 15.96 billion.

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

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Boat Rental Market.

In 2023, the Boat Rental Market size was estimated at USD 15.16 billion. The report covers the Boat Rental Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Boat Rental Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Boat Rental Industry Report

Statistics for the 2024 Boat Rental market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Boat Rental analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Boat Rental Service Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)