Boat Rental Market was valued at USD 18.45 Billion in 2022, and is expected to reach USD 29.67 Billion by 2029, exhibiting a CAGR of 6.12 % during the forecast period (2023-2029).
Boat Rental Market Overview:
Information about competitors is included in the competitive environment of the Boat Rental Market. A business overview, financial information, revenue generated, market potential, investment in R&D, initiatives to break into new markets, regional presence, firm strengths and weaknesses, product introduction, and application domination are among the contents. Only the businesses' concentration on the Boat Rental market is relevant to the aforementioned data points.
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Boat Rental Market Scope:
This market study covers recent developments, trade laws, import-export analysis, production analysis, value chain optimization, market share, the effects of domestic and regional market participants, opportunities for new revenue streams, regulatory changes, strategic market growth analysis, market size, segmented market growth, application niches and dominance, product approvals, product launches, and geographic expansion. Contact Maximize Market Research for an Analyst Brief if you'd like more details about the Boat Rental market; our experts will help you make an informed decision to expand the market.
Boat Rental Market Segmentation:
The boat rental market is divided into three categories: entry, sports, and luxury. The luxury boat segment had a sizable market share of 38.12% in 2022. Due to rising interest in luxury sailing, particularly among the world's wealthy, the luxury boat segment is anticipated to hold onto its position as the largest category in the worldwide boat rental market while expanding at a CAGR of 3.67% during the forecast period. The rich and common people alike have been drawn to travel abroad by the trend of discovering new tourist spots. Additionally, major competitors concentrate on giving their guests with more comfortable and opulent cruises by offering first-rate amenities like internet access, bars, and restaurants.
The boat rental industry is divided into three groups based on propulsion: fuel-powered, sailboat, and electric boat. The segment powered by fuel had a significant market share of 41.10% in 2022. The sector is anticipated to maintain its position in the worldwide boat rental market and grow at a CAGR of 3.56% during the projected period due to the rising demand for gasoline-powered boats for personal and recreational usage in the majority of nations. These boats can also navigate tropical waterways, giving passengers the freedom to explore the entire shoreline as well as small streams. The need for fuel-powered boats is also fueled by the rise in marine events, sporting competitions, and championship games.
Global Boat Rental Market, by Propulsion Type (2022-2029)
• Fuel Powered
• Sail Boat
• Electric Boat
Global Boat Rental Market, by Boat Size (2022-2029)
• Up to 20 Feet
• 21 To 35 Feet
• Above 36 To 50 Feet
Global Boat Rental Market, by Boat Class (2022-2029)
• Luxury
• Sports
• Entry
Global Boat Rental Market, by Activity (2022-2029)
• Sailing and leisure
• Fishing
• Others
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Boat Rental Market Key Players: The following are the key players of the Boat Rental market-
1. GetMyBoat, Inc.,
2. Click&Boat,
3. Sailo, SamBoat
4. GlobeSailor
5. Yachtico Inc.
6. Boatjump SL
7. BoatBureau
8. Ocean Serenity
9. Boatsetter
10. Groupe Beneteau
11. Zizoo
12. BorrowABoat
13. Samboat
14. Incrediblue
15. Boatbay
16. West Coast Marine
17. Odyssey Boats
18. Le Boat
19. THE MOORINGS
20. Nautal.
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Boat Rental Market Regional Analysis:
The geographical section of the research also includes individual market influencing variables and changes in market regulations that effect current and future market trends. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are only a few of the indicators used to forecast market scenarios for various countries.
COVID-19 Impact Analysis on Boat Rental Market: The research also addresses the impact of COVID-19 on the Boat Rental market. The basic purpose of this study is to help the user understand the market in terms of definition, segmentation, market potential, noteworthy trends, and the issues that the industry is facing across key regions. The study provides micro and macroeconomic analysis of the total impact of COVID-19 on the Boat Rental Market. The specific analysis focuses on market share and size, which clearly demonstrates the influence that the pandemic has had and will have on the worldwide Boat Rental Market in the next years.
Key Questions Answered in the Boat Rental Market Report are:
- What will be the CAGR of the Boat Rental market during the forecast period (2021-2027)?
- Which segment emerged as the leading segment in the Boat Rental market?
- Which are the prominent players in the Boat Rental market?
- What key trends are likely to emerge in the Boat Rental market in the forecast period?
- What will be the Boat Rental market size by 2027?
- Which company held the largest share in the Boat Rental market in 2020?
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As the purchasing power of the millennials increases, so does their preference for the experience economy.
The boat rental business has proven its worth as a resilient business as even during the COVID-19 pandemic, the industry was able to thrive as people think of it as a safe means of leisure travel.According to Bryan Petro, the COO of online boat rental marketplace GetMyboat, many people discovered the thrill of boating for the first time during the pandemic.
Another statistic suggests that the Global Yacht Charter market is expected to reach $27.8 billion in the luxury segment by 2027 at a CAGR of 15%.Benefits of taking boat rental business onlineThe business to provide an online boat rental service is booming due to some inherent benefits it provides compared to the offline model.
A business providing boat booking services online can remove this hurdle by allowing boat lovers to filter out the best boat according to their requirements.An online boat rental booking service will help the tourists book the boat of their choice, whether it’s a party yacht, a honeymoon cruiser, or an adventure sailing boat.The benefits of an online boat rental service are not just limited to the people who rent the boats, but the boat owners also stand to gain a lot from the online boat rental service.
The backend of the boat rental mobile app solution will collect, categorize, and store all the data related to the boats securely, making it easily accessible to the administrators.
This boat rental system feature maximizes sales as the booking hours to rent a boat are not limited.Cuts manual workloadBoat rental and yacht management software solutions will eliminate a lot of manual workloads and optimize customer service.
Crewed Yacht Charter Vacation - VirginEscape Charters specializes in finding the perfect match to help make your yacht charter dream trip a reality.
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