Boat Rental Market Report 2021-2028

The major players of boat rental market studied in this report are GETMYBOAT Inc., Brunswick Group, BRP, Beneteau Group, Blue Bay Marine, Blue Boat Yacht Entertainment Company, Boatjump, SL, Boatsetter, Click&Boat, GLOBE SAILOR, Incrediblue, The Boat, among others. .

Pune, India, Aug. 16, 2021 (GLOBE NEWSWIRE) — According to the report, the Boat rental market size to attain a remarkable value by 2028. Rising urbanization and changing lifestyle of the people are some of the factors driving the market. The availability of luxury charter boats for enhanced travel comfort and experience is expected to propel the market growth over the forecast period. The online boat rental booking service on the company’s website and apps further provides convenience to consumers and influences the growth of the market.

The global pandemic, COVID-19, has had severe repercussions due to its widespread effects in several economies. Several industries are facing unprecedented losses due to the lockdown announced by several governments around the world which has resulted in the complete closure of businesses. The crippling economy, however, is being revived through the collective efforts of government as well as industries and is expected to rebound in the coming years.

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As the tourism and travel industry grows, so does the boat rental market. A wide range of boats are available for charter with different models, shapes and sizes as per customer requirements. In the past, these boats were available for charter for weeks or months. However, the availability and adoption of on-demand boat rental services on an hourly and daily basis is all the rage these days. These rented boats are mainly used for leisure trips and business trips. Besides that, they are also used for cruising, racing and other adventure sports activities all over the world. The capital cost and maintenance costs of owning a boat are high; therefore, this service is the most suitable option for the population.

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By business model, the market is segmented into day cruise, charter, day cruise lux, charter lux, Tour, Event/B2B, Peer to Peer and Business to Consumer. Peer to Peer and business to consumer segments are expected to register significant growth over the forecast period.

By boat size, the market is segmented into up to 20ft, 21-35ft and 36-50ft. The 21-35 foot segment held the largest market share in 2019 and is expected to continue to dominate in the years to come.

By technology, the market is segmented into Connected Systems, Service & Maintenance, Monitoring Systems, Support Systems and Others. The service and maintenance and monitoring systems segments are expected to witness significant growth during the forecast period. Care and maintenance and monitoring systems both ensure safety. Hence, rising safety concerns among the population regarding boat travel is expected to drive the growth of the segment.

By boat class, the market is segmented into luxury, sport, entry and others. The luxury segment is expected to grow at a steady pace over the forecast period. Luxury boats and yachts offer high speed, comfort, security and privacy compared to other segments; hence, they are highly adopted by the people for leisure travel and other activities.

By propulsion, the market is segmented into gasoline, electric, sail and other boats. The fuel segment held the largest market share in 2019 and is expected to continue to dominate during the forecast period.

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Geographically, the boat rental market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America is the leading market region, followed by Europe. The United States is the leader in the manufacture of various boats; these boats are widely adopted in North America for navigation and sporting activities. Growing adoption of boat rental platforms such as Boat setter in North America is expected to drive the market over the forecast period. The initiative of the government for the development of the tourism industry in the region is the supporting factor for the growth of the market. Additionally, increasing government spending on water activities and leisure travel are some of the factors responsible for the growth of the market in the region. Increasing globalization is further driving the market in the region. European countries like Germany, Italy and France are the main suppliers of boats.

List of companies operating in the market:

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Global Boat Rental Market Segmentation:

By business model:

  • One day cruise

  • charter

  • Lux day cruise

By boat size:

  • Up to 20 feet

  • 21 to 35 feet

  • 36 to 50 feet

By technology:

By boat class:

  • Luxury

  • Sports, entrance and other

By motorization:

  • powered by fuel,

  • electric boats,

  • Sailed and others

By geography:

  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Rest of Latin America)

  • Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)

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