How Has the Boat Rental Market Evolved Historically and What is its Current Size
The boat rental market has seen considerable growth due to a variety of factors.
• In recent times, the boat rental market has experienced robust growth. There is an anticipated rise from $18.6 billion in 2024 to $19.77 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%.
Factors fueling the growth during the historic period include trends in leisure and tourism, evolving consumer tastes, heightened interest in water-related activities, availability of access to coastal and inland waters, and the rise of peer-to-peer boat rentals.
What are the Market Size and Expected Growth Rates for the Boat Rental Market?
The boat rental market is expected to maintain its strong growth trajectory in upcoming years.
• In the ensuing years, a significant growth is anticipated in the boat rental market, projecting a worth of $26.11 billion by 2029, propelled by a compound annual growth rate (CAGR) of 7.2%.
Factors such as escalating disposable incomes, a preference for green and sustainable experiences, an expanding tourism sector, innovative hiring models, marketing and online platforms can be credited for this growth in the projected period. During this forecast period, key trends to watch include the use of virtual and augmented reality for boat viewing, check-in and check-out procedures without physical contact, tie-ups with tourism and hospitality partners, AI-driven boat recommendations, and an increased emphasis on educational and safety training for renters.
What Are The Essential Drivers Behind The Growth Of The Boat Rental Market?
The boat rental market is predicted to grow due to the worldwide growth of the marine tourism industry. Marine tourism consists of entertaining activities that require traveling away from home and taking advantage of the coastal environment. These activities include pleasure or business travel on boats, cruises, and yachts. Consequently, the boat rental market flourishes alongside the growth of marine tourism. For example, the 2023 National Drowning Report from Royal Life Saving Australia highlighted that the boating industry in Australia achieved a national turnover of $9.64 billion for the financial year of 2022-23, according to the Boating Industry Association of Australia. These numbers not only emphasize the economic importance of the boating sector but also bring attention to the persistent safety issues related to water activities. Hence, the global growth of the marine tourism field is fueling the expansion of the boat rental market.
How Is The Globa Boat Rental Market Divided Into Key Segments?
The boat rental market covered in this report is segmented –
1) By Boat Type: Inboard Boats, Outboard Boats, Sail Boats, Other Boats
2) By Boat Size: Less Than 30 feet, Between 30 And 79 feet, Greater Than 79 feet
3) By Power: Engine Powered, Man Powered, Sail Propelled
4) By Activity: Sailing And leisure, Fishing, Other Activities
Subsegments:
1) By Inboard Boats: Powerboats, Cabin Cruisers
2) By Outboard Boats: Speedboats, Fishing Boats
3) By Sail Boats: Monohulls, Catamarans
4) By Other Boats: Kayaks, Canoes, Yachts
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What Trends Are Reshaping The Boat Rental Market?
In the boat rental industry, the trend that is gaining traction is technological innovation. Major businesses in the market are emphasizing the creation of cutting-edge technologies to solidify their market standing. For instance, Vision Marine Technologies, a company based in Canada that specializes in crafting high-end eco-friendly electric recreational powerboats, pioneered the E-Motion technology in June 2022. This technology is the first-ever high-performance electric propulsion engine in the world. It incorporates a 180-horsepower (135 kW) motor along with a complex battery management system, diminishing energy expenses by 90%. The E-Motion technology enhances both performance and range without necessitating any further charging infrastructure or equipment. The sole requirement is a 220-volt charging outlet, a piece of infrastructure that is commonly found in almost all marinas.
Who Are the Key Players in the Boat Rental Market?
Major companies operating in the boat rental market include:
• GetMyBoat Inc.
• Brunswick Corporation
• BRP Inc.
• Beneteau Group
• Blue Bay Marine
• Blue Boat Yacht Entertainment Company
• Boatjump S.L.
• Boatsetter
• Click&Boat
• GlobeSailor. Incrediblue
• Le Boat
• Yachtico
• Dream Yacht Charter
• Nautal
• SamBoat
• Sailo
• Boatsetter
• Sunsail
• Moorings
• MarineMax
• Freedom Boat Club
• West Coast Boat Rentals
• Miami Boat Charters
• NY Boat Charter
• CharterLux
• European Boating Holidays
• BoatyBooker
• YachtLife
• and Borrow A Boat.
What are the Regional Insights into the Boat Rental Market?
Europe was the largest region in the boat rental market in 2024. North America is expected to be the fastest-growing region in the global boat rental market report during the forecast period. The regions covered in the boat rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
