Portland, OR, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global boat rental market generated $18.2 billion in 2021, and is projected to reach $31.2 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Boat Rental Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $18.2 billion |
| Market Size in 2031 | $31.2 billion |
| CAGR | 5.7% |
| No. of Pages in Report | 263 |
| Segments Covered | Boat type, boat size, power, activity, and region. |
| Drivers | Increase in the standard of living |
| Increase in the growth of the marine tourism industry | |
| Opportunities | Rapid development of online platforms for availing boat rental services |
| Rise in sea-based tourist activities including boating, cruising, yachting, and nautical sports | |
| Restrains | High cost associated with renting a boat |
| Limited to specific consumers |
COVID-19 Scenario:
- The COVID-19 pandemic had a negative impact on the growth of the global boat rental market, owing to the presence of lockdowns as imposed by the government of various countries across the globe.
- Lockdowns resulted in the closure of all sorts transportation, including aircraft, land and water transportation, which adversely impacted the growth of the market.
- This was mainly due to the stringent social distancing restrictions from the government so as to curb the spread of the virus during the pandemic.
- Furthermore, closure of manufacturing facilities of boats and yacht during the pandemic aggravated the impact on the market. However, the market is expected to recoup soon.
The report offers detailed segmentation of the global boat rental market based on boat type, boat size, power, activity, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on boat type, the inboard boats segment held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments such as outboard boats, sail boats, and others.
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Based on boat size, the less than 30 ft segment held the lion’s share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The greater than 79 ft segment, on the other hand, is expected to cite the fastest CAGR of 6.9% during the forecast period.
Based on region, the market across Europe held the dominating market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.5% during the forecast period.
The key players analyzed in the global boat rental market report include GETMYBOAT Inc., Groupe Beneteau, Boatsetter, Inc., Globesailor, Click & Boat, Zizooboats GmbH, Nautal, Sailo, Incrediblue, Boatjump, Blue Boat Yacht Entertainment Company, Brunswick Group.
The report analyzes these key players in the global boat rental market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
