Portland, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The Latest Boat Rental Market Report by MMR offers insights into top business strategies, market segments, trends, and share analysis by region. The report also covers the growth analysis of leading key players in the Boat Rental Market.
As per Maximize Market Research, Boat Rental Market was valued at USD 18.45 Billion in 2021, and is expected to reach USD 29.67 Billion by 2029, exhibiting a CAGR of 6.12 % during the forecast period (2022-2029).
Boat Rental Market Research Methodology:
"Boat Rental Market" report presents a comprehensive market overview, market shares, and growth opportunities by Propulsion Type, Boat Size, Boat Class and regions. The global market size and share for a given segment are estimated by using qualitative & quantitative Analysis. Boat Rental market market research report and other insights are carefully reviewed & examined by the senior research team to ensure that the research methodology and all information provided is accurate, analyst assumptions are carefully documented & conclusions are well-supported.
A bottom-up analysis is done by estimating potential sales to determine a total sales figure. The analysis of key competitors, including market leaders, followers, and new entrants, covers each aspect of the market. The Boat Rental Market size is estimated based on company revenues. Our analyst has also given profiling of some of the key players in the Boat Rental Market. For companies, where revenue information is not easily available, their contribution to the total market size is considered relatively modest. Primary research was carried out through emails, telephonic conversations, referrals, professional networks, and formal interactions to get accurate information about the market size, share, growth, and forecasts.
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Boat Rental Market Overview
Renting or chartering a yacht, sailboat, catamaran, motorboat, etc. for travel to different coastal or island areas is known as boat rental. During the forecast period, growth in the millennial population & a rise in marine tourism is expected to drive the Boat Rental Market and analysis by country is covered in the report with its own dynamics. The contributions of different driving factors like promotional boat renting techniques and its impact on revenue of the market in tangible and intangible form are analysed in the report.
Boat Rental Market Dynamics
Accessibility and connection with boat owners is key driving factor for boat rental market.
The Boat Rental Market is becoming more attractive as increasing number of travel businesses providing cutting-edge luxury packages to the tourists. Insurance packages and other value added facilities that make travel safe and pleasant are supposed to attract more tourist across the destinations. Growing number of international tourists, rising recreational activities. Corporate travels, marine time tourism, growing middles class and availability of funding for tourism in every country are expected to push the market for boat rental.
Improved consumer involvement in competitive and recreational boating events to drive boat rental market. The report has also studied the impact of revenue generated by key companies through electric boats, boat rental apps that address issues with standardisation in payments & customer service and other such platforms, which are making travel booking easier for personal travels as well as people who are traveling through private travel companies.
Sailing, rowing, jet skiing, kayaking, yachting, rafting, power boating, canoe racing, and other water sports are common recreational activities. Recreational boating services have been developed all over the world as a result of customer interest in water activities and increasing involvement across all age groups. Moreover, water sports are rising in popularity owing to a number of health recompenses as well as the thrill of getting fit. The market for outboard boats is also increasing as a result of the popularity of motorised water sports such as sailing, jet skiing, and yachting, as well as sport fishing. Also, a number of government associations have started to rank the promotion of water sports in recent years. A number of nations have started programmes to boost the construction of water sports facilities and recreational boating. As a result, one of the trends in the boat rental market that is improving demand globally is the increase in recreational water sports.
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Global Boat Rental Market Regional Insights
Based on region, boat rental market is segmentd by North America, Europe , APAC, MEA &Africa and South America. This analysis has been based on production trends, political reforms, regulatory changes, and demand. Europe leads the global boat rental market, accounting for a major revenue share in the year 2021. Europe is expected to be the fastest-growing market for boat rentals, with a market share of more than 35.78 percent by the end of 2029, due to the region's numerous tourist destinations. In terms of revenue, Spain and Italy are significant contributors. Furthermore, the growing popularity of fishing and water sports, as well as the presence of high-net-worth people are expected to drive the growth prospects for the European boat rental market during the forecast period.
North America accounts for a major share of the global boat rental market, thanks to the support of advanced platforms like Uber and Boatsetter. The United States continues to lead the boat rental market in the region owing to the nation's abundance of central boat-hire locations. Also, increased public spending on water sports and leisure travel is driving the market in the region.
| Market Size in 2021 | USD 18.45 Billion |
| Market Size in 2029 | USD 29.67 Billion |
| CAGR | 6.12% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 180 |
| No. of Tables | 90 |
| No. of Charts and Figures | 98 |
| Segment Covered | Propulsion Type, Boat Size, Boat Class |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Boat Rental Market Segmentation
By Propulsion Type:
- Fuel Powered
- Sail Boat
- Electric Boat
By Boat Size
- Up to 20 Feet
- 21 To 35 Feet
- Above 36 To 50 Feet
By Boat Class
- Luxury
- Sports
- Entry
Global Boat Rental Market Key Competitors:
- GetMyBoat, Inc.,
- Click&Boat,
- Sailo, SamBoat
- GlobeSailor
- Yachtico Inc.
- Boatjump SL
- BoatBureau
- Ocean Serenity
- Boatsetter
- Groupe Beneteau
- Zizoo
- BorrowABoat
- Samboat
- Incrediblue
- Boatbay
- West Coast Marine
- Odyssey Boats
- Le Boat
- THE MOORINGS
- Nautal.
Key questions answered in the Global Boat Rental Market are:
- What are Global Boat Rental?
- What is the growth rate of the Global Boat Rental Market over the forecast period?
- What is the nature of competition in the Global Boat Rental industry in developed economies and developing economies?
- Who are the key players in the Global Boat Rental Market?
- Who are the market leaders in Global Boat Rental in Europe?
- Who are the market leaders in Global Boat Rental in USA and Canada?
- Who are the market leaders in Global Boat Rental in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Global Boat Rental Market?
- Who held the largest market share in the Global Boat Rental Market?
- What are the factors for the growth of the Asia-Pacific region in the Global Boat Rental Market?
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Key Offerings:
- Market Share, market size, its growth rates & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by product, Needle Length, Therapy, and regions.
- Competitive Landscape – Top Key players and Other Prominent Vendors
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