Pune, India., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Boat Rental Market Size
The global boat rental market size was USD 97.97 million in 2020. The market is projected to grow from USD 100.91 million in 2021 to USD 280.02 million by 2028 at a CAGR of 15.70% during the 2021-2028 period. This insightful information is stated by Fortune Business Insights™, in its report, titled, “Boat Rental Market, 2021-2028.”
As per our analysts, OEMs are sturdily creating high-performance boats to meet the rising demand for water sports activities. Moreover, boat rental companies are presenting suitable bookings utilizing mobile applications as well as online platforms. Consequently, the market is anticipated to attain momentum in the upcoming period.
Boat Rental Market Drivers & Restraints-
Boat Rental Management Software to Ease Operations to Fuel Boat Rental Market Growth
Boat rental management software is a competing aspect among competitors. Rent Rabbit is an online boat hiring management application, which counts performance by reviewing bookings in the shape of records and aids to personalize the rental reservation method. These companies are enabling customers of user-friendly mobile apps, which aid business owners to administer functioning on the go. Instantaneous booking features are popular in mobile apps. Precise understandings and statistics about bookings and reservations gained via data science and machine learning are assisting companies to enhance their business network.
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Boat Rental Market Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 15.70% |
| 2028 Value Projection | USD 280.02 Million |
| Base Year | 2020 |
| Market Size in 2021 | USD 100.91 Million |
| Historical Data for | 2017-2019 |
| No. of Pages | 200 |
Boat Rental Market Competitive Landscape-
Groundbreaking Product Launch by Vital Players to Reinforce Market Growth
The important players embrace numerous tactics to spur their position in the market as dominating companies. One such pivotal tactic is obtaining companies to encourage the brand value among users. Another crucial strategy is intermittently launching pioneering products with meticulous examination of the market and its target audience.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:https://www.fortunebusinessinsights.com/boat-rental-market-105068
Boat Rental Market Segments-
Propulsion Type, Boat Size, Boat Class, and Region are Studied
On the basis of propulsion type, the market is divided into fuel powered, sail boat, and electric boat. The fuel-powered segment holds the biggest share globally and is anticipated to retain it throughout the forecast period.
By boat size, the market is divided into up to 20 feet, 21 to 35 feet, and above 36 to 50 feet.
In terms of boat class, the market is further classified into luxury, sports, and entry.
Geographically, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
| Segmentation | By Propulsion Type
|
By Boat Size
| |
By Boat Class
|
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Boat Rental Market Regional Insights-
Europe stood at USD 36.39 million in 2020. The region is predicted to lead the global market owing to various tourist destinations. This region held the largest boat rental market share in 2020.
Asia Pacific is estimated to display the highest CAGR during the mentioned period. A considerable aspect boosting the growth of this region is the augmented population in China and India, which is responsible for over 38% of the global population.
North America grasps the third-largest position in the market owing to various cruising destinations approved with a different coastline.
Report Coverage:
The report presents insightful information gained through rigorous review done by our researchers. Moreover, an expansive research was commenced to offer the predicted size of the market. The data applied to project the shares for multiple segments at the country, domestic, and global levels is attained from detailed meetings with several stakeholders. Additionally, we have attained access to various international as well as regional paid records to offer accurate information to make business investment decisions effortless.
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Boat Rental Companies Analzyed in Report:
- GetMyBoat (San Francisco, U.S.)
- Groupe Beneteau (Croix-de-Vie, France)
- Boatsetter (Florida, U.S.)
- Globesailor (Paris, France)
- Click&Boat (Paris, France)
- Zizoo (Berlin, Germany)
- Nautal (Barcelona, Spain)
- Sailo (Greater New York, U.S.)
- Incrediblue (London, U.K.)
- Boatjump (Valencia, Spain)
COVID-19 Impact:
Consumer to Owner Rentals Hike with COVID-19 Stay-at-Home Orders Relaxation to Spur Growth
As the COVID-19 lockdown restrictions are partly terminated, numerous people are renting boats to take a break as well as follow social distancing guidelines. Moderations in lockdown guidelines by governments have funded the revenue growth of the market. People are bearing in mind direct consumer-to-owner rentals, as numerous rental locations are resurrecting their business.
Boat Rental Industry Development:
- September 2021: Gloucester gained its prime electric and solar-powered boat. The whole fleet is electric and is managed by Jack Merrett in Gloucester. These boats are accessible for rental purposes seven days a week, with prices beginning from just USD 40.78 (£30) for a half-hour expedition.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Distribution Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Impact of COVID-19
- Global Boat Rental Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Propulsion Type
- Fuel Powered
- Sail Boat
- Electric Boat
- Market Analysis, Insights and Forecast – By Boat Class
- Luxury
- Sports
- Entry
- Market Analysis, Insights and Forecast – By Boat Size
- Up to 20 feet
- 2to 3feet
- 36 to 50 feet
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Boat Rental Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Fuel Powered
- Sail Boat
- Electric Boat
- Market Analysis – By Boat Class
- Luxury
- Sports
- Entry
- Market Analysis, Insights and Forecast – By Boat Size
- Up to 20 feet
- 2to 3feet
- 36 to 50 feet
- Market Analysis – By Country (Value)
- U.S.
- By Boat Class
- Canada
- By Boat Class
- Mexico
- By Boat Class
- Europe Boat Rental Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Fuel Powered
- Sail Boat
- Electric Boat
- Market Analysis – By Boat Class
- Luxury
- Sports
- Entry
- Market Analysis, Insights and Forecast – By Boat Size
- Up to 20 feet
- 2to 3feet
- 36 to 50 feet
- Market Analysis – By Country (Value)
- U.K.
- By Boat Class
- Germany
- By Boat Class
- France
- By Boat Class
- Rest of Europe
- By Boat Class
- Asia Pacific Boat Rental Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Fuel Powered
- Sail Boat
- Electric Boat
- Market Analysis – By Boat Class
- Luxury
- Sports
- Entry
- Market Analysis, Insights and Forecast – By Boat Size
- Up to 20 feet
- 2to 3feet
- 36 to 50 feet
- Market Analysis – By Country (Value)
- China
- By Boat Class
- Japan
- By Boat Class
- India
- By Boat Class
- Rest of Asia Pacific
- By Boat Class
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