Boat Rental Market Worth USD 280.02 Million by 2028 | Fortune Business Insights
The global boat rental market is projected to grow from USD 100.91 million in 2021 to USD 280.02 million by 2028. The market is expected to grow at CAGR of 15.70%. Rise in disposable income, increasing tourism, and growing popularity of water sports to boost the market growth: Fortune Business Insights™
Pune, India., Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to latest report published by Fortune Business Insights, the global boat rental market size was valued USD 97.97 million in 2020, and the market is forecast to grow worth USD 280.02 million by 2028, at CAGR of 15.70% during forecast period. Increasing growth of marine tourism, development of technologically advanced boats and the introduction of new rental models are also driving the market. to boost the market growth during forecast period.
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.
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Key Takeaways:
Europe stood at USD 36.39 million in 2020. The region is expected to dominate the global boat rental market due to numerous tourist destinations.
The growing popularity of water sports, fishing, and marine tourism in India, Japan, Malaysia, China, and Australia creates significant boat sports opportunities.
Up to 20 feet Segment is expected to hold the Largest Market Share
High Cost of Boats and Higher Taxation on renting Boats May Restrain Market Growth
Increasing growth of Marine Tourism is anticipated to Propel Market Growth
Direct Consumer to Owner Rentals Surge with Relaxations in COVID-19 Stay-at-Home Orders
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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Competitive Landscape
Ground breaking 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.
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
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By Boat Size
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By Boat Class
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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.
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A list of prominent Boat Rental manufacturers operating in the global market:
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)
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
21 to 35 feet
36 to 50 feet
Market Analysis, Insights and Forecast – By Region
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
21 to 35 feet
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
21 to 35 feet
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
21 to 35 feet
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
Rest of the World Boat Rental Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis – By Propulsion Type
9.2.1 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
21 to 35 feet
36 to 50 feet
Competitive Analysis
Key Industry Developments
Global Market Share Analysis (2020)
Competition Dashboard
Comparative Analysis – Major Players
Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
GetMyBoat (San Francisco, USA)
Groupe Beneteau (Croix-de-Vie, France)
Boatsetter (Florida, USA)
Globesailor (Paris, France)
Click&Boat (Paris, France)
Zizoo (Berlin, Germany)
Nautal (Barcelona, Spain)
Sailo (Greater New York, USA)
Incrediblue (London, UK)
Boatjump (Valencia, Spain)
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