Boat Rental Market: Current Analysis and Forecast (2021-2027)
Emphasis on Business Model ((Charter, Day Cruise, Luxury Charter, Luxury Day Charter, Tour, B2B, Peer to Peer, Business to Consumer); Size (Up to 20 feet, 21 to 35 feet, 36 to 50 feet); Boat Class (Luxury, Sports, Entry, Others); Propulsion (Fuel Powered, Electric Boats, Sailed, Others); Region/Country
Global Boat Rental Market is anticipated display a CAGR of around ~4.8% over the forecast period (2021-2027). The boat rental sector is rising in tandem with the tourist and travel industry. A variety of boats in various types, styles, and sizes are available for rent, depending on the needs of the customer. Previously, these boats might be rented for weeks or months. On-demand boat rental services on an hourly and daily basis, on the other hand, are becoming increasingly popular. The majority of the time, these rental boats are used for both leisure and business purposes. They are also utilized for cruising, racing, and other adventure sports activities all over the world. Because owning a boat is expensive in terms of both money and upkeep, this service is the best alternative.
Insights Presented in the Report
“Amongst Business Model, Front Airbag segment dominated the market in 2020”
Based on business model, the market is segmented into Charter, Day Cruise, Luxury Charter, Luxury Day Charter, Tour, B2B, Peer to Peer and Business to Consumer. The peer-to-peer segment generated revenue of USD XX billion in 2020. Over the projected period, the peer to peer and business to consumer markets are expected to increase significantly. The availability of multiple platforms for peer-to-peer boat rental services has risen as digitization has increased
“Amongst Size, 21 to 35 feet segment dominated the market in 2020.”
Based on Size, the market is segmented into Up to 20 feet, 21 to 35 feet and 36 to 50 feet. The 21 to 35 feet segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027
“Amongst Boal Class, Luxury segment dominated the market in 2020.”
Based on boat class, the market is segmented in Luxury, Sports, Entry and Others. The Luxury segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. In comparison to other segments, luxury boats and yachts offer superior speed, comfort, safety, and privacy; as a result, they are often used for leisure trips and other activities
“Amongst Propulsion, OEM segment dominated the market in 2020.”
Based on propulsion, the market is segmented in Fuel Powered, Electric Boats, Sailed and Others. The fuel powered segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. The main cause of consumers preferring for fuel powered boats as it generates more power and perform efficiently
“North America represents as the largest market.”
For a better understanding of the market adoption of Boat Rental, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. North America holds the largest share in the market and is expected to grow at a higher rate during the forecasted period 2021-2027. One of the major factors of North America growth is the rising demand and spending on recreational boating activities. Some of the major players operating in the market includes GetMyBoat, Inc., Nautal, Le Boat, Boatsetter, Click&Boat, Beneteau Group, Boatjump, Sailo Inc., The Moorings and Zizooboats GmbH etc.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
Customization Options:
The Global Boat Rental Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future of the Global Boat Rental Market were the three major steps undertaken to create and analyze the adoption of Boat Rental across various regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Boat Rental Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Boat Rental, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by business model, by size, by boat class, and by propulsion. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Boat Rental Market in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing disposable income and increasing demand for recreational boating activities etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Boat Rental across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Boat Rental Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Boat Rental market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of business model, size, boat class, and propulsion channel type does major country/region globally.
The main objective of the Boat Rental Market Study
The current & future market trends of Boat Rental were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Boat Rental in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include business model, size, boat class, propulsion
- Defined analysis of the regulatory framework for the Global Boat Rental industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Boat Rental for the major regions & countries
- Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
- Company profiles of the Boat Rental Market players and the growth strategies adopted by them to sustain in the fast-growing market
- Deep dive regional & country level analysis of the industry
Related Reports
Customers who bought this item also bought
India 3PL Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Services (Domestic Transportation Management, International Transportation Management, Value-Added Warehousing and Distribution); By End User (Automobile, Chemical, Construction, Consumer Retail, Energy, Manufacturing, Life Sciences and Healthcare, Technology, and Others), and Regions (North India, East India, West India, and South India)
November 5, 2024
