Press Release
Press Release
The market for boat rental is being driven by rising tourism across the globe. Tourism is skyrocketing with the growing middle-class sectors, increasing disposable incomes, demographic shifts, and increasing convenience in travel research and bookings, hence aiding the boat rental market growth.
The rising awareness of destinations with the growing social media and travel websites is further reinforcing tourism at a significant rate. It is estimated that by 2025, more than 280 million households in India and China will be travelling overseas each year.
About 80% of the tourism is conducted in coastal areas with beach holidays and leisurely activities such as diving, sports fishing, and cruising making up a prominent part of the blue economy on a global scale. Boat rental companies are capitalising on the growing marine tourism, with rental companies offering various kinds of boats including fuelled and unfuelled, and with crew and without crew.
Moreover, luxury boats are gaining traction as they offer the best experience to renters. Private yachts and boats are in high demand due to their exclusivity and privacy. Europe and the United States are prominent regions in the market due to the presence of a large stretch of coastline, the rising tourism sector, and the high number of private islands.
Increasing expansion activities by key players are favouring the market demand. For instance, in February 2022, Vision Marine Technologies, Inc. (NASDAQ: VMAR) partnered with Blue Water Boat Rental to expand their electric rental boat operation into Florida, boosting visitor engagement and year-round operations.
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The major players in the global boat rental market are GetMyBoat, Inc., Boatjump S.L., Nautal Smart Sailing S.L., Yachtico GmbH, Zizooboats GmbH, Sailo Inc., Boatsetter, Inc., and Le Boat (Crown Travel Limited), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Propulsion |
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Breakup by Boat Length |
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Breakup by Business Model |
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Breakup by Boat Class |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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