Boat Rental Market Report 2025

The boat rental market size has grown strongly in recent years. It will grow from $18.6 billion in 2024 to $19.77 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to leisure and tourism trends, changing consumer preferences, popularity of water-based activities, accessibility to coastal and inland waters, emergence of peer-to-peer boat rentals.

The boat rental market size is expected to see strong growth in the next few years. It will grow to $26.11 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to rising disposable incomes, preference for sustainable and eco-friendly experiences, growing tourism industry, marketing and online platforms, innovative rental models. Major trends in the forecast period include adoption of virtual and augmented reality for boat previews, integration of contactless check-in and check-out procedures, collaborations with tourism and hospitality partners, development of AI-powered boat recommendations, focus on educational and safety training for renters.

The global expansion of the marine tourism sector is anticipated to drive the growth of the boat rental market in the coming years. Marine tourism includes a range of enjoyable activities that involve travel to coastal environments, such as sailing on boats, taking cruises, and using yachts for leisure or business purposes. As marine tourism grows, so does the demand for boat rentals. For instance, in 2023, the National Drowning Report from Royal Life Saving Australia noted that the boating industry in Australia achieved a national turnover of $9.64 billion for the fiscal year 2022-23, according to the Boating Industry Association of Australia. This data highlights the significant economic impact of the boating sector, as well as ongoing safety concerns related to water activities. Therefore, the global expansion of marine tourism is driving the growth of the boat rental market.

The increasing water-borne trade is expected to significantly boost the growth of the boat rental market in the coming years. Water-borne trade involves the transportation of goods, commodities, or passengers via oceans, seas, rivers, and other navigable waterways. Boat rentals play a crucial role in this sector by offering a cost-effective option for businesses, providing flexibility and scalability, and granting access to specialized vessels without the burdens of maintenance costs or capital investments. This model allows companies to expand their geographical reach without establishing a permanent presence in specific locations. For instance, in August 2024, the UK government reported a growth of 0.8% in the services sector over the three months leading up to June 2024, with output rising in 11 of the 14 subsectors. Overall, services output increased by 2.5% during this period. Therefore, the growth of water-borne trade is driving the expansion of the boat rental market.

The prevailing trend gaining significant traction in the boat rental market is technological advancement, with major companies in the sector actively dedicating efforts to pioneering innovative technologies to fortify their market positions. An illustrative example is Vision Marine Technologies, a Canada-based manufacturer specializing in handmade, high-performance, eco-friendly, and electric recreational powerboats. In June 2022, the company introduced E-Motion technology, a groundbreaking development in the realm of high-performance electric propulsion engines. This technology integrates a 180-horsepower (135 kW) motor with a sophisticated battery management system, resulting in a remarkable 90% reduction in energy costs. E-Motion not only enhances overall performance and range but also eliminates the need for additional charging infrastructure or devices. A notable feature is its compatibility with a standard 220-volt charging outlet, which is readily available in the infrastructure of nearly every marina. This strategic focus on technological innovation underscores the commitment of major players to stay at the forefront of the boat rental market by offering cutting-edge solutions that cater to evolving consumer needs and environmental considerations.

Prominent players in the boat rental market are actively pursuing product innovation to gain a competitive advantage, with a focus on the development of new offerings such as GPS tracker models. These models involve devices or units that leverage global positioning system (GPS) technology to track and locate objects, including vehicles, assets, or individuals. A case in point is WAIV Technologies Inc., a US-based provider of GPS tracking solutions, which introduced XStream, a solar-powered GPS tracker, in April 2023. Specifically designed for companies engaged in boat and jet ski rentals, the XStream GPS tracker stands out as the first of its kind with capsize detection capabilities, running entirely on solar power. This innovation aims to simplify fleet management for rental operators, providing real-time situational awareness. The solar-powered aspect of the tracker not only offers a sustainable solution but also caters specifically to the needs of boat rental companies, granting them access to real-time location data and streamlining the process of asset tracking within their operations. This strategic focus on cutting-edge technology exemplifies the commitment of major companies to differentiate themselves in the competitive boat rental market.

In February 2022, Yanmar Holdings Co. Ltd., a Japan-based company specializing in marine equipment, successfully acquired GetMyBoat Inc. in an undisclosed transaction. This strategic move is part of Yanmar's broader digital transformation initiatives, aiming to extend its technological footprint across various business domains and enhance its offerings within the marine industry. Through the acquisition of GetMyBoat Inc., Yanmar intends to leverage cutting-edge technologies to evolve into a more customer-focused entity, particularly within the construction and maritime sectors. GetMyBoat Inc., based in the United States, operates as a platform that connects boat owners with individuals seeking to rent boats or access water-related experiences. This acquisition underscores Yanmar's commitment to innovation and diversification, positioning itself for growth and heightened customer engagement in the evolving landscape of the marine industry.

Major companies operating in the boat rental market include GetMyBoat Inc., Brunswick Corporation, BRP Inc., Beneteau Group, Blue Bay Marine, Blue Boat Yacht Entertainment Company, Boatjump S.L., Boatsetter, Click&Boat, GlobeSailor, Incrediblue, Le Boat, Yachtico, Dream Yacht Charter, Nautal, SamBoat, Sailo, Boatsetter, Sunsail, Moorings, MarineMax, Freedom Boat Club, West Coast Boat Rentals, Miami Boat Charters, NY Boat Charter, CharterLux, European Boating Holidays, BoatyBooker, YachtLife, and Borrow A Boat.

Europe was the largest region in the boat rental market in 2024. North America is expected to be the fastest-growing region in the global boat rental market report during the forecast period. The regions covered in the boat rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boat rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Boat rental involves the process of leasing or chartering a boat from either an individual owner or a rental company. This option offers a personalized experience, enabling renters to select a yacht based on their specific interests and sailing expertise.

The primary boat types in the boat rental market include inboard boats, outboard boats, sailboats, and other variations. Inboard boats feature a propulsion system enclosed within the hull, typically connected to a propeller via a driveshaft. These boats are commonly utilized for wakeboarding. Boats in this market come in different size categories such as less than 30 feet, between 30 and 79 feet, and greater than 79 feet, and they can be powered by engines, human propulsion, or sails. They cater to various activities such as sailing and leisure pursuits, fishing, and other recreational endeavors.

The boat rental market research report is one of a series of new reports that provides boat rental market statistics, including boat rental industry global market size, regional shares, competitors with a boat rental market share, detailed boat rental market segments, market trends and opportunities, and any further data you may need to thrive in the boat rental industry. This boat rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The boat rental market includes revenues earned by entities by renting electric boats, fuel-powered, outboard engines boats, inboard engine boats, and jet-drive engine boats. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.