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Boat rental is a service of renting a boat for vacation, leisure, or business purposes. Whether spending time fishing with one’s loved ones, partying on a yacht, cruising, or having a business trip, boat rental demand has increased by nearly 10% in recent years. Chartered boats for luxury and business offer the highest standards and comfort, and the skilled crew and opulent amenities take that renting experience up a notch. As per Fortune Business InsightsTM, the global market of boat rental was valued at 100.91 million in 2021 and is anticipated to hit USD 280.02 million by 2028 at a CAGR of 15.70% during the 2021-2028 period.
The coronavirus pandemic ravaged the demand for boat rentals. However, partial and gradual uplift of COVID-19 restrictions has helped the market gain traction as many rental companies reopened. Adhering to social distancing rules, boat rental owners started using mobile apps and servers to avoid the spread of coronavirus. Sanitized docks and equipment, limited people onboard, and high importance to wearing masks are a few critical protocols being followed by boat rental service providers. Though the pandemic inflicted severe damage on rental services, resuming activities are helping these services to increase.
The increasing per capita income levels, ease of operations through boat rental management software, and rising number of private islands are a few factors stimulating the demand for these services.
Fortune Business Insights Identifies the Top 5 Leading Boat Rental Service Providers in the Market:
Founded by French entrepreneurs Jérémy Bismuth and Edouard Gorioux in 2013, Click&Boat enables boat owners to rent their boats to tourists and sailing enthusiasts. The company inaugurated its fifth office in Barcelona in July 2020. The company has access to above 400,000 registered members and listed approximately 35,000 boats in Europe and around the world in August 2020. In March 2020, the company acquired Scansail, a German boat renting company, denoting the company’s first international acquisition. The company later acquired its top competitor ‘Nautal’ in July 2020. Recently in July 2021, the company partnered with Permira and Boats Group to fortify its presence in the global market.
Famously recognized as the ‘Airbnb of Boats’, the company was established in Florida, U.S. in 2012, and currently possesses above 15,000 active vessels in Canada and the U.S. Operating in more than 600 locations and 20,000 listed boats, the company’s boats sail across the Mediterranean, the Caribbean, and North America. In May 2021, the company completed the acquisition of Fisher Guiding, a swiftly-expanding U.S.-based marketplace for fishing charters. Later, the company launched a fleet of exclusive luxury term-charters called the Boatsetter Lux in June 2021. Boatsetter Lux operates with a dedicated concierge team available across more than 600 locations globally.
Sailo is a global yacht charter and boat rental marketplace connecting renters, charter companies, and boat owners on an easy-to-use, secure, and seamless platform. The company possesses an inventory of catamarans, luxury mega yachts, sailboats, and powerboats across 500 locations in over 50 countries and three continents across the globe. Sailo’s boats navigate through the most beautiful locations globally, including sailing from Miami, San Francisco, and New York to Phuket, Lisbon, Athens, and others.
Launched in January 2013, GetMyBoat is one of the world’s largest water boat rental and water experience marketplace. The company covers over 9,300 destinations with more than 140,000 listings across 184 countries. It enables boat owners to post their watercraft for rent for free. Users can search and book water experiences from anywhere across the globe. The company partnered with FareHarbor in January 2020 to provide safeguards to prevent double bookings, single point-of-calendaring, tools for users to manage their bookings on two systems, with full cross-platform compatibility. The company collaborated with Uncharted Society in July 2020 to launch a series of Sea-Doo experiences and rental options for summer.
Established in Vienna, Austria, Zizoo is a popular boat holiday platform that offers more than 30,000 boats in 500 destinations globally. With its headquarters in Berlin, Germany, the company caters to licensed sailors eyeing a boat booking. For those with no sailing experience, a captain and an optional crew can also be availed. The simplified user interface of the app assists travelers in finding the right boat. The shareholders of the company include some of the most reputable investors, including Russmedia, AWS Founder Fund, Axel Springer Digital Ventures, and Mairdumont Ventures.
Improving consumer income levels, living standards, urbanization, and growing expenditure on leisure and recreational activities are predicted to uptick the demand for boat rentals. The expanding travel and tourism industry is likely to amplify the market growth. Furthermore, a stellar growth rate is anticipated to be witnessed by the market.