Boat Sharing & Rental Market

by Claudio
The boat rental market is increasing or decreasing with time? How much is worth now and how much will be worth in 2030? Finally, what is the main propulsion type?

Boat renting is becoming increasingly popular. More and more people want to experience luxury at a low cost and renting a boat is a simple and handy method to own one without really owning one.

At c.technology we are aware of the size of the boat rental market due to the large and growing amount of clients that we have. Our software helps the activities of all the players involved in the market, manufacturers that produce boats engines, professionals that have a rental company, and finally private persons that want to track the position, performance and data of their own boat.

Current market size

According to several reports (source), the boat rental market is large and is valued CHF 18 Billion as of 2022. To compare this number, the market size of boat renting industries is slightly larger than the market size of space technologies (source).

Globally, due to climate issues, the popularity of electric engines is increasing. The awareness and the attention of people to climate change is causing the whole field of vehicles (cars, boats, motorcycles) to shift towards electric engines. Electric boats are marine vessels with electric drive as propulsion technology. These boats use battery power for the propulsion of the rotor to achieve maximum speed.

Example Boat Sharing Plattform ship-ahoy, Switzerlands frist Boat Sharing.

Today, electric boats are making their way into the market. As can be seen from the pie chart above, electric boats roughly have 3% share of the market. However, they are projected to grow exponentially over the next 10 years. The growth of electric boats is predicted to drive the global size of boat renting.

In the pie chart above, we can see that the boat rental market is influenced by fuel powered and sail boats, with the former being the dominant segment.

Future market size

Over the next 8 years the global boat rental market is expected to grow steadily. People increasing income per capita, a growing interest in tourism and luxury activities are predicted to drive the global boat rental market growth. The boat rental market is expected to grow with a CAGR (compound annual growth rate) of 6,12%. In other words, each year the global market size of boat renting will grow by 6,12%.

The market is expected to reach 30 CHF billion as of 2030 (source). The importance of electric boats is predicted to increase over time. While the general market will increase with a CAGR of 6,12% over the next 8 years, the electric boat market will increase by roughly 13% over the same period (source). By 2030 the market size of electric boat rental is predicted to reach 1.5 CHF Billions, accounting for 5% of the global boat rental market size.

Conclusions

To conclude, the global market size of boat rental is expected to grow significantly over the next few years, with the electric segment predicted to overperform in the near future.

In such a growing market, it is very important to be on top of the competition. Digitalization and cloud services can help rental companies to stay updated with the new technological trends. In this aspect, c.technology is providing a range of tech-offers for different sized businesses. Cloud services can track your boat providing security, data analysis and useful insights over the performances of the companyโ€™s boat fleet. The performance, and subsequently revenues, of a rental company can be boosted by adopting c.technology services.