In 2024, new powerboat retail unit sales in the US experienced a decline of approximately 9%-12%, totaling around 230,000-240,000 units. The National Marine Manufacturers Association (NMMA) revealed that the industry went through a phase of normalization after the surge in demand caused by the COVID-19 pandemic. This adjustment took place amidst inflationary pressures and increasing interest rates.
Looking ahead, NMMA foresees a positive shift in new powerboat sales in 2025. This growth is expected to be driven by the introduction of innovative products, alterations in US economic policies, and the unwavering demand from consumers for on-water experiences.
The boating expenditure for 2025 is projected to surpass the anticipated final figure of $55 billion for 2024 by up to 5%. Despite the overall decline in sales, specific segments like new freshwater fishing boats remained stable in 2024, with an estimated 51,000-54,000 units sold, maintaining parity with the previous year.
Among the top-selling categories in 2024 were new personal watercraft and new pontoon boats, with around 70,000-75,000 and 52,000-55,000 units sold, respectively. Both segments are expected to witness a decrease of 10%-13% in sales for the year.
A focus on innovation by these American companies has provided a foundation for the growth of recreational boating throughout history.
Frank Hugelmeyer
The emphasis on innovation remains strong within the industry. Advancements such as autonomous docking systems utilizing advanced AI and eco-friendly propulsion systems are reshaping the boating experience. Additionally, the sector is witnessing increased accessibility through boat clubs, sharing apps, and rental platforms.
Frank Hugelmeyer, the president and CEO of NMMA, highlighted the evolving consumer preferences towards flexibility, on-demand services, and user-friendly technology. These factors have facilitated the development of new avenues for experiencing boating, making it more accessible and versatile than ever before.
In 2023, the leading states in sales of new powerboats, engines, trailers, and accessories were Florida, Texas, Michigan, North Carolina, Minnesota, New York, Wisconsin, Georgia, California, and Alabama, showcasing the varying market dynamics across different regions.
The recreational boating industry, deeply rooted in American craftsmanship, has historically thrived on a culture of innovation and is poised for continued growth in the coming years.
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