NMMA - National Marine Manufacturers Association Inc.

01/09/2025 | Press release | Distributed by Public on 01/09/2025 06:25

Innovation Driving U.S. Boat Sales Demand As Key Winter Boat Show Buying Season Gets Underway

WASHINGTON, D.C. (January 9, 2025) - The National Marine Manufacturers Association (NMMA), which represents approximately 85% of the U.S. market for recreational boat, marine engine and accessory manufacturers, reported today total new powerboat retail unit sales in 2024 declined an estimated 9%-12%, to approx. 230,000-240,000 units in the U.S. Throughout 2024, the industry continued to normalize following record demand during the COVID pandemic while navigating persistent inflationary pressures and rising interest rates.

Looking to 2025, NMMA anticipates sales of new powerboats to begin to show signs of a return to growth driven by innovative new products, changes in U.S. economic policies and consistent consumer demand for on-water experiences. With Americans continuing to hit the water in record numbers since 2020, U.S. boating expenditures in 2025 are expected to sustain those record highs and come in as much as 3-5% above 2024's anticipated final tally of $55 billion.
In terms of boat sales trends, new freshwater fishing boats, one of the largest boat segments from a volume standpoint, held steady in 2024 and are expected to end the year flat compared to 2023 at approximately 51,000-54,000 new units sold. The other two volume leaders in 2024 were new personal watercraft and new pontoon boats, estimated to see approximately 70,000-75,000 and 52,000-55,000 new unit sales, respectively, with expected declines between 10%-13% in 2024. In addition to providing a versatile experience, these categories often represent a lower comparable price point and ease of use as they are typically towed to local waterways, signaling continued demand for boating among value-seeking buyers.
Innovation Continues Driving Demand
As the industry navigates its growth path, there's a sustained focus on continued innovation. With boat shows being the place to see the latest technologies and new product launches available for consumers to buy, this year's shows will highlight new ways to experience boating, making it more accessible to more people. From autonomous docking systems built with increasingly advanced AI that make navigating a boat easier than ever, to an array of diverse propulsion systems powered by everything from low-carbon fuels to hybrid systems that make boating increasingly sustainable, to boat clubs, boat sharing apps and rental platforms-the theme from the industry this year is all about accessibility.
"As a uniquely American-made industry with 95% of boats sold in the U.S. having been made in the U.S., a focus on innovation by these American companies has provided a foundation for the growth of recreational boating throughout history, both in the U.S. and around the world. This year is no different as we've seen marine manufacturers and businesses continue to test a wide variety of technologies and boating experiences to support consumers' passion for enjoying the water," said Frank Hugelmeyer, NMMA president and CEO. "Trends in consumer preferences for flexibility, on-demand experiences, and easy-to-use technology-to name a few-have helped give rise to new ways to get on the water, making boating more accessible and versatile than ever."
New Boat Sales as Economic Barometer
"Recreational boat sales, often a discretionary purchase, can act as a barometer for the economy, especially since the majority of U.S. boat buyers (an estimated 61%) have an annual household income of $100,000 or less," noted Hugelmeyer. "Some of the key economic conditions that new recreational boat sales rely on include strong consumer confidence and spending power, affordable credit, and robust access to our waterways. With stable conditions in those areas, a healthy global supply chain, and the continued ability for marine manufacturers to bring a variety of technologies and products to market, we would expect new boat sales to remain stable in the year ahead."
The industry's boat shows kicking off in January are one of its most important selling seasons. Unlike auto shows, boat shows are where consumers go to shop, negotiate, and buy the newest boats, accessories, boating services, and experiences. With hundreds of boat retailers displaying the latest products from top brands, all in one place, these events put the consumer in the driver's seat, generating as much as 60% of annual industry sales. One of the largest boat shows, the Discover Boating Miami International Boat Show, owned by the NMMA, brings consumers from around the globe, and is expected to attract 100,000 people in February.
As shows take place around the country, of the top 20 boating states, the majority saw growth in boating expenditures in 2023, a trend line expected to continue and hit the $55 billion mark as 2024 data is finalized. This interest comes as Americans remain focused on their wellness from taking to the water as a way to connect with friends and family to enjoying the unique freedom and outdoor adventure boating provides.
U.S. Recreational Boating by the Numbers
Source: National Marine Manufacturers Association
  • Boating and fishing are the leading driver of the $1.2 trillion outdoor recreation economy, which contributes 2.3% of our nation's GDP. (Source: Bureau of Economic Analysis)
  • The recreational boating industry is an economic driver supporting more than 812,000 American jobs and more than 36,000 American businesses. (Source: NMMA Economic Impact Study)
  • Recreational boating is a uniquely American-made industry: 95% of boats sold in the U.S. are made in America.
  • An estimated 85 million Americans go boating each year.
  • Recreational boating isn't just for the one percent: 61% of boaters have an annual household income of $100,000 or less.
  • Ninety-five percent of boats on the water in the U.S. are less than 26 feet in length-boats that can be trailered by a vehicle to local waterways.
  • Leading the nation in sales of new powerboat, engine, trailer and accessories in 2023 were the following states:
    1. Florida: $6.4 billion, up 3.1% from 2022
    2. Texas: $2.4 billion, down 1.4% from 2022
    3. Michigan: $1.6 billion, down 2.9% from 2022
    4. North Carolina: $1.38 billion, up 1.1% from 2022
    5. Minnesota: $1.2 billion, down 3.5 % from 2022
    6. New York: $1.19 billion, down 1.7% from 2022
    7. Wisconsin: $1 billion, down 1.8% from 2022
    8. Georgia: $1 billion, up 1.2% from 2022
    9. California: $1 billion, down 3.9% from 2022
    10. Alabama: $991 million, up 2.8% from 2022
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About NMMA: The National Marine Manufacturers Association (NMMA) is the leading trade organization for the North American recreational boating industry. NMMA member companies produce approximately 85 percent of the boats, engines, trailers, marine accessories and gear used by millions of boaters in North America. Headquartered in Washington D.C., the association serves its members and their sales and service networks by bringing them together to expand domestic and international sales and marketing opportunities, support access to waterways, explore new technology and business solutions, and advocating for a sustainable future for the recreational marine community. As the largest producer of boat shows in the U.S., NMMA connects the recreational boating industry with the boating consumer year-round. Learn more at www.nmma.org and get engaged with us on Facebook, X and LinkedIn.