The National Marine Manufacturers Association (NMMA) announced today a decline in total new powerboat retail unit sales for 2024, projecting a decrease of approximately 9% to 12%. This decline translates to an estimated 230,000 to 240,000 units sold across the U.S. market. The boating industry continues to adjust following an unprecedented surge in demand during the COVID-19 pandemic, while contending with ongoing inflation and rising interest rates.
Looking forward to 2025, the NMMA anticipates a rebound in new powerboat sales driven by innovative products, favorable changes in U.S. economic policies, and unwavering consumer demand for on-water experiences. Since 2020, Americans have flocked to water activities, and boating expenditures are expected to soar in 2025, predicting an increase of 3% to 5% over the anticipated total of $55 billion for 2024.
Among the market segments, new freshwater fishing boats, one of the largest by volume, maintained steady sales throughout 2024, projected to remain flat year-over-year at around 51,000 to 54,000 units. Meanwhile, personal watercraft and pontoon boat sales faced slight declines, with estimates between 70,000 to 75,000 and 52,000 to 55,000 units sold, respectively—both experiencing drops ranging from 10% to 13%. These categories continue to attract value-seeking buyers thanks to their versatility, lower price points, and ease of use for towing to local waterways.
Innovation Paving the Way for Accessibility
As the recreational boating sector charts its path to recovery, a commitment to innovation remains at the forefront. Upcoming boat shows are expected to showcase the latest technologies and product launches aimed at enhancing accessibility. Innovations range from AI-powered autonomous docking systems that simplify navigation, to diverse propulsion systems utilizing low-carbon fuels and hybrids, all contributing to a more sustainable boating experience. Additionally, boat clubs, sharing apps, and rental platforms underline an industry trend prioritizing greater accessibility.
“The U.S. recreational boating industry, with 95% of boats sold domestically manufactured in the country, has continuously leveraged innovation to fuel growth,” said Frank Hugelmeyer, NMMA president and CEO. “Shifts in consumer preferences towards flexibility and on-demand experiences have paved the way for exciting new opportunities to engage with the water.”
Recreational Boating as an Economic Indicator
Recreational boat sales serve as a valuable economic indicator, particularly since approximately 61% of U.S. boat buyers earn an annual household income of $100,000 or less. Hugelmeyer emphasized the importance of consumer confidence, spending power, affordable credit, and access to waterways as vital factors influencing boat sales. With stable conditions in these areas, alongside a healthy global supply chain, new boat sales are positioned to continue their stability in the coming year.
January marks the kickoff of one of the most important selling seasons for the industry, with boat shows acting as major shopping venues for consumers. Unlike auto shows, boat shows facilitate actual purchases, generating up to 60% of annual industry sales. Among these events, the Discover Boating Miami International Boat Show, owned by NMMA, is set to attract an estimated 100,000 attendees next month, showcasing the latest offerings from hundreds of retailers.
As interest in boating persists among Americans seeking wellness and adventure, the upward trend in boating expenditures, hitting the $55 billion mark in 2024, is expected to continue.
A Snapshot of U.S. Recreational Boating
The recreational boating industry stands as a substantial pillar within the $1.2 trillion outdoor recreation economy, contributing 2.3% to the nation’s GDP. It supports over 812,000 American jobs and more than 36,000 businesses nationwide, with an impressive 85 million Americans participating in boating each year. Notably, 95% of boats sold in the U.S. are produced domestically, underscoring the industry’s significant role in the economy.
As the boating landscape evolves, the NMMA remains committed to fostering innovation, enhancing accessibility, and supporting consumer engagement, ensuring the future of recreational boating continues to thrive.
For further information about NMMA and the recreational boating industry, please visit www.nmma.org.