Innovation Boosts U.S. Boat Sales as Winter Show Season Begins
The National Marine Manufacturers Association (NMMA), a leading trade group representing approximately 85% of the U.S. market for recreational boats, marine engines, and accessories, has reported that total retail sales of new powerboats in 2024 are projected to decline by an estimated 9% to 12%. This drop brings the total number of new boats sold in the U.S. for 2024 to approximately 230,000 to 240,000 units. The decline follows the record-breaking demand during the COVID-19 pandemic, a period when boating saw a massive surge in popularity. As the industry normalizes, it faces several ongoing challenges, including persistent inflationary pressures and rising interest rates.
Looking ahead to 2025, however, the NMMA expects sales to begin showing signs of growth once again. This anticipated recovery is expected to be driven by a combination of innovative new products, shifts in U.S. economic policies, and continued consumer demand for on-water experiences. The boating industry is expected to see sustained high levels of consumer spending, with U.S. boating expenditures in 2025 likely to exceed the $55 billion expected to be spent in 2024 by 3% to 5%.
Boat Sales Trends in 2024
In terms of specific boat segments, new freshwater fishing boats, one of the largest and most popular categories, have held steady in 2024. Sales of these are expected to finish the year relatively flat compared to 2023, with an estimated 51,000 to 54,000 units sold. Other major categories seeing sales in 2024 include new personal watercraft, projected at around 70,000 to 75,000 units, and new pontoon boats, with approximately 52,000 to 55,000 units expected to be sold. Both categories are anticipated to see a decline in sales of 10% to 13% compared to 2023. These types of are often favored for their versatility and ease of use, as they can be towed to local waterways and represent a more affordable price point for buyers seeking value.
Continued Innovation in the Boating Industry
As the boating industry moves into a new phase of growth, one of the most significant factors driving demand is innovation. shows, which are central to showcasing new products, will highlight advancements that make boating more accessible and appealing to a broader range of consumers. These shows are expected to feature cutting-edge technologies designed to enhance the boating experience, from autonomous docking systems powered by advanced artificial intelligence (AI), to propulsion systems powered by low-carbon fuels and hybrid technologies, which are making more sustainable.
Additionally, new models forownership are gaining traction, including clubs, sharing apps, and rental platforms, all of which are designed to make it easier for people to access without committing to full ownership. This focus on accessibility reflects a broader trend within the industry to adapt to changing consumer needs.
Frank Hugelmeyer, President and CEO of the NMMA, emphasized that the U.S. industry is unique in its focus on innovation, with 95% of boats sold in the U.S. being manufactured domestically. He stated that American manufacturers continue to push the boundaries of technology and product design, which has been a driving force behind the growth of recreational both in the U.S. and globally. Hugelmeyer also highlighted key consumer trends, such as demand for flexibility, on-demand experiences, and user-friendly technology, which have paved the way for new solutions and experiences that make more versatile and enjoyable.
Boating as an Economic Indicator
Recreational boat sales often serve as an economic barometer, as they are considered a discretionary purchase. Hugelmeyer noted that many buyers in the U.S. have an annual household income of $100,000 or less, meaning that the broader economic conditions, such as consumer confidence, spending power, credit availability, and access to waterways, play a critical role in determining the health of the boating market. When these factors align, newsales tend to remain stable or grow.
Looking ahead, the NMMA anticipates that the stability of the U.S. economy and the continued availability of affordable credit and access to waterways will help maintain a positive outlook for the industry in 2025. The strength of the global supply chain and the ability of manufacturers to bring a wide variety of innovative products to market will also play a key role in the industry’s future growth.
The Role of Boat Shows in the Industry
shows represent one of the most important sales periods for the industry, especially as the year kicks off. Unlike auto shows, which focus primarily on the display of vehicles,shows are vital for consumers to shop for, negotiate, and purchase new , accessories, and boating services. These events provide an opportunity for retailers to display the latest products and innovations all in one place, allowing customers to explore a range of options and make informed purchasing decisions.
One of the largest and most influential events in the industry is the Discover Miami International Show, which is owned by the NMMA. Expected to attract more than 100,000 visitors in February, the show brings together enthusiasts, manufacturers, and retailers from around the world. In addition to showcasing the latest models, the show offers a comprehensive look at the lifestyle, including everything from accessories to services to experience-based offerings.
Throughout the U.S., many of the top 20 boating states saw growth in boating expenditures in 2023, and this trend is expected to continue into 2024. The U.S. market continues to benefit from Americans’ strong interest in spending time on the water, whether it’s for recreation, fitness, or wellness purposes. The opportunity to enjoy with friends and family, as well as the sense of freedom and adventure that offers, remains a powerful draw for consumers.
As we look to the future, the industry is poised for a period of sustained growth, driven by a combination of innovative products, shifting economic conditions, and an enduring passion for on-water experiences. While 2024 saw a decline in new power sales as the industry adjusted to post-pandemic trends and rising economic challenges, the outlook for 2025 is far more positive. With new technologies making more accessible, along with continued consumer interest in the lifestyle, the industry is set to rebound and thrive in the coming years.
The ongoing innovation in designs and the continued availability of new ways to experience —whether through clubs, rental services, or more sustainable and user-friendly technology—ensures that the appeal of recreational boating remains strong. With a renewed focus on accessibility, affordability, and sustainability, the industry is well-positioned for continued success in 2025 and beyond.