NMMA Report Shows Innovation Driving Boat Sales

The National Marine Manufacturers Association (NMMA), which represents approximately 85% of the U.S. market for recreational boat, marine engine and accessory manufacturers, reported total new powerboat retail unit sales in 2024 declined an estimated 9%-12%, to approximately 230,000-240,000 units in the United States. Throughout 2024, the industry continued to normalize following record demand during the COVID-19 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.

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.

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, 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 about accessibility.

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 United States 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 United States 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