U.S. Boat Sales Reached Second Highest Volume in 12 Years in 2019, Expected to Remain Strong in 2020
The National
Marine Manufacturers Association (NMMA), representing North American
recreational boat, engine and marine accessory manufacturers, announced
today that as it finalizes 2019 sales numbers, retail unit sales of new
powerboats are estimated to have held steady in 2019 at approximately
280,000 units, the second highest total since 2007. The busy winter boat
show season kicks off this week across the country with new powerboat
sales expected to be up as much as 2 percent in 2020.
"Sales in 2019 were nearly on par with the 11-year high we saw in 2018,
even with some softening particularly in the freshwater fishing
category, which we attribute to unseasonably cold and rainy weather in
spring and early summer. Looking at 2020, with the economy on solid
footing and key economic indicators like consumer spending remaining
strong, we expect another healthy year for new boat sales, which could
be up as much as 2 percent," said Frank Hugelmeyer, NMMA president.
"With approximately $42 billion per year in retail expenditures, boating
is not only an economic driver but a unique vehicle for the kind of
meaningful experiences consumers are seeking more and more?ones that
take you outdoors, bring together family and friends, and create lasting
memories."
The following new powerboat categories drove retail unit sales momentum
in 2019:
New personal watercraft sales are estimated to be up 6 percent
to 73,000 units in 2019; with accessible entry-level price points,
personal watercraft are often considered a gateway to boat ownership.
Sales of new wake sport boats?popular for wakesurfing and
wakeboarding and attractive to new and younger boaters?are estimated
to be up 6 percent to 11,000 units in 2019.
New cruiser sales?boats between 22 and 32 feet, popular for
relaxing, entertaining and ?cruising'?are estimated to be up 3 percent
to 9,000 units in 2019.
However, new freshwater fishing boat sales?a high-volume
category?are estimated to be down 7 percent to 69,000 units in 2019.
U.S. boat manufacturers and dealers are gearing up for the winter boat
show season around the country, an important marketing venue where
manufacturers introduce their latest products and consumers come to buy.
Based on association estimates, boat shows can generate 50 percent or
more of annual sales for exhibiting dealers and manufacturers.
Shoppers at a boat show can expect to find some of the best deals of the
year with the added convenience of comparing different boat models, and
different dealers, in one location.
U.S. Recreational Boating by the Numbers
Additional statistics on the industry's size, makeup and demographics
include:
Annual U.S. sales of boats, marine products and services are estimated
to total $42 billion in 2019, up slightly from 2018.
Retail unit sales of new boats are estimated to have reached
approximately 280,000 units in 2019, the second highest level since
2007 and flat with 2018 totals.
Leading the nation in sales of new powerboat, engine, trailer and
accessories in 2018 were the following 10 states (2019 estimates
available in the spring):
1. Florida: $3.2 billion, up 8 percent from 2017 2. Texas:
$1.8 billion, up 9 percent from 2017 3. Michigan: $1.1
billion, up 10 percent from 2017 4. North Carolina: $914
million, up 9 percent from 2017 5. Minnesota: $861 million,
up 6 percent from 2017 6. Wisconsin: $781 million, up 9
percent from 2017 7. New York: $775 million, up 5 percent
from 2017 8. California: $765 million, up 6 percent from 2017 9.
Georgia: $680 million, up 8 percent from 2017 10. South
Carolina: $661 million, up 4 percent from 2017
It's not just new boats Americans are buying; about 975,000 pre-owned
boats are estimated to have been sold in 2019, down slightly from 2018.
There were an estimated 11.9 million boats registered and documented
in the U.S. in 2019, relatively unchanged from 2018.
Ninety-five percent of boats on the water (powerboats, personal
watercraft and sailboats) in the U.S. are small in size, measuring
less than 26 feet in length?boats that can be trailered by a vehicle
to local waterways.
Sixty-two percent of boat owners have a household income less than
$100,000, making boating a solidly middle-class recreational pursuit.
Outdoor recreation accounts for 2.2 percent of U.S. GDP, generating
$778 billion in gross economic output?on par with the
telecommunications industry (2.3 percent)?of which recreational
boating and fishing is the single largest segment, contributing nearly
$40 billion in gross output. (Source: U.S.
Department of Commerce, Bureau of Economic Analysis)
About NMMA: The National Marine Manufacturers Association (NMMA)
is the leading trade organization for the North American recreational
boating industry. NMMA member companies produce more than 80 percent of
the boats, engines, trailers, marine accessories and gear used by
millions of boaters in North America. The association serves its members
and their sales and service networks by improving the business
environment for recreational boating including providing domestic and
international sales and marketing opportunities, reducing unnecessary
government regulation, decreasing the cost of doing business, and
helping grow boating participation. As the largest producer of boat and
sport 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 Twitter
and LinkedIn.
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