U.S. Boating Industry Cruises into Summer with Highest Sales in Nearly a Decade
May 24 2017 - 6:30AM
Business Wire
$36 Billion American-Made Industry Sees
Fishing Boats, Pontoons and Watersports Boats Drive
Momentum
Memorial Day weekend signals the start of summer boating season
in the U.S., and today the National Marine Manufacturers
Association (NMMA), representing the nation’s recreational boat,
engine and marine accessory manufacturers, reports the $36 billion
U.S. boating industry is seeing some of its highest sales in nearly
a decade. Unit sales of new powerboats increased six percent in
2016, reaching 247,800 boats sold, and are expected to increase an
additional six percent in 2017 – a trajectory NMMA anticipates to
continue through 2018.
“Economic factors, including an improving housing market, higher
employment, strong consumer confidence, and growing disposable
income, are creating a golden age for the country’s recreational
boating industry,” notes Thom Dammrich, president of NMMA. “Summer
is a busy selling season for our industry, and we expect steady
growth to continue across most boat categories through 2017—and
into 2018—to keep up with the acceleration in demand for new
boats.”
Demand continues to grow across nearly all powerboat segments.
Outboard boat sales, which represent 85 percent of new traditional
powerboats sold, and include pontoons, aluminum and fiberglass
fishing boats, as well as small fiberglass cruising boats, were up
6.1 percent in 2016 to 160,900 units.
Sales of new ski and wakeboard boats, used for popular
watersports such as wakesurfing and wakeboarding, saw a
double-digit increase, up 11.5 percent to 8,700 boats. New personal
watercraft sales, often considered a gateway to boat ownership,
rose 7.3 percent to 59,000 craft, and jet boats, smaller fiberglass
boats that use jet engine technology to propel the boat, saw a
sales increase of 8.7 percent to 5,000 boats.
Sales of yachts (33’ and higher) saw gains of 3.5 percent,
reaching a seven-year high of 1,715 units in 2016.
“One of the standout areas of growth in 2016 was among yachts—a
category that has been slower to rebound as high net worth
individuals looked to remain more liquid post-recession,” notes
Dammrich. “Additional trends driving economic growth for the
industry include the creation of more affordable, versatile boats
manufactured to appeal to a new generation of boaters, more
intuitive marine technology making it easier to get on the water
and operate a boat, and an emphasis on shared experiences with the
introduction of more boat rental and shared boat ownership apps as
well as boat clubs that offer access to boats as part of a
membership fee.”
U.S. Recreational Boating by the Numbers (Source: NMMA’s 2016
Recreational Boating Statistical Abstract)
- Annual U.S. sales of boats, marine
products and services totaled $36 billion in 2016, an increase of
3.2 percent from 2015.
- There were approximately 247,800 new
power boats sold in 2016, and increase of six percent from
2015.
- The recreational boating industry in
the U.S. has an annual economic impact of more than $121.5 billion
(includes direct, indirect and induced spending), supporting
650,000 direct and indirect American jobs and nearly 35,000 small
businesses.
- Leading the nation in sales of new
powerboat, engine, trailer and accessories in 2016 were the
following states:
- Florida: $2.5 billion, up five percent
from 2015
- Texas: $1.4 billion, up five percent
from 2015
- Michigan: $868 million, up nine percent
from 2015
- Minnesota: $710 million, up nine
percent from 2015
- North Carolina: $689 million, up eleven
percent from 2015
- New York: $688 million, up 14 percent
from 2015
- Wisconsin: $622 million, up nine
percent from 2015
- California: $615 million, up 15 percent
from 2015
- Georgia: $551 million, up eleven
percent from 2015
- South Carolina: $544 million, up ten
percent from 2015
- It’s not just new boats Americans are
buying; there were an estimated 981,600 pre-owned boats
(powerboats, personal watercraft, and sailboats) sold in 2016,
totaling $9.2 billion in sales, an increase of two percent from
2015.
- There are an estimated 12.1 million
registered/documented boats in the U.S. in 2015.
- 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.
- Sailboat sales rebounded in 2016 with
6,500 sailboats sold, an increase in unit sales of 16.1 percent
over 2015 driven by a 23.4 percent increase in the ‘20 ft. or less’
category.
- Boating is predominantly “middle-class”
with 72 percent of boat owners having a household income less than
$100,000.
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.
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National Marine Manufacturers AssociationKelly Kaylor,
312-946-6262kkaylor@nmma.org