The National Marine Manufacturers Association (NMMA) shared the latest industry data, and the 2023 outlook shows that coming off a record year of high demand in 2021, new powerboat retail unit sales normalized in 2022, down an estimated 15-18%, to pre-pandemic growth years (2015-2019) with an estimated 250,000 new units sold, 25% above previous averages (2008-2014), according to a recent NMMA press release. Looking ahead to 2023, early indications point to continued healthy demand with new retail unit sales expected to remain on par with 2022.
This momentum comes as marine manufacturers continue strategically managing production and inventory pipelines following two years of supply chain bottlenecks. Segments driving growth in 2022 included entry-level boats such as personal watercraft, freshwater aluminum and fiberglass fishing boats, as well as pontoon boats that are less than 26 feet.
New data from the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA), released in November 2022, shows the outdoor recreation economy has seen record-breaking years, sustaining remarkable growth despite navigating a post-pandemic environment. In 2021, outdoor recreation generated $862 billion in economic output, accounting for 1.9% of U.S. GDP, making it a larger contributor than agriculture, extraction of oil and gas, and mining. Outdoor recreation also supported 4.5 million American jobs, and recreational boating and fishing are the number one contributor to the almost billion dollar outdoor recreation economy, surpassing RVing, hunting and other outdoor activities.
Read the full press release here.