The National Marine Manufacturer’s Association (NMMA) has released its Monthly Recreational Boating Industry Data Summary report, offering a comprehensive analysis of recreational boating powerboat unit sales and key economic indicators through December 2024.

While these monthly reports from the NMMA cover a rolling 12-month period, the December Edition offers a full look at the calendar year 2024, confirming estimates for retail and wholesale sales declines. Key findings include:

  • Declining Retail Sales: From January to December 2024, new powerboat retail unit sales fell by 9.1 percent, totaling 231,576 units—a significant year-over-year decline influenced by economic pressures and fluctuating consumer confidence.
  • Growth in Single-Family Construction: Despite elevated mortgage rates and tight lending standards for construction and development loans, new single-family construction ended 2024 on a strong note. As the new year progresses, the construction industry is seeing an easing in the regulatory environment and tax cuts as tailwinds and tariffs, and higher deficits dampen momentum. NMMA monitors single-family housing starts, giving correlations to boat-buying consumers.
  • Softening Economic Indicators: While demand remained in key areas, broader economic indicators affecting the boating industry remained in the “caution” category, signifying concerns over market stability and continued uncertainty.

NMMA noted in the report that economic volatility has had a noticeable impact on consumer sentiment from the close of 2024 to the first quarter 2025, highlighting that the Conference Board’s Consumer Confidence Index declined by 7.0 points in February to 98.3, marking the largest monthly decline since August 2021. This was the third consecutive monthly decline, bringing the Index to the bottom of the range that has prevailed since 2022.

As the recreational boating industry manages lower retail sales, Info-Link Technologies, Inc. recently reported that as of year-end 2024, the median age of current boat owners in the U.S. is 60 years old, with more boat owners in their 70s than in their 40s. Info-Link’s Jack Ellis noted, “Many of the people who owned boats 25 years ago are the same people who own boats today, but they’re 25 years older.”

“The latest economic news, coupled with the median age milestone, reinforce the importance of industry-wide efforts to generate category awareness and excite potential boaters and watersports enthusiasts while retaining existing boaters through Discover Boating and related efforts from Take Me Fishing, especially in down cycles as this is key to maintaining our momentum and sustaining long-term growth,” noted Ellen Bradley, chief brand officer at the NMMA.

Image courtesy Freedom Boat Club