Michigan ranked third in recreational powerboat sales with $1.6 billion in receipts during 2023, according to a study citing the latest data available at the state level by the National Marine Manufacturers Association (NMMA) in Washington, D.C.
Michigan’s sales were down 2.9 percent from 2022, a robust year for boat purchases due largely to the COVID-19 pandemic.
Leading the pack, Florida’s powerboat sales increased in 2023, up 3.1 percent to $6.4 billion. Sales in Texas were down 1.4 percent but still landed in the second position on the list ($2.4 billion). North Carolina, Minnesota, New York, Wisconsin, Georgia, California, and Alabama rounded out the top 10.
“Recreational boat sales, often a discretionary purchase, can act as a barometer for the economy, especially since the majority of U.S. boat buyers (an estimated 61 percent) have an annual household income of $100,000 or less,” says Frank Hugelmeyer, president and CEO of the NNMA.
“Some of the key economic conditions that new recreational boat sales rely on include strong consumer confidence and spending power, affordable credit, and robust access to our waterways. With stable conditions in those areas, a healthy global supply chain, and the continued ability for marine manufacturers to bring a variety of technologies and products to market, we would expect new boat sales to remain stable in the year ahead.”
While sales levels by state for 2024 are not available yet, NMMA reports overall U.S. powerboat sales last year declined an estimated 9-12 percent to approximately 230,000-240,000 units compared to 2023.
Looking to 2025, NMMA says it 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 percent above 2024’s anticipated final tally of $55 billion.
In terms of boat sales trends, 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, according to NMMA.
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 percent 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.
Other notable findings based on the latest findings from the NMMA report:
- Boating and fishing are the leading driver of the $1.2 trillion outdoor recreation economy, which contributes 2.3 percent to the nation’s GDP.
- The recreational boating industry is an economic driver supporting more than 812,000 American jobs and more than 36,000 American businesses.
- Recreational boating is a uniquely American-made industry: 95 percent of boats sold in the U.S. are made in America.
- An estimated 85 million Americans go boating each year.
- Recreational boating isn’t just for the one percent: 61 percent of boaters have an annual household income of $100,000 or less.
- Ninety-five percent of boats on the water in the U.S. are less than 26 feet in length — boats that can be trailered by a vehicle to local waterways.
As the industry navigates its growth path, there’s a sustained focus on continued innovation, according to NMMA. From autonomous docking systems built with increasingly advanced AI that make navigating a boat easier, 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.
“As a uniquely American-made industry with 95 percent of boats sold in the U.S. having been made in the U.S., a focus on innovation by these American companies has provided a foundation for the growth of recreational boating throughout history, both in the U.S. and around the world,” Hugelmeyer says. “This year is no different as we’ve seen marine manufacturers and businesses continue to test a wide variety of technologies and boating experiences to support consumers’ passion for enjoying the water.
“Trends in consumer preferences for flexibility, on-demand experiences, and easy-to-use technology — to name a few — have helped give rise to new ways to get on the water, making boating more accessible and versatile than ever.”
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