Trends in the American Marine Industry
Overall retail sales of new powerboats increased 24% during the 12 months ending in May 2021. Growth in boat sales was driven by the purchase of pontoons, wake sport boats, runabouts and cruisers. This growth reflects strong sales in 2021 compared to lackluster sales in the previous year due to COVID-19 lockdowns in March and April of 2020. However, supply constraints are still depressing shipment levels and, ultimately, sales dipped from April to May in 2021. While inventory remains low, it is vital that retailers continue to sustain customer interest into 2022 and 2023.1
Sailboat sales declined by 16.7% in 2020 to 4,000 units due to decreased domestic production as well as imports of sailboats. Dollar sales were correspondingly lower in 2020 compared to 2019, with a total of $237 million in 2020. The numbers of sailboat imported into and exported out of the U.S. decreased in 2020, with imports exceeding exports for the seventh consecutive year.2Marine Marketing and Boat Consulting Services
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1 Source: https://www.nmma.org
2 Source: https://www.nmma.org