Recreational Boating in the US by Product and Region, 11th Edition

Report Overview

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Personal Watercraft: The Rec Lite Movement

For most new boat buyers, price is an important consideration. Even a small vessel is a big investment. Hoping to relieve monetary stress and appeal to new demographics, manufacturers of personal watercraft have released entry-level models known as Rec Lite in recent years, including the Sea-Doo SPARK and the WaveRunner EX series. By offering a high performing vessel at a more affordable price, personal watercraft now appeal to a larger customer base.

Key Findings in the Recreational Boating Study:

Consumer Spending and Access to Credit Spur Boat Purchases

Years of steady improvement in the US economy have offered consumers the financial flexibility to purchase a first new boat or upgrade from an older vessel. Moreover, interest rates remain relatively low, making credit more affordable, and home values and equity are increasing, giving homeowners more value on which to finance luxury purchases. Looking forward, the health of the US economy will be vital to the boating industry’s growth.

Outboards Have Fueled the Boating Industry Recovery

As the industry continues to recover, outboard powerboats have steadily taken market share from other powerboats, particularly sterndrive. Moreover, the popularity of outboards has prevented inboards from reaching pre-recession shares of demand. While outboards have always held a significant portion of the market, consumer demand has expanded in recent years. Outboard motors are favored for their low price, performance, easy maintenance, and upgradability. They also allow for more room on the boat for activities. Moreover, many boat companies now offer multiple outboard engines, enabling their use in larger boats that require greater power.

Technology Has Made Boating Easier

Boats are increasingly augmented with features like joystick controls, digital throttles, virtual anchors, and digital dashboards. These innovations have allowed experienced boaters to focus more on their recreational activity. Furthermore, they provide novices with added confidence when making a first-time boat purchase.

Study Coverage

This study presents historical data (2007, 2012, and 2017) and forecasts for 2022 by product (recreational boats, propulsion systems, boating accessories) and by region (Northeast, Midwest, South, West) in units and US dollars. Recreational boats include outboard powerboats, inboard powerboats, sterndrive powerboats, personal watercraft, sailboats, and other types of boats. The study also evaluates key industry players, market shares and analysis of consumer survey data.

This study analyzes US demand for recreational boating by product and region. In the context of this study, “recreational boating” includes all of the products mentioned below, while “recreational boats” refers only to boats and personal watercraft. Products are separated into recreational boats and propulsion systems and accessories.

The recreational boat types broken out are:

• outboard powerboats
• inboard powerboats
• sterndrive powerboats
• personal watercraft
• sailboats
• other recreational boats, such as jet boats, canoes, and all other (e.g., inflatable boats, rowboats, and kayaks)

Outboards are further segmented by boat type (pontoon boats, fish and ski boats, bass boats, center console boats, runabouts, and other).

The propulsion systems and accessories broken out are:

• OEM outboard propulsions systems
• OEM inboard and sterndrive propulsion systems
• repower propulsion systems
• boating accessories (navigational and electronic, trailers, and other)

For the purposes of this study, propulsion systems are divided into two segments: OEM and repower. OEM includes propulsions systems that are factory installed or sold with a new boat in a package. Repower includes propulsion systems sold in the aftermarket.

Demand for recreational boating products is also segmented by the following US geographic regions:

• Northeast
• Midwest
• South
• West

Historical data for 2007, 2012, and 2017 and forecasts for 2022 are provided in current dollars (which are not adjusted to account for inflation) for demand, manufacturer’s shipments, and imports and exports for aggregate recreational boating products. Demand and current dollar shipment information is also given for each product classification at the manufacturers’ level (unless otherwise specified) and, for many key product categories, demand is also provided in unit terms.

For the purposes of this study, factory-installed propulsion systems or those sold in a package with a boat are considered separately from the vessels they power, except for personal watercraft and jet boats. This is primarily because boat owners are generally given an option for propulsion systems at the time of purchase. Additionally, the study covers propulsion systems sold in the aftermarket to repower vessels.

Data provided for accessories reflects only those items that are sold separately to the consumer in the aftermarket. Factory-installed accessories or those included in a boat package are considered with the boat or propulsion system.