Industry segments show resiliance

Key segments in the marine industry are showing resiliance with the market potentially stabilising, according to the figures from the latest NMMA’s Monthly Recreational Boating Industry Data Summary report covering the rolling period from April 2024 through March 2025.

The figures show the Personal Watercraft and Yacht segments saw gains, up 325 and 40 units respectively, over the previous March.

However, core indicators reflect continued softness in retail sales.

For the 12-month period ending March 2025, total new powerboat retail unit sales decreased 7.4% year-over-year, reaching 231,144 units. Wholesale shipments declined by 11.9% to 247,187 units.

In the first quarter of 2025, retail unit sales were down 8.4% compared to the same period in 2024, totaling 38,940 units.

The figures show a modest softening from February’s 4.8% decline, indicating the market continues to face near-term challenges.

“With our complete picture of March in hand across wholesale and retail, it’s clear the industry continued adjusting to a shifting economic climate as the question of tariffs loomed throughout the month and as we look at early data for April and into May, we’re seeing a bit of a see-saw that could play out into the summer,” said Ellen Bradley, NMMA’s senior vice president and chief brand officer.

“While sales volumes are softer compared to the post-pandemic peak, there are bright spots peeking out and the boating industry’s challenge and opportunity lies in adapting to today’s more cautious consumer while promoting the wellness, connection and adventure that boating uniquely provides.”

And she pointed out that consumer behavious continues to shift and the ability to adapt strategies is essential.

“The industry’s ability to inspire and connect with the next generation of boaters will continue define our long-term trajectory,” Ellen added.

The figures show outboard boats make up the majority of sales with stern drive boats the smallest segment.