For the second consecutive year, retail sales for new boats anticipate surpassing 300,000 units for the close of 2021, according to newly released data from the NMMA. Retail sales for 2021 are estimated to be 7% above the five-year sales average but 4-6% below the record-high year of 2020.
With supply chain disruptions during the pandemic affecting manufacturers worldwide, a rippling effect put constraints on growth last year amid heightened demand for new boats. So, where does that leave new boat sales for 2022?
Thankfully, manufacturing productivity is revving back up to meet consumer demand for new boats. Boatbuilding production is nearing pre-pandemic levels as supply chain constraints begin to ease up. The 2022 boating market forecast is sunny and bright, with sales forecasted to surpass 2021 totals by as much as 3%.
“We expect strong momentum for boating and new boat sales to endure through 2022 as Americans from all walks of life explore the great outdoors and turn to the unique joys of being on the water,” said Frank Hugelmeyer, NMMA president.
How is the boat market? Consumer interest and demand for boating continue to reach record-highs as more people turn to recreational boating as an accessible outdoor activity, especially as other leisure activities, sports, and travel continue to see the negative impacts of COVID.
According to the U.S. Department of Commerce’s Bureau of Economic Analysis, recreational boating and fishing are the number one contributor to the $689 billion outdoor recreation economy. Both surpass RVing, hiking, and many other outdoor recreational activities.
“The pandemic created shifts in how Americans prioritize their time, and boating is an activity they’re doing with family and friends to escape from stresses on land, all while creating fun and adventure. As a result, U.S. marine manufacturing, which provides an estimated 691,000 jobs across the country, is standing out as an example of economic resilience,” added Hugelmeyer.
Just two weeks into 2022 and U.S. boat manufacturers and dealers are already preparing for the winter boat show season. Many events kick off this month including the St.Pete Boat Show, Naples Boat Show, Houston Boat Show, and many more. These events are imperative to the industry, readily generating between 30-50 percent of annual sales.
For over 50 years, the Galati family, along with the 200+ employees that make up Team Galati, continue to dedicate nothing but pure passion and drive to make what we do meaningful while delivering the best service possible to our customers. Our mission is not only to provide you the very best boating experience — whether purchasing or selling — we strive to create the possibility of new adventures and cherished memories with family and friends. View new yacht brands we represent and learn more about our yacht brokerage locations.