Recreational Boat Sales Increase 5.3% Annually Through 2022

Demand will be driven by outboard powerboats

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Apr 10, 2018, 09:21 ET

CLEVELAND, April 10, 2018 /PRNewswire/ -- Demand for recreational boats is forecast to grow 5.3% per year to nearly $11 billion in 2022. Demand will be supported by a healthy economy, which improves the following:

personal consumption expenditures, particularly for durable goods and recreation
disposable income and discretionary spending
access to credit, via loans and the use of home equity

Demand will be driven by outboard powerboats, which are expected to continue to expand their dominant position over inboard and sterndrive powerboats. Outboard powerboats are forecast to grow at an above average pace through 2022 because of the attributes and benefits of their propulsion systems. These and other trends are presented in Recreational Boating in the US, 11th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/recreational-boating-in-the-us-by-product-and-region-11th-edition-3610.htm

Shipments of recreational boats from US manufacturers are projected to grow 5.2% per year through 2022, reaching $10.6 billion. From 2012 to 2017, the US moved from a trade surplus to a trade deficit and this trend is expected to continue. Exports as a percentage of shipments have decreased substantially since 2012, as rising US demand now captures more of the production from US manufacturers.

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transport studies can be purchased at https://www.freedoniagroup.com/, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected]

SOURCE The Freedonia Group