Boat Dealers
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 3,500 boat dealers in the US sell new and used boats and related products and services. Related products and services include motors, parts, and accessories; parts and labor for maintenance or repair work; and motorized sports vehicles (ATVs, snowmobiles). Dealers may also facilitate financing, offer slip and storage facilities, provide boat brokerage services, or offer extended service contracts.
Seasonal Sales
The boating industry is highly seasonal and sales peak during the summer, when weather is conducive to water-related activity.
Dependence on Credit
Both dealers and boat buyers depend on access to credit to fund purchases.
Industry size & Structure
The average boat dealer operates out of a single location, employs fewer than 20 workers, and generates about $4-5 million annually.
- The boat dealer industry consists of about 3,500 companies that employ about 37,000 workers and generate about $15 billion annually.
- The industry is fragmented; the top 50 firms account for 31% of industry sales.
- Large companies include West Marine and MarineMax.
- The majority of the recreational boating industry involves the use of small boats (26 feet or less in size).
- Pre-owned boats accounted for almost 80% of all boat sales in 2022.
Industry Forecast
Boat Dealers Industry Growth
Recent Developments
Mar 18, 2025 - New Boat Retail Sales Fall in 2024
- New powerboat retail unit sales declined by 9.1% in 2024, influenced by fluctuating consumer confidence and economic pressures, according to the Monthly Recreational Boating Industry Data Summary from the National Marine Manufacturers Association (NMMA) in Boating Industry. The report also noted growth in single-family construction at the end of 2024, a statistic monitored by the NMMA, given the correlations to boat buying consumers. The median age of current boaters was 60 years old as of the year-end of 2024, with more boat owners in their 70s than in their 40s, per data from Info-Link Technologies. Ellen Bradley, chief brand officer for the NMMA, said the economic news, coupled with the median age milestone, reinforces the importance of industry-wide efforts to generate category awareness and excite potential boaters and watersports enthusiasts while retaining existing boaters.
- The number of new boaters who sold their boat within four years rose slightly in 2024, and anecdotal evidence shows consumer pressures are a factor in leaving the sport, according to a report in Trade Only Today. Dealers may see less traffic if there is a decline in the number of active boaters. According to data from Info-Link Technologies for Soundings Trade Only, the share of new-boat buyers who sold their boat after four years was about 24% in 2024, higher than the industry average of 20%. A combination of factors may be weighing on consumers, including high prices from inflation causing a reduction in discretionary spending, an increased feeling of anxiety, and a sense of being time-crunched that prevents people from taking their boats out. Industry experts also indicated that boat usage overall also seems to be falling. According to Matt Gruhn, president of the Marine Retailers Association of the Americas, “There appears to be a decline in boat usage. The dealers are talking about it, that throughout all the ups and downs of our industry, boat usage has largely stayed the same. They have this anecdotal evidence that the boat ramps aren’t as busy. The waterways aren’t as busy. There’s no data, but it seems like there’s some kind of a decline.”
- The US boating industry has concerns about President Trump’s tariff plan for Canada and Mexico, with both countries playing key roles in trade partnerships, according to a National Marine Manufacturers Association (NMMA) statement in Boating Industry. Canada is the largest customer of American-made boats, with 51% of US boat exports going to Canada. The NMMA also said that Mexico plays a critical role in the industry supply chain, expressed concerns about the stability of the US-Mexico-Canada Agreement (USMA), and called for a “balanced and stable approach to tariffs.” About 95% of boats sold in the US are made in the US, per the NMMA. Trump’s proposed 25% tariffs for Canada and Mexico are deferred for 30 days. Recreational boats from the US are part of Canada’s planned tariff package, in response to the proposed US tariffs. Canada announced a planned 25% tariff on $155 billion worth of goods imported from the US.
- The National Oceanic and Atmospheric Association (NOAA) has withdrawn a proposed vessel speed rule that was designed to protect an endangered whale, following a largely negative public response to the rule, according to Trade Only Today. The proposed North Atlantic Right Whale rule would have required small, recreational boats on the Eastern Seaboard to travel at 10 knots (11 miles per hour) for up to seven months of the year. The National Marine Manufacturers Association (NMMA), which opposed the rule, said the longer travel times on the ocean would put boaters at risk, given the ever-changing sea conditions. The NMMA said a better solution is the use of advanced marine technologies to detect fish, whales, and wildlife. Boat manufacturers and dealers were concerned the rule could lead to decreased demand for offshore boats in a slower market.
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