Marinas NAICS 713930

Jul 3, 2025 - New Boat Registrations Drop

• New-boat registrations were down in March 2025, though the curve has leveled somewhat, according to a report in Trade Only Today. Registrations for all seven segments totaled 231,704 in March on a rolling, 12-month basis. The 15-foot-and-over US powerboat market fell by 8.1% in March year over year, falling for the second consecutive month. Major declines also came in the pontoon (down 12.8% in March year over year) and saltwater fishboat (down 6% in March) categories. Segments posting growth year over year in registration included the cruiser/yacht category (up 11.4%) and freshwater fishing boat (up 2.2%). States with the highest new-boat registrations in March on a short-term basis included California, Arizona, Tennessee, and Louisiana. Data for the new-boat registrations was provided by Florida-based data provider Info-Link.
• Consumer sentiment, an indicator of discretionary spending, was mixed in June 2025, according to two major indicators. The final index of consumer sentiment from the University of Michigan grew 15.9% in June 2025 from the previous month, as the Trump administration put some tariffs on hold against major US trade partners, according to CFO Dive. Year over year, the index of consumer sentiment was down 11.3%. An index measuring consumers’ expectations for the future was up 21.9% from the previous month, but was down 16.1% year over year. According to survey director Joanne Hsu, “Consumers appear to have settled somewhat from the shock of the extremely high tariffs announced in April and the policy volatility seen in the weeks that followed.” Hsu noted that consumers’ views of business conditions, personal finances, buying conditions for big ticket items, labor markets and stock markets all remain below six months ago. However, the Consumer Confidence Index fell by 12.3 points in June 2025, compared to the previous month. The index dropped in June following a gain in May, according to The Conference Board, which publishes the monthly index.

• The US marinas industry is projected to grow at a CAGR of 4.53% between 2025 and 2029, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. The expected growth rate is faster than the overall economy‘s anticipated growth. Spending by US households and tourists, foreign students, and other visitors largely drives the arts, entertainment, and recreation industries. Consumer confidence is expected to improve in the forecast period, which bodes well for the sector. A factor that may curb consumer spending is substantially higher tariffs on consumer goods, which may be painful for households. On a positive note, lower inflation supports a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026. Real income could suffer if average prices rise due to tariff implementation.
• According to a recent Boston Globe report, a tariff war and political tensions could negatively affect marinas that often see many Canadian tourists. Businesses on Lake Champlain in Burlington, Vermont, including marinas, expressed concerns that Canadians will bypass their normal summer visits to the US during Vermont’s brief but busy boating season. The report states that Canadians represent about 5% of Vermont’s visitors, with up to 30% in northern regions, representing a key part of the state’s $4 billion tourism economy. The Canadian government reports that the number of road trips to the US in March 2025 dropped by 32% compared to a year ago, marking the third consecutive month of year-over-year declines. Many business owners said the region started seeing tourism recover following the pandemic when non-essential border travel was restricted. One Lake Champlain marina owner said that at summer’s peak, most of the marina’s 52 moorings are typically occupied by Canadian vessels. He said he has already seen a significant drop in Canadian requests for the summer.