Billions
$ 500
$ 400
$ 300
$ 200
$ 312.2
$ 100
$ 0
$ 47.53
$ 160
Billions
$ 120
$ 80
$ 40
$ 293.0
$ 0
20 %
10 %
0 %
50 %
40 %
$ 324.9
$ 0
8.0 %
6.0 %
$ 230.2
12.0 %
10.0 %
20 %
10 %
0 %
40 %
30 %
50 %
$ 300.1
$ 199.1
$ 0
$ 360.0
$ 225.4
$ 350.9
1
2
3
4
5
6
7
8
9
10
$ 360.3
5.0 %
0.0 %
15.0 %
10.0 %
$ 0
1.0 % 0.5 % 0.0 %
$ 409.4
3.0 % 2.5 % 2.0 % 1.5 %
$ 268.4
3.5 %
$ 0
$ 399.2
$ 253.9
0
0
20 %
10 %
0 %
50 %
40 %
1.0 %
0.0 %
3.0 %
2.0 %
5.0 %
4.0 %
10 % 0 %
$ 0
20 % 20 % 10 %
0 %
50 % 50 % 40 %
40 %
$ 0 $ 0
20 %
10 %
0 %
50 %
40 %
$ 0 $ 0
$ 0 $ 0
0
0
0
$ 0
0
MARKET DATA BOOK COLLECTION
$ 4,000,000 $ 3,000,000 $ 2,000,000 $ 1,000,000
CONSUMERS
New Boat Inventories Used Boat Inventories
New Boat Sales
$ 8,000,000 New Boat Inventories
$ 800,000 Used Boat Inventories
$ 12,000,000 New Boat Sales
$ 7,000,000 8,000,000 $ 700,000 800,000
$ 12,000,000
$ 6,000,000 7,000,000 $ 600,000 700,000
$ 11,500,000
$ 5,000,000 6,000,000 $ 500,000 600,000
$ 11,500,000
$ 4,000,000 5,000,000 $ 400,000 500,000
$ 11,000,000
$ 3,000,000 4,000,000 $ 300,000 400,000
$ 11,000,000
$ 2,000,000 3,000,000 $ 200,000 300,000
$ 10,500,000
$ 2,000,000 1,000,000 $ 200,000 100,000
$ 10,500,000
$ 1,000,000
$ 100,000 $ 10,000,000 $ 10,000,000
Used Boat Sales Parts & Accessories Sales
Service Sales
$ 1,700,000 Used Boat Sales
$ 1,400,000 Parts & Accessories Sales
$ 1,400,000 Service Sales
New Boat Inventories Used Boat Inventories
New Boat Sales
$ 1,700,000 $ 1,400,000
$ 1,400,000 $ 8,000,000
$ 800,000 New Boat Inventories
$ 12,000,000 Used Boat Inventories
$ 7,000,000 $ 1,600,000
$ 700,000 $ 8,000,000
$ 1,300,000 $ 1,300,000 $ 800,000
$ 6,000,000 $ 1,600,000
$ 600,000 $ 7,000,000 $ 1,300,000
$ 11,500,000 $ 1,300,000 $ 700,000
$ 5,000,000 $ 500,000 $ 6,000,000
$ 600,000
$ 4,000,000 $ 1,500,000
$ 1,200,000 $ 400,000
$ 11,000,000 $ 1,200,000
$ 5,000,000 $ 500,000
$ 3,000,000 $ 1,500,000 $ 300,000 $ 1,200,000
$ 1,200,000 $ 4,000,000
$ 400,000
$ 2,000,000 $ 200,000
$ 10,500,000 $ 1,400,000
$ 3,000,000 $ 1,100,000 $ 1,100,000 300,000
$ 1,000,000 $ 100,000 $ 2,000,000
$ 1,400,000
$ 1,100,000 $ 200,000 1,100,000
$ 1,000,000
$ 10,000,000 $ 100,000
Personnel Expense Ratio Advertising Expense Ratio Floorplan Interest Expense Ratio Used Boat Sales
Parts & Accessories Sales Service Sales
Personnel Expense Ratio 3.5 % Advertising Expense Ratio 5.0 %
Floorplan Interest Expense Ratio
$ 1,700,000 $ 1,400,000
Used Boat Sales $ 1,400,000
Parts & Accessories Sales New Boat Inventories
Used Boat Inventories New Boat Sales
3.0 3.5 %
5.0 % 4.0 %
$ 1,700,000 2.5 $ 1,400,000 $ 800,000
$ 12,000,000 3.0 %
4.0 % 30 %
3.0 % $ 700,000
$ 1,600,000 $ 1,300,0002.0 2.5 %
$ 1,300,000
$ 600,000 $ 11,500,000 30 %
3.0 % $ 1,600,000 2.0 1.5 %
$ 1,300,000 2.0 %
$ 500,000 1.0 1.5 %
$ 1,500,000 $ 1,200,000
2.0 % $ 1,200,000
$ 400,000 $ 11,000,000
1.0 % 0.5 1.0 %
$ 300,000 $ 1,500,000
$ 1,200,000 1.0 %
0.0 0.5 % 0.0 %
$ 200,000
$ 10,500,000 $ 1,400,000
$ 1,100,000 $ 1,100,000
0.0 % 0.0 %
$ 100,000 $ 1,400,000
$ 1,100,000 $ 10,000,000
Semi-Fixed Expense Ratio Fixed Expense Ratio Net Profit / Loss
12.0 % Personnel Semi-Fixed Expense Expense Ratio Ratio 15.0 %
Advertising Fixed Expense Ratio 3,000,000 Floorplan Net Interest Profit Expense / Loss Ratio
Used Boat Sales Parts & Accessories Sales
Service Sales
12.0 % 3.5 % 15.0 %
Personnel Expense Ratio 5.0 3,000,000 %
Advertising Expense Ratio
$ 1,400,000 $ 1,400,000
3.0 % 10.0 %
10.0 % 4.0 2,000,000 %
3.5 %
2.5 % 10.0 %
10.0 %
2,000,000 3.0 %
30 % 3.0 %
$ 1,300,000 $ 1,300,000
2.0 % 2.5 %
8.0 %
5.0 1,000,000 1.5 % 30 %
2.0 % 2.0 %
8.0 % 5.0 %
1,000,000 1.0 %
1.5 % $ 1,200,000
$ 1,200,000 1.0 %
6.0 % 0.5 % 0.0 %
1.0 %
6.0 % 0.0 % 0.0 %
0.0 % 0.5 %
$ 1,100,000 $ 1,100,000
0.0 %
Semi-Fixed Expense Ratio Fixed Expense Ratio Net Profit / Loss
Personnel Expense Ratio Advertising Expense Ratio 12.0 % Floorplan Interest Expense Ratio
15.0 % Semi-Fixed Expense Ratio 3,000,000
Fixed Expense Ratio
3.5 % 5.0 %
12.0 % 15.0 %
3,000,
3.0 % 4.0 10.0 %
10.0 % 2,000,000
2.5 % 10.0 %
10.0 % 2,000,00
3.0 % 2.0 %
8.0 % 5.0 %
1,000,000 1.5 %
2.0 % 8.0 %
5.0 % 1,000,000
1.0 % 1.0 %
0.5 % 6.0 %
0.0 %
0.0 % 0.0 %
6.0 % 0.0 %
Semi-Fixed Expense Ratio Fixed Expense Ratio Net Profit / Loss 15.0 %
3,000,000
10.0 % 2,000,000
5.0 % 1,000,000
0.0 %
$ 1,400,000
$ 1,700,000
$ 1,600,000
$ 1,500,000
$ 8,000,000 $ 7,000,000 $ 6,000,000 $ 5,000,000
10.2 %
39.3 %
PHOTO CREDIT: MIAMI INTERNATIONAL BOAT SHOW
BOAT SALES FACE NORMALIZATION, HEADWINDS IN 2023
After a sharper decline in 2022, boat sales continued to normalize at a slower rate through 2023. The National Marine Manufacturers Association( NMMA) reported that new unit sales totaled roughly just short of 262,000 in 2023, down about 1.6 % from 266,000 the previous year.
Also down in 2023, after a 13-year growth trend, was total marine expenditures. Overall marine expenditures reached $ 57.7 billion in 2023, dropping just over 2.5 % when compared to 2022.
During the Industry Breakfast at the 2024 International BoatBuilders’ Exhibition and Conference( IBEX), NMMA president and CEO, Frank Hugelmeyer, gave an update on the state of the industry to more than 900 stakeholders in attendance. Hugelmeyer discussed current economic headwinds and sales trends, emphasized how Discover Boating continues to play an important role in reaching new audiences, and highlighted notable policy priorities on the state and federal level.
“ While there are significant changes happening, there are also great opportunities, and the recreational boating industry is poised to take advantage of them,” Hugelmeyer said during his address.
8.0 %
6.0 %
12.0 %
10.0 %
$ 1,700,000
$ 1,600,000
$ 1,500,000
$ 1,400,000
30 %
$ 1,000,000
$ 8,000,000 $ 7,000,000 $ 6,000,000 $ 5,000,000 $ 4,000,000 $ 3,000,000 $ 2,000,000
10.2 %
39.3 %
$ 1,519,627
$ 7,641,499
8 market data book 2024
New Boat Inventories Used Boat Inventories
New Boat Sales
$ 800,000
$ 12,000,000
$ 700,000 $ 600,000
$ 11,500,000
$ 500,000 $ 400,000
$ 11,000,000
$ 300,000 $ 200,000
$ 10,500,000
$ 100,000 $ 10,000,000
Used Boat Sales Parts & Accessories Sales
Service Sales
$ 1,400,000 $ 1,400,000
$ 1,300,000 $ 1,300,000
$ 1,200,000 $ 1,200,000
$ 1,100,000
$ 1,100,000
Personnel Expense Ratio Advertising Expense Ratio Floorplan Interest Expense Ratio
$ 1,519,627
$ 7,641,499
42.4 %
$ 1,627,612
$ 6,400,973
TOP 10 STATES
3.2 %
PHOTO CREDIT: MANITOU PONTOON BOATS
$ 1,338,930
Semi-Fixed Expense Ratio Fixed Expense Ratio Net Profit / Loss 3,000,000
11.0 %
42.4 %
$ 1,627,612
MARKET DATA BOOK 2024 | $ 169.95
$ 6,400,973
11.0 %
$ 1,338,930
THE DEFINITIVE GUIDE TO
Boat spending across the top ten states accounted for 54.3 % of all sales for new boats, engines, trailers and accessories throughout 2023, according to data from the NMMA.
Florida once again led the nation in recreational sales, spending just under $ 6.5 million in 2023, up 3.1 % from 2022 numbers. In a continuation similar to past years, Texas($ 2.4 million) and Michigan($ 1.6 million) rounded out the top three states, respectively, in 2023. The rest of the top 10 states remained unchanged in rankings for 2023 versus 2022, with the exception of Georgia and California narrowly swapping positions.
12.1 %
$ 587,514
MARINE BUSINESS STATISTICS
3.2 %
FLORIDA $ 6.48 billion + 3.1 % from 2022 TEXAS $ 2.47 billion-1.4 % from 2022 MICHIGAN $ 1.59 billion-2.9 % from 2022 NORTH CAROLINA $ 1.38 billion + 1.1 % from 2022 MINNESOTA $ 1.21 billion-3.5 % from 2022 NEW YORK $ 1.19 billion-1.7 % from 2022
MORE STATS AND ANALYSIS RETAIL SALES
WISCONSIN $ 1.07 billion-1.8 % from 2022
12.1 %
GEORGIA $ 1.04 billion + 1.2 % from 2022
$ 587,514
CALIFORNIA $ 1.02 billion-3.9 % from 2022
DEALER SURVEY RESULTS BROKERAGE SALES CONSUMER INSIGHTS AND MORE!
$ 1,151,830
3.4 %
ALABAMA $ 991 million + 2.8 % from 2022
$ 709,574
Source: NMMA U. S. Recreational Boating Statistical Abstract
www. boatingindustry. com
$ 1,151,830
3.4 %
$ 709,574
14.1 % 2,818,129
2,000,000
1,000,000
14.1 % 2,818,129
10.2 % 3.5 %
3.5 %
$ 7,641,499
$ 1,278,539
$ 1,519,627
39.310.2 % % 10.2 %
$ 1,278,539
$ 11,461,890
39.3 % 39.3 %
$ 11,461,890
5.0 11.0 % 1,584,707
$ 1,519,627 $ 1,519,627
$ 7,641,499 $ 7,641,499
INTELLIGENCE YOU CAN PROFIT FROM
5.0 %
$ 1,627,612 $ 6,400,973
$ 1,627,612
$ 10,754,734
42.4 % $ 1,627,612
42.411.0 % %
42.4 % $ 1,311,162
$ 10,754,734
$ 1,311,162
11.0 %
$ 6,400,973 $ 6,400,973
3.212.1 % % 12.1 %
$ 1,338,930 3.2 %
$ 1,338,930 $ 7,641,499 $ 587,514
$ 1,151,830
www. boatingindustry. com market data book 2024 23
1,584,707
12.1 %
10.2 %
39.3 %
3.2 %
$ 1,519,627
$ 1,338,930
$ 587,514 $ 587,514
Source: NCM Associates( formerly Spader Business Management)
$ 709,574
SERVICE SALES ADVERTISING EXPENSE RATIO
PERSONNEL EXPENSE RATIO FIXED EXPENSE RATIO
FLOORPLAN INTEREST EXPENSE RATIO SEMI-FIXED EXPENSE RATIO
KEY FOR ALL CHARTS ON PAGE 23 YTD 2024 YTD 2023
$ 6,400,973
$ 1,151,830 $ 1,151,830
3.4 % 3.4 %
$ 1,627,612
$ 709,574 $ 709,574
14.1 % 2,818,129
3.4 % 14.1 % 2,818,129
42.4 %
3.5 % 3.2 %
14.1 % 2,818,129 11.0 %
12.1 %
$ 1,278,539 $ 11,461,890 $ 1,278,539
$ 587,514
3.5 % 3.5 % $ 1,278,539 $ 1,338,930
1,584,707
$ 11,461,890 $ 11,461,890
5.0 %
$ 10,754,734
$ 1,311,162
1,584,707 1,584,707
14.1 %
5.0 % 5.0 %
$ 1,151,830
3.4 %
$ 10,754,734 $ 10,754,734
$ 1,311,162 1,311,162 $ 709,574
The new edition of the Boating Industry Market Data Book is your essential guide to getting ahead of the competition in this rapidly changing market.
DEALERS
OVERALL DEALERSHIP SATISFACTION DEALERS THAT WERE PROFITABLE BY YEAR
8.0 7.7
94 %
7.5 7.1
7.0 95 %
6.5 92 %
91 %
6.0 90 %
5.5
5.0 85 %
4.5
4.0 80 %
2023 Satisfaction * 2024 Satisfaction * Profitable in 2023 Profitable in 2022
GROSS PROFIT MARGIN BY YEAR
35 % 33 %
30 %
30 %
25 %
20 % 18 %
16 % 16 % 16 % 15 %
15 % 15 %
12 %
10 % 9 %
10 %
8 %
5 %
0 % 1-3 % 4-7 % 8-10 % 11-15 % 16-20 % More than 20 %
KEY 2023 2022
1 %
9 %
14 %
-4 %
OVERALL DEALER REVENUE BY YEAR
-1 %
-18 %
32 %
15 %
10 %
5 %
0 %
-5%
-10%
-15%
-20%
15 %
10 %
5 %
$ 6,000,000
$ 5,500,000
$ 5,000,000
$ 4,500,000
$ 4,000,000
$ 12,000,000
$ 11,000,000
$ 10,000,000
$ 9,000,000
$ 8,000,000
$ 4,000,000
$ 3,000,000
DEALER TRENDS: AUGUST 2024 VS AUGUST 2023 NEW POWERSPORT INVENTORIES USED POWERSPORT INVENTORIES
$ 5,456,183
$ 5,115,634
NEW POWERSPORT SALES USED POWERSPORT SALES
$ 10,800,945
$ 9,782,412
KEY 2024 YTD 2023 YTD
KEY 2024 YTD 2023 YTD
$ 1,500,000
$ 1,400,000
$ 1,300,000
$ 1,200,000
$ 1,000,000
PARTS & ACCESSORIES SALES SERVICE SALES
KEY 2024 YTD 2023 YTD
$ 1,000,000
$ 1,000,000
$ 750,000
$ 500,000
$ 250,000
$ 0
$ 554,626
$ 481,670
Used Powersport Inventories
$ 1,431,245
$ 1,377,326
KEY 2024 YTD 2023 YTD
KEY 2024 YTD 2023 YTD
• Consumer Trends: Dive into the minds of today’ s boat buyers with data from our newly expanded consumer & dealer surveys.
• Market Dynamics: Get a clear picture of sales trends, buyer demographics, market share, and export data.
• Dealer Data: Know what’ s happening in the dealer space with segment sales, expenses, inventory levels, and more.
35 %
30 %
25 %
KEY 2023 2022
7 %
12 %
21 % 21 %
20 % 18 % 18 %
17 % 18 %
15 % 15 %
13 % 11 %
10 % 9 %
6 %
5 %
0 % Less than $ 1 million $ 1- $ 2 million $ 2- $ 5 million $ 5- $ 10 million $ 10- $ 15 million More than $ 15 million
1 % 1 %
* Weighted Average on a Scale of 1-10
Source: Powersports Business Annual Dealer Survey
8 | Powersports Business | Market Data Book 2024 www. powersportsbusiness. com
-4 %
-17 %
0 %
-5%
-10%
-15%
-20%
$ 2,000,000
$ 1,000,000
$ 0
$ 1,932,084 $ 1,797,940
$ 900,000
$ 800,000
$ 700,000
$ 600,000
$ 917,820 $ 902,842
KEY 2024 YTD 2023 YTD
Source:( formerly Spader Business Management)
www. powersportsbusiness. com Market Data Book 2024 | Powersports Business | 19
GET A 360 DEGREE VIEW OF THE POWERSPORTS INDUSTRY
DEALERS CONSUMERS TRENDS
The Powersports Business Annual Market Data Book compiles critical powersports information from the most respected data sources in the industry. This guide equips you with the knowledge to make informed decisions and gain a competitive edge, with data such as:
$ 204.4 $ 203.0
Company annual fi nancial documents / reporting
RETAILER STOCK PRICES OVER SEASONS
Home Depot Lowes Tractor Supply Co. Walmart
$ 49.48 $ 53.29 $ 53.23 $ 55.41
$ 45.75 $ 45.54 $ 44.24 $ 39.91 $ 46.26
RETAILER REVENUE
$ 234.7 $ 238.2
$ 61.76 $ 71.19
$ 85.07 $ 91.15
$ 54.67 $ 53.39 $ 56.01 $ 53.36
* All stock prices are based off closing prices
23 ' Winter 23 ' Spring 23 ' Summer 23 ' Fall 24 ' Winter 24 ' Spring 24 ' Summer 24 ' Fall 25 ' Winter
$ 157.4
$ 159.5 $ 152.6
$ 9.2 $ 9.1 $ 9.5
$ 97.1 $ 86.4
$ 83.7
Total Revenue( 2022) Total Revenue( 2023) Total Revenue( 2024)
$ 13.0 $ 13.4 $ 14.2 $ 14.6 $ 13.0 $ 14.9 $ 5.5 $ 4.8
$ 4.6
Ace Hardware Home Depot Lowes Menards Tractor Supply Co. Do It Best
MARKET DATA BOOK 2025 | www. ope-plus. com
BRAND HEALTH Continued from page 5
THE DEFINITIVE GUIDE TO OPE ket, and it forecasts annual sales of $ 6.4 billion USD, a 2 % increase in sales over 2024.
Toro expects 2025 total sales to remain flat or rise slightly.
Stanley Black & Decker said it is“ preparing for a dynamic backdrop in 2025 and expects to respond with supply chain and price actions designed to mitigate the impact from such tariffs to maintain our margin objectives.”
The Home Depot expects total sales growth of approximately 2.8 %, mostly through new store development, with comparable store sales growth of approximately 1 %.
Lowe’ s anticipates full-year 2025 comparable sales to be flat to up 1 %.
Tractor Supply expects 2025 net sales to increase by 5 % to 7 %, with comparable store growth between 1 % and 3 %.
AND LANDSCAPE STATISTICS
BRANDS & THE ECONOMY PROFESSIONAL USERS WEATHER IMPACT CONSUMERS DEALERS
Sources include: the Federal Reserve Bank, Deloitte United States, U. S. Census Bureau, The Conference Board, Bureau of Labor Statistics
Market Data Book 2025 OPE + www. OPE-Plus. com 7
0 %
20 %
40 %
60 %
22 OPE + Market Data Book 2025
PRO USERS
POWERING EQUIPMENT DEALER AND LANDSCAPE BUSINESS SUCCESS
25.0 %
It will significantly transform the industry
It will moderately impact the industry
47.7 %
13.6 %
It will have little impact on the industry
2.3 %
It will not impact the industry at all
Neutral 34.1 %
WHAT IS YOUR OUTLOOK FOR YOUR BUSINESS OR PROFESSION OVER THE NEXT 12 MONTHS?
11.4 %
Not sure
Negative 4.5 %
WHAT ARE YOUR THOUGHTS ON THE ROLE OF TECHNOLOGY IN YOUR INDUSTRY OVER THE NEXT 5 YEARS?
Very Positive 18.2 %
Positive 43.2 %
Source: OPE + Pro User Survey
www. OPE-Plus. com
• Newly added consumer insights on current topics
• Analysis of the industry: Dealers, unit sales, outstanding segments, and more
• Proprietary PSB research from our dealer surveys, including dealership revenue breakdowns, dealership employee benefits and dealership workforce
• See what’ s trending: Top searched new & pre-owned cruisers, touring & side-by-sides
• 2024 first-half sales by power segment
• 2023 vs. 2022 sales by segment
• 2023 U. S. new and pre-owned side-by-side and motorcycle registration data
• Wholesale price averages for ATV, side-by-side, scooter and motorcycle
LEARN MORE
The inaugural OPE + Business Market Data Book delivers a collection of information not found in any other industry resource. The 2025 OPE + Market Data Book includes:
• Explore the factors influencing buyer choices, such as brand loyalty and purchasing behavior.
• Access key metrics on dealer performance, including sales, revenue trends, and sentiment, to gain insights into dealer dynamics.
• Stay ahead in the OPE industry by analyzing technological advancements, market challenges, and more.
WANT TO GAIN EXTRA INSIGHT INTO POWERSPORTS CONSUMER PURCHASING HABITS?
Look no further than the Powersports Consumer Report.
• 7 User Profiles
• Buying Habits and Intentions
• Marketing Recommendations
LEARN MORE