The inboard-outdrive boat sales in the US stood at 1.0648 Billion USD in 2023. The market experienced fluctuations over the past decade, with significant decreases in certain years, notably in 2016 and 2020. Sales reached a peak in 2015 before a dramatic decline in 2020. The market partially recovered in 2021 but has seen a slight downward trend since then.
Year-on-year variations highlight the market's instability, with substantial drops in 2016, 2018, 2019, and 2020. However, a notable recovery occurred in 2021, followed by minor increases and decreases in subsequent years. The five-year compound annual growth rate (CAGR) indicates an average annual decline of 2.05% leading up to 2023.
Looking ahead, the market is forecasted to decline slightly, with a five-year CAGR of -1.83% from 2024 to 2028, translating to an overall decrease of 8.84% over this period.
Future trends to watch for include:
- Technological advancements in boat manufacturing and propulsion systems
- Shifts in consumer preferences towards more eco-friendly and sustainable boating options
- Economic factors and their impact on recreational spending
- Emerging markets and their influence on global boat sales dynamics
