From 2013 to 2015, the inboard motorboats and cabin cruisers market in the US saw a steady increase in sales values. However, this upward trajectory faced interruptions between 2016 and 2019 with minor declines. A significant impact was noted in 2020 with an 18.23% drop, attributed to the disruptions caused by the COVID-19 pandemic. Although there was a recovery in 2021 and 2022, by 2023 the market slightly declined again to $1.5109 billion. Year-on-year variation for 2022 was 9.49%, while 2023 saw a decrease of 1.45%. The last five-year CAGR headed into 2023 was -1.47%, indicating a slight downward trend overall.
Looking ahead, forecast data from 2024 onwards predict a gradual decline reaching $1.3853 billion by 2028. This represents a forecasted five-year CAGR of -1.25% and an overall predicted growth rate decline of 6.11% over the period.
Future trends to watch for include advancements in environmentally friendly propulsion technologies, such as hybrid and electric inboard motorboats. Additionally, shifting consumer preferences towards outdoor recreational activities could influence market dynamics. Market participants should also monitor economic conditions and disposable income trends, as these will significantly impact discretionary spending on luxury items such as cabin cruisers.
