Outboard motorboat sales in the US have shown fluctuating but generally upward trends from 2013 to 2023. The market's value stood at $5.1536 billion in 2023. Year-on-year variations reflect both robust growth years such as 2015 (16.43%) and 2022 (14%), and downturns like in 2020 (-14.63%). The five-year CAGR preceding 2024 averaged at 2.74%, indicating moderate growth.
Looking ahead, the forecast for 2024 and beyond suggests a steady increase in market value, with a 5-year CAGR of 1.91% from 2024 to 2028, culminating in a market size of $5.7772 billion by 2028. This represents a forecasted growth rate of 9.92% over the next five years.
Future trends to watch include advancements in eco-friendly propulsion technologies, a potential rise in recreational activities post-COVID-19, and economic conditions that can impact consumer spending power. Monitoring these factors will be crucial for understanding market dynamics and positioning within the industry.
