The recreational boating industry is expected to grow significantly in 2022, as people engage in outdoor leisurely activities after nearly two years of lockdowns and social distancing norms. According to the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA), recreational boating and fishing were the highest contributors to the outdoor recreation economy, valued at $689 billion. In 2021, new powerboat sales exceeded 300,000 units. And new boat sales in 2022 are projected to rise 3% year-over-year.
Despite supply chain constraints, the boating industry is projected to gain momentum in 2022, given the pent-up demand for outdoor recreation. Thus, boating companies are expected to witness high demand this spring.
