Tide Turning for Canadian Boating Industry
Canadian recreational boating industry reports thirteen percent increase in new boats and engine sales totaling $2 billion.
The Canadian recreational boating industry began to see the tide turn for new boat and outboard engine sales with an estimated thirteen percent increase from October 2011 through September 2012 compared to the same period the previous year, according to the National Marine Manufacturers Association (NMMA) second annual 2012 Canadian Statistical Abstract. The Abstract reveals statistics on Canada’s recreational boating retail sales, participation and boater demographics, the overall retail market, imports/exports and economic factors which impact the industry.
“An increasingly stable U.S. economy combined with a modest increase in Canadian consumer confidence helped contribute to healthy growth within the Canadian recreational marine industry in 2012,” said Sara Anghel, Executive Director of NMMA Canada. “The thirteen percent increase in new boats and engines signifies the industry’s recovery from the recession and creates momentum for 2013.”
The leading boat trend in Canada is aluminum pontoon boats, experiencing a 23 percent increase in sales. Another popular trend is sport jetboats, experiencing an increase in sales during this period by 13 percent.
NMMA has recently reported that the tide is also turning for U.S. boat sales. A trend that’s likely contributing to increases in new boat sales in the U.S. is the creation of innovative, more versatile and accessible boats that appeal to a variety of interests and budgets. These versatile boats that can pull tubers or wakeboarders, can be used for fishing outings, relaxing with family or entertaining friends are growing in popularity.
Canadian manufacturers’ exports of boats and engines picked up in 2011 to $479 million, up 50 percent from the previous year, the first sign of significant growth in exports for the industry since 2009.
“Canadian marine manufacturers have begun to broaden their horizons for exporting beyond North American borders to help grow business,” notes Sara Anghel. “Australia, the European Union and the Middle East have become bigger trading partners for the Canadian recreational boating industry.”
In 2012, over one in five Canadian households owned at least one recreational boat. Boating is a fun recreational activity shared by many Canadians with over half of those who went boating in the past year having done so without owning a boat.