Boating Business

Outboard Engine Sales Dropped 7.6% in 2024

The National Marine Manufacturers’ Association (NMMA) recently released outboard engine sales figures for calendar 2024. While total outboard engine unit sales declined 7.6% year-over-year to 278,000 units in 2024, the market was supported by stable pricing, demand for higher HP engines. The total retail value of the engines sold reached $3.6 billion, which was, for comparison, about the same as Croc and HeyDude shoes. 

Data included in the 2024 annual report includes:

  • Demand for high horsepower engines remained strong in 2024. Engines at 300 horsepower and above led the market with over 40,000 new units sold, generating $1.2 billion in value—nearly 35% of the total market revenue.
  • Engines at 200 horsepower and above collectively accounted for nearly one-third of all units sold.
  • On a regional level, the South Atlantic, Great Lakes, and Gulf Coast markets once again dominated, together accounting for over 63% of total unit sales and 66% of total revenue.

Outboard engines

Outboard Prices Below Core U.S. Inflation

The average price increase for all outboard engines is skewed because of the advent of the high horsepower models from Mercury. But when we drill down into the segments below 300-hp we see price increases that would bring a smile to the face of any Fed Chairman.  

The average retail price of an outboard engine from 250-299.9-hp in 2024 was $21,510. That is $3,905 more than these engines were selling for 10 years before, in 2014 – or, 22.5% more. That seems like a lot until you realize that core U.S. inflation increased 50% for the same 10-year period, according to the U.S. Bureau of Labor Statistics.

Price increases of the last 10 years for smaller outboard engines were generally the same rate of increase or even less, in some cases. Of the five major outboard brands sold in the U.S., four are from Japan. There is a message here.

To compare the specs of 210 outboard engines, please visit BoatTEST’s Outboard Engine Buyer’s Guide.

To compare outboard engine pricing, please visit J.D. Power’s boat and engine price guide.