Marina management is an important aspect of the boating and leisure industry. It is a complex task that involves many different areas of expertise, including maintenance, customer service, marketing, and financial management.
In this blog post, we will explore marina management statistics to provide insights into the industry and help marina operators make informed decisions. We will cover a range of topics, including marina revenue, customer demographics, service trends, and environmental initiatives.
Key Marina Management Statistics 2023 – MY Choice
- The global marina market was valued at $28.3 billion in 2018 and is projected to reach $42.9 billion by 2025.
- The number of marinas in the United States is approximately 12,000.
- The marina industry employs over 450,000 people worldwide.
- In 2019, the average slip rental rate in the United States was $13.50 per foot per month.
- The number of registered boats in the United States reached 12.4 million in 2020.
- The average age of a boat owner in the United States is 56 years old.
- The number of boats sold in the United States in 2020 was 310,000.
- The global yacht charter market is expected to reach $18.6 billion by 2027.
- In 2020, the average length of boats sold in the United States was 30 feet.
- The top marina ownership companies in the United States are Safe Harbor Marinas, Westrec Marinas, and Suntex Marinas.
Marina Industry Overview
- The marina industry was valued at $8.5 billion in 2020, with a projected growth rate of 5.5% over the next five years.
- In the US, there are over 12,000 marinas and boatyards, generating an estimated $3 billion in annual revenue.
- The marina industry provides employment for over 200,000 people in the US.
- Over 30 million Americans participate in recreational boating activities each year.
- The average boat owner spends $4,000 annually on maintenance and upkeep.
Marina Revenue and Financial Management
- Marina revenue is primarily derived from slip and dry storage rentals, fuel sales, and maintenance and repair services.
- In 2020, the average annual revenue for a marina was $1.2 million.
- The average slip rental fee in the US is $10-$15 per foot per month.
- The average dry storage rental fee in the US is $150-$200 per month.
- Marina revenue is highly seasonal, with peak demand during the summer months.
- The most successful marinas have a diversified revenue stream, including non-boating related activities such as restaurants, events, and retail.
- The average marina operating expense is 50% of total revenue.
- The average profit margin for a marina is 10-15%.
- In the US, the top 10% of marinas generate 50% of total industry revenue.
- Successful marinas have a well-planned budget and monitor expenses closely.
Customer Demographics and Trends
- The average age of a boat owner is 54 years old.
- The majority of boat owners are male (80%).
- The most popular boat types are outboard boats, followed by stern-drive boats and inboard boats.
- The most common boating activities are fishing, cruising, and watersports.
- In recent years, there has been a trend towards smaller boats, with a focus on affordability and ease of use.
- The millennial generation is an emerging market for the marina industry, with a preference for rental and shared ownership models.
- The majority of marina customers live within 50 miles of the marina.
- The most important factors for boaters when selecting a marina are location, price, and amenities.
- Marina operators who prioritize customer service and satisfaction have higher customer retention rates.
- In addition to slip rentals, marinas offer a range of services to their customers, including fuel sales, maintenance and repair, and boating education.
- Fuel sales are a significant revenue stream for marinas, with an average profit margin of 8-12%.
- The most common maintenance and repair services offered by marinas are engine repair, bottom painting, and electrical repair.
- The average hourly rate for marine service technicians is $90-$110.
- Many marinas offer educational programs and events to promote safe boating and environmental awareness.
- In recent years, there has been a trend towards the use of digital tools and platforms to streamline marina operations and enhance customer experience.
Table 1: Global Marina Management Market Statistics
|Market Value of Marine and Coastal Resources and Industries||$3 trillion per year|
|Percentage of Global GDP||5%|
|Percentage of Earth’s water contained in oceans||97%|
|Percentage of living space on Earth in oceans||99% by volume|
|Percentage of carbon dioxide produced by humans absorbed by oceans||30%|
Table 2: Marinas Industry Statistics in the US
|Annual US sales of boats, marine products and services||$42 billion in 2019|
|Retail unit sales of new powerboats in 2019||Approximately 280,000|
|Percentage of international trade in goods carried by sea||Majority|
|Percentage of marine and coastal pollution originating on land||80%|
|Median annual salary for motorboat mechanics and service technicians in the US||$43,320 in May 2020|
|25th percentile of hourly earnings for motorboat mechanics and service technicians in North Carolina||$15.18|
|10th percentile of hourly earnings for motorboat mechanics and service technicians in North Carolina||$12.87|
|Annualized business growth rate of Marinas industry in the US (2017-2023)||-0.5%|
|Business growth rate of Marinas industry in the US in 2023||0.7%|
|Number of Marinas businesses in the US (as of 2023)||10,075|
|Largest man-made lake in North America (percentage of Glen Canyon National Recreation Area)||13%|
Marina Management Latest Statistics
Marina management is a crucial component of the marine industry, and the following statistics provide an overview of its impact:
- There are approximately 12,000 marinas in the United States, with 1,800 of them being in Florida.
- The global marina market size was valued at $28.08 billion in 2019 and is expected to reach $36.7 billion by 2027, growing at a CAGR of 3.7% from 2020 to 2027.
- The average age of marina owners is 57 years old.
- The annual revenue of the marina industry in the US is approximately $3.5 billion.
Marina Management Facts
Marina management is a complex task, and the following facts provide a detailed insight into the field:
- Marina management involves various tasks, including boat storage, fueling, docking, and maintenance.
- Marina managers need to have excellent customer service skills as they interact with boat owners and other stakeholders regularly.
- Effective marina management requires robust software solutions that can help with inventory management, customer relationship management, and other critical tasks.
Marina Management Benefits
Effective marina management can bring about significant benefits, including the following:
- Improved customer experience and satisfaction, resulting in increased customer loyalty.
- Better organization and management of the marina, leading to increased efficiency and productivity.
- Increased profitability and revenue generation.
Marina Management Trends
The following are some of the current trends in marina management:
- Increased focus on eco-friendliness and sustainability in marina operations.
- Growing popularity of digital marina management solutions.
- Increased use of automation and artificial intelligence in marina management.
Marina Management Adoption
Marina management solutions are becoming increasingly popular, with the following statistics indicating a growing adoption:
- Approximately 60% of marinas in the US use some form of marina management software.
- In 2020, the global marina management software market size was valued at $563 million.
Marina Management Market Analysis
The following are some key insights into the global marina management market:
- North America is the largest market for marina management solutions, accounting for approximately 40% of the global market share.
- The Asia-Pacific region is expected to witness the highest growth in the marina management market over the next few years.
Marina Management Demographics
The following are some demographic statistics related to marina management:
- Approximately 90% of marina owners in the US are male.
- The average age of boat owners is 53 years old.
Marina Management Software
Marina management software is an essential tool for effective marina management. The following are some insights related to marina management software:
- The most commonly used marina management software includes DockMaster, MarinaOffice, and MarinaWare.
- The use of cloud-based marina management software is growing rapidly, with an expected CAGR of 10.2% from 2020 to 2027.
Marina Management Opportunities
The following are some of the significant opportunities in the marina management industry:
- Growing demand for marina management software and services.
- Increasing focus on sustainable and eco-friendly marina management practices.
- Growing popularity of marina management franchises.
Marina Management Challenges
Effective marina management can be challenging, and the following are some of the significant challenges:
- Competition from other marinas and recreational facilities.
- Changing customer expectations and demands.
- Rising costs of operations and maintenance.