yacht market report 2022

The global boating market withstands the Covid-19 and, for the second year running, continues to grow. This is what emerges from Deloitte’s ‘Boating Market Monitor’ report, the market study that photographs trends and news in the boating market in Italy and around the world.

Despite the pandemic and financial turbulence linked to the new geopolitical context, the retail market for new boats continues to grow, demonstrating great resilience and dynamism. From 2014 to 2021, the market value has grown at an average rate of +10%, reaching a total value of around €28 billion,” says Deloitte Senior Partner Tommaso Nastasi in presenting the report.

Driving the positive trend in new construction are mainly the geographical areas of Europe and North America, which together account for around 70% of the market. By boat type, on the other hand, about 90% of the global new boat retail market is generated by powerboats and 10% by sailboats.

About the Italian nautical market

Prospects are also positive for the Italian boatbuilding industry, which has shown great resilience in the face of the pandemic and, supported by the recovery of exports to foreign countries, in 2021 has regained momentum.

Our analysis shows that, compared to the global market, Italian shipyards are mainly focused on the production of Inboard yachts, which account for about 90 per cent of our ship production,” explains Nastasi.

In particular, Italy is the leader in the global market for Superyachts, i.e. boats over 24 metres/80 feet in length. Compared to other countries, Italy is firmly in the lead when it comes to global orders for Superyachts, with around 520 projects in the Order Book in 2022,” explains the Deloitte Senior Partner.

Challenges for the industry, however, include business development and operational excellence.

The potential demand for luxury yachting is poorly penetrated and yards are still tied to traditional ‘go-to-market’ models, while over the years the other luxury sectors have sophisticated their model of approaching actual and potential market demand. Strategic initiatives to accelerate the top line and innovate the go-to-market model could support companies in the sector in developing their business, with consequent positive impacts in economic terms,‘ concludes Nastasi.

Click here to read the report: Boating market snapshot_Deloitte