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Confindustria Nautica and Deloitte outline the global yachting market

Organized by Italian Marine Industry Association, Confindustria Nautica, was held in Milan, at Palazzo Mezzanotte, headquarters of the Stock Exchange, the presentation of “The state of the art of the global yachting market”, the report created by Deloitte – one of the leading international consulting services firms – for Confindustria Nautica which takes stock of the market for 2021 of global boating with a focus on Italy. (Here all our posts about Confindustria Nautica)

Global yachting market, for Italy a +31% in 2021 

“The Italian yachting industry stands out once again as one of the driving sectors of the Made in Italy brand,” said Saverio Cecchi, President of the Italian Marine Industry Association, Confindustria Nautica. “Among the various marine economies, the yachting industry is the sector that has grown more than any other in 2021, achieving the greatest increase in turnover ever recorded (+31%), reaching a historical record in terms of exports and a 10% increase in direct employment”.

Global yachting market
Saverio Cecchi, president of Confindustria Nautica

Overcoming the challenge, a growing market

“Overall, what emerges is an expanding world market, featuring a yachting industry that has managed to shake off the difficulties of previous years. Italy is the second largest industry in the world. In this country, our companies are currently experiencing a dynamic moment in time, defining themselves as world leaders in the production of superyachts,” commented Tommaso Nastasi, Senior Partner and Value Creation Service Leader at Deloitte.

Global yachting market
The hall of Palazzo Mezzanotte crowded for the presentation of ‘The state of the art of the global yachting market’.

Global yachting market, a market worth €52 billion

These are the main figures emerging from the report by Deloitte for Confindustria Nautica. The global yThese are the main data that emerged from the Deloitte report for Italian Marine Industry Association, Confindustria Nautica. The global yachting market is worth € 52 billion in 2021 and around 60% of that value relates to new boat production and € 29.2 billion is the global market value of new boat production in 2021 with a growth of +10.7% compared to 2020.

Global yachting market
Global new and used boat market

Global yachting market
The global market for new construction sales grew by +10.1%.

Italy Leader in Superyachts

With regard to Italian shipyards, with a 49% share of total global orders, they confirmed their world leadership in the superyacht segment and the value of production of pleasure craft stood at € 3.6 billion in 2021 (+34% compared to 2020) with an estimate for the production of the Italian shipbuilding industry estimated at around € 4.1 – 4.3 billion in 2022.

Global yachting market
Italy accounted for almost 50% of superyacht orders.

Global yachting market, double-digit forecasts for 2022

Globally, growth expectations for 2022 are in double figures (+15%-20%), higher than in 2021 and driven by thGrowth expectations for 2022 at global level are showing double figures (+15%-20%), a prediction that is higher than in 2021 and that is driven by the motor segment. Forecasts for the production of new yachts in Italy for 2022 are between 15-20% compared to the previous year.

Global yachting market
Italian shipyards’ production showed resilience to the pandemic.

Merges & Acquisitions operations

More than 300 M&A deals have been carried out in the yachting sector in the last two years on a global level, 50% of which are focused on the downstream part of the yachting supply chain. 1 in 5 deals realised are in the yacht manufacturing industry. 60% of deals are made by investors active in the yachting industry; financial investors account for 15-20% of deals.

Global yachting market
Nautical operators and financial investors in M&A transactions.

Yachting in the world of luxury

Finally, it is interesting to note that the yachting market has been slower to recover from the financial crisis than other luxury segments, but have recorded a faster growth rate since 2018 even if it shows lower than average margin levels: the 11% versus 17%.

Global yachting market
Sectors in the luxury world.

Emilio Martinelli

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