The global boatbuilding market is projected to reach €33.3 billion by 2025

The global boatbuilding market is projected to reach €33.3 billion by 2025, against a backdrop of gradually stabilising market demand following post-Covid recovery

• Italy bucks the global trend, with growth (CAGR 2023-2025: +5.0%) driven by the superyacht segment
• By 2025, the Italian boatbuilding industry will exceed €5 billion and become the market leader in the superyacht sector, with a market share of 56% by volume and 36% by value (34% in 2024)
• Exports: 90% of Italian production is destined for international markets, of which 70% is destined for non-EU countries
• Market sentiment among operators forecasts a further stabilisation of the market in 2026 (-0.7%)
• From 2027 onwards, a gradual recovery in global demand is expected (+3% annually), with a mix increasingly focused on medium-to-large boats
• Geopolitical and trade tensions risk impacting market growth, go-to-market strategies and sector margins

Milan, 12 May - The global market for new boat builds in the 2023-2025 period has stabilised (-2.1%, standing at €33.3 billion), however the Italian boatbuilding industry has managed to buck the global market trend (at around +5% in the 2023-2025 period). Approximately 70% of Italian production value is attributable to large yachts and superyachts, confirming the Italian boatbuilding industry's focus on the high-end segment of the market.

These are just a preview of the findings listed in the fourth edition of "The State of the Art of the Global Yachting Market", a report produced by Deloitte in partnership with Confindustria Nautica, the Italian Marine Industry Association,and presented today at the headquarters of the Italian Stock Exchange, Borsa Italiana. The event was attended by Roberta Laveneziana, Listing Senior Account Manager Mid & Small Cap at Borsa Italiana - Euronext Group, Marina Stella, General Manager of Confindustria Nautica, Stefano Pagani Isnardi, Head of the Research Department at Confindustria Nautica, Piero Formenti, President of Confindustria Nautica, Antonio Solinas, Deputy Business Leader at Deloitte Advisory Italy, and Tommaso Nastasi, Strategy & Value Creation Leader at Deloitte Advisory Italy.

Opening the event, Roberta Laveneziana stated: "Companies in the boating sector could benefit from access to the capital markets: greater visibility, international reputation, the ability to attract investors and talent, the opportunity to finance expansion projects and to effectively manage generational transitions. In an increasingly challenging global context, the ability to innovate, invest and grow sustainably is fundamental. The stock market represents a strategic lever for addressing these challenges, offering Italian companies the opportunity to strengthen their position in international markets and contribute to the country's economic development. I am convinced that opportunities such as this are particularly useful and inspiring for companies operating throughout the sector."

Marina Stella, General Manager of Confindustria Nautica, stated: "When dealing in an international context perturbed by geopolitical tension and rapid economic shifts, data and their analysis are becoming increasingly important to supporting companies in their strategic decisions, preserving market share and continuing to compete internationally, by leveraging the excellence that both distinguishes the Italian yachting industry and represents its main competitive advantage. The fourth edition of the report put together by Deloitte for Confindustria Nautica confirms its status as a comprehensive and in-depth analytical tool for interpreting the evolution and dynamics of the global yachting market, the positioning of the Italian yachting industry and the sector's outlook."

"The study confirms the resilience and competitive strength of the Italian yachting industry in a complex and constantly evolving international context," stated Piero Formenti, President of Confindustria Nautica. "While, globally, we are seeing a normalisation of growth trends and greater difficulties for certain segments of the small boat sector, Italy continues to strengthen its position, recording results that surpass the global market in terms of order intake and consolidating its leadership in the high-value-added superyacht sector. In this scenario, the Association's advocacy work remains central, as with the recent Law on the Enhancement of Marine Resources, alongside the role of the Genoa International Boat Show, which, in times of heightened economic and geopolitical complexity, reaffirms its role as a strategic platform for open dialogue, business development and access to international markets for the entire supply chain. Opportunities for dialogue such as these with the financial world undoubtedly represent an important chance to learn about new tools capable of supporting the processes of consolidation and capital strengthening for businesses".

"The Italian boatbuilding industry," commented Tommaso Nastasi, Strategy & Value Creation Leader at Deloitte Advisory Italy, "is bucking the current trend of the international market, given its industrial structure primarily focused on large yachts, which are counter-cyclical in relation to the macroeconomic context."

"Tariffs and trade tensions," continued Antonio Solinas, Deputy Business Leader at Deloitte Advisory Italy, "are one of the main sources of uncertainty regarding the sector's sales performance and profit margin forecasts. For an industrial sector such as the yachting industry, which makes a significant contribution to the country's trade surplus, it is a priority to rigorously analyse the customs strategies adopted, verify the full utilisation of available regulatory advantages, and explore opportunities in new export markets that are less exposed to tariff turbulence, or avenues for production diversification through alliances with international operators."

The global yachting market

In 2025, the global market for new boat builds stood at €33.3 billion, recording a 2.1% contraction compared to 2023, against a backdrop of gradually stabilising demand following the post-Covid rebound, mainly attributable to the outboard segment and partially offset by the resilience of the premium and superyacht sectors. Over the 2020-2025 period, the sector outperformed global GDP (+3% CAGR) yet grew less than the wealth of Ultra High Net Worth Individuals (+11% CAGR), driven by the strong performance of financial markets (+14% CAGR).

Against a backdrop of growing uncertainty, the entry-level and mid-size segments have slowed, while the large yacht sector has demonstrated greater structural resilience. In 2024, the inboard segment further consolidated its position, reaching 59% of the global market, while outboard and sailing accounted for 33% and 8% respectively. Geographically, North America and Europe maintained their central role, together accounting for 75% of the value of the global market for new boats.

The Italian boatbuilding industry continues to grow

The value of Italian boatbuilding is estimated at between €5.4 and €5.5 billion in 2025 (CAGR 2023-2025 +5%), bucking the global trend in the yachting sector (-2.1% over the same period). Around 70% of production is attributable to large yachts and superyachts. The inboard segment dominates with 93% of national production (vs 56% globally), showing further growth compared to the previous year, confirming the high level of specialisation in the Italian boatbuilding industry.

Exports remain a strategic driving force for the sector: Italy is one of the world's leading exporters of recreational craft, with approximately 90% of domestic production destined for international markets, 70% of which is destined for non-EU countries. In 2024, the yachting sector contributed 8.6% to Italy's trade surplus, confirming the sector's strategic role in the national trade balance. Although slightly down on the previous year, against a backdrop of an overall improvement in Italy's trade balance, driven by a reduction in the energy deficit and the resilience of the manufacturing sector, the yachting sector's surplus recorded an average annual growth rate of +14.4% over the 2015-2024 period, a rate that is significantly higher than that of Italy's overall trade surplus (+3.0% CAGR over the same period).

Italy accounts for approximately 18% of the value of global yacht production, a share that rises to 31% in the inboard segment. In the superyacht sector, Italy maintains its leadership with 56% of orders by unit and 36% by value, driven by the 30-60-metre segment, while Northern Europe focuses on superyachts over 60 metres.

The superyacht market

The global order book stood at 677 units in 2025: the 30-40-metre segment accounts for 45% of the total, the 40-60-metre segment for around 40%, and the segment over 60 metres for the remaining 15%. In 2024, the total value of the order book reached approximately €29 billion, up 4% on the previous year, with the over 60-metre segment accounting for 55% of the total value.

During 2025, a slowdown in order intake is observed, but with a demand mix skewed towards the over 50-metre segment, signalling a polarisation of demand towards the high end of the market.

Italy remains the global leader in new superyacht orders, recording growth in new orders over the 2020-2025 period (+1.3% CAGR) in contrast to the global market (-2.1% CAGR) and accounting for 62% of global new orders in 2025.

Future outlook: rebound expected in the 2026-2029 period

For 2026, market sentiment points to further stabilisation of the global yachting market, with a slight contraction expected of around -0.7%, an improvement on the trend observed in the 2024-2025 period. The premium and superyacht segments continue to show greater resilience compared to the overall market trend (+0.9%), confirming the counter-cyclical nature of the high-end segment.

For the 2026-2029 period, the outlook points to a gradual recovery in demand, with expected growth of around 3% per annum. The main external risk factors remain geopolitical tensions, with more significant impacts on the small boat sector and potential inflationary pressures on raw materials and semi-finished products, and the trade barriers introduced by the United States, which have already put pressure on the sector's average profit margins and affected operators' go-to-market strategies.