According to a new report produced by Deloitte in partnership with Confindustria Nautica (the Italian Marine Industry Association), the global market for new build boats reached €33.3 billion in 2025, down 2.1 per cent from 2023-2025.
The report indicates that the Italian boatbuilding industry has outperformed the global market trend (with an increase of around 5 per cent from 2023–2025), driven primarily by the superyacht segment. Approximately 70 per cent of Italian production value is attributable to large yachts and superyachts.
‘The State of the Art of the Global Yachting Market’ report was presented at the headquarters of the Italian Stock Exchange, Borsa Italiana, this week.
Speaking at the event, Piero Formenti, president of Confindustria Nautica, says: “The study confirms the resilience and competitive strength of the Italian yachting industry in a complex and constantly evolving international context. 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.”
The global yacht market
According to the report, the global order book for vessels over 30m peaked in 2023 at its highest level since 2009, supported by post-covid demand and wealth expansion, with early signs of stabilisation emerging in 2024–25.
In 2025, the total market value for new boat builds reached €33.3bn, a 2.1 per cent dip compared to 2023 reflecting stabilisation of demand following the post-pandemic surge.
During the 2020–2025 period, the sector outperformed global GDP (+3 per cent CAGR) yet grew less than the wealth of ultra high net worth individuals (+11 per cent CAGR), driven by the strong performance of financial markets (+14 per cent 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 terms of market share by propulsion, the inboard segment further consolidated its dominance in 2024, accounting for 59 per cent of the global market. Outboard and sailing followed with 33 per cent and 8 per cent respectively.
Geographically, North America and Europe maintained their critical role, together accounting for 75 per cent of the value of the global market for new boats.
The Italian boatbuilding industry continues to grow
The global yachting market report valued the Italian boatbuilding industry at an estimated €5.4bn-€5.5bn for 2025 (increasing by 5 per cent from 2023-2025) and thus bucking the global trend in the yachting sector, which was down 2.1 per cent during the same period.
The inboard segment dominates the Italian boatbuilding industry, with 93 per cent of national production (versus 56 per cent globally), showing further growth compared to the previous year, confirming the high level of specialisation in the sector.
“The Italian boatbuilding industry,” says 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.”
Italian yachting export market
Italy remains a powerhouse exporter of recreational vessels, with approximately 90 per cent of domestic production destined for international markets – 70 per cent of which is shipped to non-EU territories.
In 2024, the yachting sector contributed 8.6 per cent to Italy’s trade surplus. While the surplus growth has moderated slightly, the sector maintained an average annual growth rate of 14.4 per cent between 2015 and 2024, significantly outstripping the 3 per cent CAGR of Italy’s overall trade surplus during the same period.
‘The State of the Art of the Global Yachting Market’ report confirms that Italy accounts for approximately 18 per cent of the value of global yacht production, a share that rises to 31 per cent in the inboard segment.
In the superyacht sector, Italy maintains its leadership with 56 per cent of orders by unit and 36 per cent by value, driven by the 30–60-metre segment, while northern Europe focuses on superyachts over 60 metres.
The global superyacht market
The global order book stood at 677 units in 2025: the 30–40-metre segment accounting for 45 per cent of the total, the 40–60-metre segment for around 40 per cent, and the segment over 60 metres for the remaining 15 per cent. In 2024, the total value of the order book reached approximately €29 billion, up 4 per cent on the previous year, with the over 60-metre segment accounting for 55 per cent 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 per cent CAGR) in contrast to the global market (-2.1 per cent CAGR) and accounting for 62 per cent of global new orders in 2025.
Future outlook: rebound expected in the 2026–2029 period
In 2026, market sentiment indicates continued stabilisation across the global yachting sector. A marginal contraction of approximately 0.7 per cent is anticipated this year, an improvement over the downward trend recorded between 2024 and 2025.
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.
Between 2026 and 2029, a gradual recovery is anticipated with growth of approximately 3 per cent per annum. However, the report warns that geopolitical tensions and US trade barriers remain the primary risk factors, particularly for small boatbuilders facing inflationary pressure on raw materials and squeezed margins.
Antonio Solinas, deputy business leader at Deloitte Advisory Italy, says: “Tariffs and trade tensions 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.”
Formenti comments: “… 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”.
Speaking at the event, Marina Stella, general manager of Confindustria Nautica, says: “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.”
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