After a decline in 2025 due to tariff uncertainties, a recovery in global yacht building is expected in 2026/2027.
The latest report by Deloitte in collaboration with The Italian Marine Industry Association, Confindustria Nautica shows that 2023 was a record year for the global yacht industry with the global market reaching €34.8 billion, up 7.3% compared to 2022.
2024 growth is expected to be steady with global estimates forecasting a contraction of around 5%, driven mainly by the decline in small boats, partially offset by premium brands and superyachts.
The The State of the Art of the Global Yachting Market 2025 Edition shows that the premium and large yacht segments are bucking the trend, with expected growth of between 5 to 10% depending on market tier.
The Italian yacht-building industry continues to stand out as a global player.
Tommaso Nastasi
However, US tariffs are expected to hit mainly small and medium-sized boats.
Italy is the world’s leading yacht exporter with around 90% of Italian production destined for export, representing about 13% of the national trade surplus.
This figure is up from 3% in 2015, with North America and Europe accounting for 72% of the market.
In the superyacht segment, Italy maintains a leadership with 54% of orders by units and 34% by value, driven by the 30 to 60 meters segment.
Industry remains well positioned
“The Italian yacht-building industry continues to stand out as a global player, combining industrial leadership and export capability mainly in large yachts,” explained Tommaso Nastasi, partner and value creation service leader at Deloitte Italy.
“Despite the market slowdown, the sector shows stronger fundamentals than in previous years and remains well positioned to capture future demand for high-value boats, supported by the growth of private wealth and a unique global competitive positioning”.
In terms of superyachts, in 2023 the global order book reached 696, the highest level since 2009.
Overall sector performance
The segment of yachts over 60 meters accounted for 15% of units and 57% of value.
Deliveries reached 212 units in 2023, the highest since 2008, driven by the 30 to 40 meters segment.
Around 235 units were expected for 2024.
For the future, it is expected that the larger yacht and superyacht market will continue to drive overall sector performance.
A slowdown is expected in 2025 with a recovery expected in 2026 and 2027, with tariffs one of the main uncertainty factors shaping expectations for sales and margins.
