Report shows Italy’s yacht industry remains strong despite market slowdown 

Deloitte, in collaboration with the Italian Marine Industry Association, Confindustria Nautica, have presented its latest State of the Art of the Global Yachting Market 2025 report during a press conference at Borsa Italiana’s Palazzo Mezzanotte, in Milan, ahead of the 65th edition of the Genoa International Boat Show. 

The findings show that the global yacht building industry reached a record €34.8 bn in 2023, up 7.3 per cent compared with 2022. While 2024 forecasts show a 5 per cent contraction, mainly impacting small and medium-sized boats. In the superyacht world, the report shows projected growth in this segment is expected to show resilience, with growth between 5 and 10 per cent. 

Italian marine industry figures

For Italy, the outlook remains positive. With 90 per cent of yacht production for export, the sector contributes around 13 per cent of the national trade surplus, up sharply by 3 per cent in 2015. Italian shipyards retain a leading global position in the superyacht market, particularly in the 30-60 metre category, representing 54 per cent of orders by unit and 34 per cent by value.

“The Italian yacht-building industry continues to stand out as a global player, combining industrial leadership and export capability mainly in large yachts,” comments 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,” Nastasi adds. 

For the superyacht sector, strong performance has shown resilience. Between 2019 and 2023, revenues were up 6.5 per cent, profitability reached 15 per cent, and the global order book peaked at 696 units in 2023 – the highest since 2009. Deliveries also increased, reaching 212 units, with 235 forecast in 2024. 

Italian leaders were interviewed in 2024 and estimated moderate growth in 2024, a slowdown in 2025, with recovery expected in 2026 and 2027 for Italy’s yacht industry. Tariff uncertainty stands out as a key concern, with potential impacts on demand, margins and international trade strategies. 

“Tariffs are one of the main uncertainty factors shaping expectations for sales and margin performance in 2025,” explains Ernesto Lanzillo, partner and private leader at Deloitte Italy. 

“For an industrial sector such as yachting, which has a very significant weight on the country’s trade surplus, it is even more important to critically review the customs strategies adopted so far. It is necessary to ensure that all available regulatory advantages have been leveraged, while also analysing opportunities in new export markets less exposed to tariff turbulence, or production relocation through alliances with international players. The role of industry fairs, therefore, regains great importance, not only to increase product visibility, but also to establish strategic connections among international operators,” adds Lanzillo.

While market corrections are expected, Deloitte’s report makes it clear that superyachts and Italy’s role in building them remain strong.