Il nautical sector pleasure boat aims straight on the route of the 7 billion euro turnover in 2022 and the wind in the sails will continue also in 2023, with exports at historic highs. The trump card of Italian manufacturing lies in its productive diversification, unique in the world based on very dynamic medium and medium-large companies, above all in the mechanical sector.
This is the most recent data indicated by Confindustria Nautica with its fifth edition of “nautical figures Monitor” on the entire sector and by Deloitte, again commissioned by Confindustria Nautica, with the report 'The state of the art of the global yachting market' focused on the production sector of pleasure boats.
The forecasts ofwhole industry – which includes the production of shipbuilding, that of the components and accessories sector and that of marine engines – indicate an estimate of turnover for 2022 which could reach and exceed the threshold of € 7 billion, a value never done in the past, which would correspond to one growth between 15 and 20% compared to the previous year for the shipbuilding, says a statement from Confindustria.
Boating: the tailwind of 2022 is blowing again this year
For the future, according to a Deloitte market survey on shipyards associated with Confindustria Nautica, the segment inboard will record the highest growth rates in the short term, while the vessels among the 80-150 feet are expected to lead the market in terms of future growth, followed by units from 40-60 feet. Geographically, it is expected that Europe and North America will drive growth in 2022 and 2023, North America will then experience stronger growth over the long term.
“Boating from Italian pleasure stands out once more as one of the sectors drivers of Made in Italy", he has declared Saverio Cecchi, President of Confindustria Nautica. “Among the economies of the sea, lnautical industry it is the sector that grew more than all the others in 2021, with the best increase in turnover ever (+31%), recording the historic export record and a 10% increase in direct employees. The tailwind is also blowing in 2022 e still continues, above all thanks to the export exploits of shipbuilding and the ability of our entrepreneurs, who have been able to skilfully navigate the complex economic-political scenarios of recent years”.
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The trump card of Italian boating: its production diversification
According to Monitor, drawn up in collaboration with the Edison Foundation, “the scenario analyzes document how the Italian economy has emerged quickly and with a constant progression from the economic crisis generated by the pandemic. There Italian manufacture, in particular, he was able to bet on his trump card: his productive diversification, unique in the world. In fact, with a production structure made up of many niches of excellence, based on very dynamic medium and medium-large companies, Italy - and in particular the mechanical engineering and means of transport sectors - was less affected by the interruptions in global supplies. Criticalities that have not in fact prevented the Italian nautical industry from filing 2022 as a record year, exceeding 3 billion euros of exports.
The nautical turnover: Italy second for production, with half of the global orders
The production of Italian shipyards reached a value of 2021 billion euros in 3,6 (+34% compared to 2020) and saw an increase in exports (+ 34,7%).
Compared to the global market, Italian shipyards mainly focus on the production and sale of boats big dimensions. Furthermore, in 2021 Italy was the second country in the world for production, with a market share of around 12%.
The Italian share stands as in recent years around half of the world orders (49,3%), with an increase of 70 units compared to 2022. At a considerable distance, in the ranking by number of orders, followed by the United Kingdom, Taiwan and Turkey, with 126, 108 and 102 orders respectively. Italy has further strengthened its global leadership in the production of superyacht, says Monitor, confirming its shipbuilding industry at the top of the ranking with 593 units, touching the historical maximum of orders in the Global Order Book, for a corresponding overall length of 22.056 metres, says Confindustria Nautica. Furthermore, Italian shipyards are market leaders in the production of yachts from 30-60 meters, holding an established positioning on semi-custom superyachts with one length average equal to about 43 meters.
“Overall, an expanding world market emerges with a nautical industry that has fully left behind the difficulties of previous years. Italy is there second largest industry in the world. In Italy, our companies are experiencing a moment of great dynamism and are world leaders in the production of superyachts”, he says Thomas Nastasi, Senior Partner and Value Creation Service Leader at Deloitte. “The Italian pleasure boating sector has reached a total value of the production of new boats of 3,6 billion euros in 2021 with an increase of 34% compared to the previous year and with the contribution of the sector to the national GDP is equal to 2,9‰”, says the Deloitte report presented these days at the Italian Stock Exchange in Milan.
A world market worth 52 billion in 2021, M&A are growing
In 2021, the value of the world shipbuilding market was 52 billion. About 60% (29,2 billion euros) concerns the production of new boats, which grew by +10,7% compared to 2020 (+10,1% CAGR 2014-21), demonstrating a great resilience to impact of the pandemic. The new construction market is mainly represented by motor boats (about 90%) and, from a territorial point of view, from North America and Europe (about 70%).
In 2021, the superyacht sector recorded the delivery of 160 units over 30 meters and an order book of 509 units for an overall value estimated at 14,4 billion euros. At an international level, the yachting sector has recorded a great entrepreneurial ferment with over 300 operations of M&A rcarried out in the last 2 years. A number that confirms the datum of great dynamism and transformation at the level of the industrial and financial set-up.
