A study prepared by Deloitte for the Italian trade groups Nautica Italiana and Altagamma forecasts new-boat sales in the Italian boating industry to grow 13% this year. The study expects Italian shipyards to sell new boats valued at €2.3bn. Exports will account for 88% of total revenues.
The Deloitte study was introduced at a press conference last week at the Monaco Yacht Show. It highlighted Italian sales for the first time.
The study also reported positive trends in global boat sales, noting that the value of new recreational boats last year was €21bn, up 8% from 2015. It forecasts 11% growth to €23bn in 2017.
The study highlighted different sectors in the global boating industry. The report showed inboard and sterndrive-powered boats accounting for €12.3bn among new-boat sales in 2016. Outboard and inflatable markets were worth €6.2bn and the sailboat market had sales of €2.2bn.
In Italy, revenues of inboard-powered boats in 2016 approached €1.8bn, accounting for 90.4% of production. Outboard and inflatable boats had sales of under €0.1bn (or 3.1% of total sales) while sailboats accounted for over €0.1bn (6.5%). The Italian industry has seen new-boat sales growth since 2012. Last year, total revenues were up 15.3% over 2015, while the previous year-over-year sales grew 16.4%.
Italy also now has 49% of total orders for the global order book for power superyachts. The country currently has 86 superyacht projects in build, making it the largest producer in terms of units. On a global basis, the order book reached 314 units (on order and under construction), up 6.4% compared to 2016.
The study’s authors reported the value of superyachts in the pre-owned segment as €2,1bn in 2016, with 227 units sold. About 90% were motorboats, accounting for 92% of total sales value. The sectors that saw unit growth rate were in the 65m+ (60%), and 30m-40m (1%) from 2015-2016. Sales fell in the 51m-65m (7%) and 41m-50m (22%) during that same period. Across total size ranges, the compound annual growth rate (CAGR) from 2009-2016 was up, with the greatest gains being in the 41m-50m (9%) and 51m-65m (10%) segments.
The study also pointed out that the value of production for Italian shipyards has been rising steadily since 2012, but remains well under the record years of €3.6bn in 2007 and 2008.
Lorenzo Pollicardo, general secretary of Nautica Italiana, praised how well Italian yards have embraced the export market. “The Italian shipyards production also shows how power-superyachts, 20/50 meter length, maxi rib, and custom sailboats are the best performing sectors,” he added.
Paolo Vitelli, chairman of the Azimut/Benetti Group, asked at the conference about the discrepancies between Nautica Italiana’s sales datar for Italian shipyards and a similar report issued by UCINA. The study’s authors said they had reached out to UCINA to possibly work together on future research.