Messages of (and hope for) stability from Yare: 174 superyachts in 2022 and almost 1,500 units by 2031
The Red Sea might become a new emerging target market for nautical tourism because the Mediterranean Sea will not be able to welcome all the new entries in the market
Lido di Camaiore (Lucca) – in 2022, 174 new super yachts entered the market, thus increasing the total number of pleasure crafts to 5,902 units. Moreover, 1,500 new boats will be under construction and will be completed by 2030. In fact, according to the current order book schedule for the upcoming years up to 2031, on average some 165 new buildings will be delivered every year mainly by the 45 shipyards which currently dominate the market, although (in theory) there are 700 ship builders worldwide.
The main categories in the market are 30-60 meters long yachts, with a special concentration on 40 meters long units.
Out of the 174 new entries in the market in 2022, 113 were pleasure boats ranging from 30 to 40 meters long, 42 units ranged from 40 to 60 meters long, 15 units ranged between 60 and 90 meters long and 4 yachts exceeded 90 meters.
These data (gathered by The Superyacht Group’s market intelligence) are some of the most significant figures revealed during the Superyacht Captains Forum held at the thirteenth edition of the Yachting Aftersales & Refit Experience (Yare) organized by Navigo in Tuscany.
According to forecasts, “the market will be stable, focusing on innovation, sustainability, training and services”. Although during his introductory speech Yare Chairman Vincenzo Poerio (head of the Tankoa Yachts shipyard) pointed out that “the future is uncertain”, he also wished that the yachting market trend “remains as it is”. Poerio also revealed that, according to the latest data about the industry, in 2021, in Italy, this sector generated a global turnover of 6.1 billion Euro and a double-digit percentage increase.
However, despite this special moment the industry must not forget its investments and perspectives: “right now we are building many units, therefore we tend to concentrate on production, but we must keep on investing also in research and innovation”, continued Poerio addressing participants, mainly including masters and other stakeholders.
Yare Chairman believes that “in Italy there is a single big district where large and historical trademarks are supported by companies with a great expertise. While, as our entrepreneurs demonstrated, excellent skills and great creativity are essential in order to consolidate the Italian and European leadership and promote its international growth, inspiration and expertise must be combined with teamwork and collaboration between all the companies of our sector in order to face new industrial policies and new internal and external scenarios caused by the war and the energy crisis”.
In the future of the industry there will be new emerging markets such as Egypt, United Arab Emirates, Greece, Montenegro and even Vietnam, where they are building new tourist ports and demand is increasing. According to The Superyacht Group editor Martin Redmayne, the Red Sea will probably become an important market, also because the Mediterranean Sea will not be able to welcome the entire super yacht fleet that will enter into operation in a few years.