All the forecasts for the 2023 large-scale boating industry

What's expected for the luxury yachting industry in the coming year? The industry's most respected voices confirm growth driven by several factors, with the arrival of new customer segments. The common denominator among those entering this world is their younger age compared to the past; a different age brings with it new needs that are challenging the industry to find services that meet them. Among these new clients are families with children, who, among other things, as noted by Camper & Nicholsons, a renowned international broker, in an article published by Super Yacht Times, actively participate in the purchasing decision-making process.

A trending demand is for a boat that increasingly serves as a personal oasis for those who live on it, with spaces increasingly connected to the sea and thus blurring the boundaries between interior and exterior areas. There is also a growing demand for more onboard space, even on smaller yachts, dedicated to wellness and recreation; the desire for tenders and water toys is growing, and consequently, the need for more space to accommodate all of this without sacrificing anything. Hence, designers are working on new layouts that maximize onboard space. Also growing among enthusiasts is the desire to explore new, often unusual, places in their free time: hence the growing demand for explorer yachts capable of navigating the world's seas safely and with maximum efficiency to reach remote destinations.

The resurgence of sailing is a significant and somewhat novel trend. This phenomenon appears to be more prevalent among younger generations, who are nevertheless highly demanding and require more advanced boats, both in terms of their environmental footprint, which must be increasingly reduced through the use of eco-sustainable materials, and in terms of greater comfort. Hence the demand for larger spaces, without sacrificing luxury.

In motor yachts, the 45-50 meter range under 500 gross tonnage remains the leading segment, but with attention paid to this decreasing gross tonnage barrier.

The widespread growth in interest in catamarans, sailing boats, and motorboats is producing an ever-increasing number of models, all of which share the same designer's research into new materials that best combine eco-sustainability, efficiency, and performance; factors that are determining a greater number of potential customers and a change in the market.

For propulsion, marine diesel appears to remain the most efficient fuel for now. Naturally, the debate on the best options remains open and evolving, and positive progress is being made thanks to current regulations, which, with their standards for the treatment of pollutants, are the main driver of innovation. This innovation, in practice, now translates into the installation of particulate filters and other equipment. The issue of reducing emissions—including noise, which large shipyards are working on—has been addressed. also the subject of the recent Super Yacht 24 forum where some of the major exponents of the nautical industry expressed their opinion, confirming the great attention the sector has received, and the heads of international companies presented the various initiatives and projects underway.

The industry is already making great strides towards a greener future thanks to battery developments that include smaller yachts capable of operating entirely on battery power at anchor, but further improvements are expected and necessary across the entire sector.

Next year, therefore, promises to see a growth in the younger customer base for the nautical industry, and it's difficult to predict what this will bring. Camper & Nicholsons maintains: "Our industry has always lagged the global economic curve by six to twelve months, so it can be difficult to predict what 2023 will look like." In short, the challenge is ongoing and will continue: near-future progress in eco-friendly product solutions will also be important to comply with current regulations.

Concluding with expectations for motor yacht sales, the well-known international broker believes that shipyards will continue to perform well, even though inventory and demand issues remain. He predicts strong performance for the currently most sought-after models ahead of next summer, while demand for smaller, older vessels could decline. The analysis also addresses delays caused by Covid-19 and the subsequent explosion in demand: the severity of the situation varies depending on the country where the yachts are built. Builders are strongly committed to making up for lost time, yet they face several challenges: sourcing skilled labor, scarce materials, and long lead times for acquiring or expanding production facilities. And since many shipyards no longer have space for new builds for up to two years, there is an increasing number of clients looking to purchase used yachts to refit to meet their needs.

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