Pleasure and sports vessels market in Italy

Earlier Report Observations

The Italian pleasure and sports vessels market experienced significant volatility between 2018 and 2020. The introduction of the STeD digital registration system and tax incentives for social boating in 2018 simplified procedures and broadened consumer access, contributing to a market surge to $1 407 million in 2019. However, COVID-19 restrictions and supply chain disruptions for fiberglass and electronic components in 2020 caused production delays and temporarily reduced the market volume to $652 million.

Recovery began in 2021 with the updated Navigation Code fully implementing EU Directive 2013/53, providing regulatory clarity, and social boating measures prioritizing port space for small vessels. The following year, the 2022 implementation regulation mandating satellite detection equipment for navigation beyond 12 nautical miles spurred demand for newer, compliant vessels, helping push the market to $1 470 million.

Growth continued through 2023 and 2024, supported by the launch of the D1 license for young boaters, which expanded the potential customer base, and the 2024 ministerial decree simplifying the registration of foreign-built pleasure craft. Despite pressures on the small-boat segment, the high-value super-yacht sector drove overall market value to a record $2 506 million in 2024.

Production pleasure and sports vessels in Italy

In value, 2017-2020, M $ US

Italy's production of pleasure and sports vessels declined after two years of growth. In 2019, output reached its peak at 3 600 million US dollars, but by 2020 it had fallen sharply to 2 748 million US dollars, marking a 23.6% decrease from the previous year. The largest annual increase occurred in 2019, at 31.5%. Over the period from 2017 to 2020, production grew by 17.4%, which translates to an average annual rate of 5.5%.

Annual dynamics of production in Italy in value, 2017-2020, M $ US

In kind, 2017-2020, unit

Production of pleasure and sports vessels in Italy rose for the third consecutive year. In 2020, Italy produced 24 933 units, representing a 2.3% increase compared to 2019. From 2017 to 2020, production more than doubled, with a total growth of 101.3% and a compound annual growth rate of 26.3%.

Annual dynamics of production in Italy in kind, 2017-2020, unit

Exports pleasure and sports vessels from Italy

Exports in kind, K unit

Export volumes of pleasure and sports vessels from Italy showed significant volatility. In 2018, exports hit their lowest point at 16.2 thousand units, but by 2020 they had surged to 88.0 thousand units, a 193.0% increase from the previous year. This resulted in a 5.4-fold difference between the lowest and highest years. The largest decline occurred in 2018, at 14.6%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, K unit

From 2017 to 2020, the main destinations for Italy's pleasure and sports vessel exports in volume terms were France, with 18.7% of the total, the United Kingdom at 18.3%, and Germany with 13.7%. Together, these three countries accounted for 50.6% of Italy's total export flows in this category.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, M $ US

After two years of growth, the value of pleasure and sports vessel exports from Italy declined. In 2019, exports peaked at 2 565 million US dollars, but by 2020 they had dropped to 2 403 million US dollars, a decrease of 6.3% from the previous year. The largest annual increase was recorded in 2019, at 17.7%. Over the 2017-2020 period, export value grew by 24.6%, equivalent to an average annual rate of 7.6%.

Annual dynamics of product's exports from Italy in value, 2017-2020, M $ US

Between 2017 and 2020, no single market dominated Italy's pleasure and sports vessel exports in value terms. The United States led with 17.5% of the total, followed by the Cayman Islands at 12.2% and Malta with 11.9%. Combined, these three partners accounted for 41.6% of total export value, with many smaller countries holding modest individual shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports pleasure and sports vessels to Italy

Imports in kind, K unit

Italy's imports of pleasure and sports vessels in volume terms increased in 2020, reaching 170.6 thousand units, up 25.1% from the previous year. Over the 2017-2020 period, imports grew by 63.5%, with a compound annual growth rate of 17.8%. The largest decline occurred in 2019, at 15.1%, while the largest increase was in 2018, at 54.1%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, K unit

From 2017 to 2020, China was the dominant supplier of pleasure and sports vessels to Italy in volume terms, accounting for 65.0% of imports. Spain followed with 9.7%, and France with 8.4%. Together, these three countries made up 83.1% of Italy's total import volume in this category.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, M $ US

In 2020, the value of pleasure and sports vessel imports to Italy fell to 307 million US dollars, a 17.5% decrease from 2019. Over the 2017-2020 period, import value increased by 3.4%, with a compound annual growth rate of 1.1%. The lowest value was recorded in 2018 at 279 million US dollars, while the peak occurred in 2019 at 372 million US dollars. The largest annual increase was in 2019, at 33.1%.

Annual dynamics of product's imports to Italy in value, 2017-2020, M $ US

Between 2017 and 2020, imports of pleasure and sports vessels to Italy in value terms were relatively evenly distributed among suppliers. France held the largest share at 29.5%, followed by the United Kingdom with 12.7% and the United States at 6.4%. Together, these three countries accounted for 48.6% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020