This article will reveal the best luxury yacht builder and shipyard in the world. Check out our full list of According to a study from the , the global new build yachting market has reached €33 billion ($35.9 billion) during the industry boom in 2022.
This marks an 11% increase from the year before, and a CAGR of 10% since 2014. Increasing prices, along with increasing demand from customers, has been responsible for this positive growth. According to the study, Europe and North America are the biggest consumer groups, taking up 70% of the total market share.
Italy remains at the top in yacht building, generating €4.4 billion in yacht production value for 2022. Despite the positive growth, superyacht sales have taken a dive in 2023, the new indicates.
Long wait times, rising costs, and the exclusion of Russian oligarchs from the superyacht market have all led to this decline. There were 203 superyacht sales in 2023, down from 245 in 2022, and from a record 313 in 2021. A buyer placing an order for a new yacht over 200 feet today has to wait three to four years owing to backlogs from the pandemic.
Orders for yachts between 200 t0 600 feet have experienced the most decline, by 40%, largely since the rich buyers from Russia are dropping out of the market. Despite the drop in new sales, yacht completions have been up. According to SuperYacht Times, there are now nearly 6,000 super yachts, triple the number in 2022.
It wasn't simple to make a list of the world's best yacht buil.