The boat industry in Italy has always played an important role in representing the country’s advanced manufacturing abilities in the global market. The Italian boat industry as whole, and in particular its yacht building and boat accessories sectors, has witnessed stable growth in terms of contribution to both GDP and export earnings. Today, other than building and selling yachts, motorboats, inflatable boats, and sailboats, Italian boat manufacturers are also finding new opportunities in the field of marine accessories, boating services, engine sales, and more.
As the boat business continues to be lucrative in the global market, the Italian boat industry is expected to exhibit growth over the next several years. BizVibe’s platform helps customers identify new product sourcing opportunities with the best experts from the top boat manufacturers in Italy. This modern business networking platform is targeted towards companies that want to simplify the buying and selling process, get quotes faster, and reach leading players from the Italian boat industry.
Grow Your Business Network: Connect with the Top Boat Manufacturers in Italy
Italian Boat Industry Overview
According to recent statistics revealed by Italian marine industrial organization, Ucina, Italy’s boat industry contributed over US $3.3 billion to the country’s economy in 2016, increasing by nearly 19% from 2015. The total employment in the Italian boat industry was recorded at 18,480 in the same year, marking a 1.9% increase from the previous year.
The Italian boat industry has been growing significantly over the last several years. After recovering from its low point in 2009, the industry turnover for boat construction and refitting jumped to $1.47 billion in 2014, while the boat accessory sector was worth $780 million and engines accounted for $25 million. In 2015 those numbers rose to $1.81bn for construction and refitting, $84m for accessories, while engines sales remained similar.
Ucina also reports that the growth of the Italian boat industry recorded in 2015 strengthened in 2016, with an 18.6% rise in revenues. Of the US $3.3 billion obtained by Italy’s boating industry, 76.2% resulted from sales abroad and 23.8% from the domestic market. Today, the largest revenue source in the Italian boating industry is the manufacturing of new vessels, which generates more than half of the total revenue (57%), followed by accessories (29%), engines (8%), and refits, repairs and storage (6%).
Exports from Italian Boat Industry
When it comes to boat exports, Italy is also the leading player in the global market. Italy exported over $1.9 billion worth of yachts, recreational boats and other pleasure or sports boats in 2016, representing over 14.5% of the world’s total boats supplies in that year, making it the world’s number one exporter for boats. The USA, France, Malta, Hong Kong, and the UK are some of the top markets where Italian boats are sold.
The prominence of the Italian boat industry has attracted a significant number of buyers and traders from all over the world. To help your boat business stay at the top of the industry, BizVibe provides the best solutions to source products and make business deals with the top boat manufacturers in Italy. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and companies on BizVibe.
Top companies in Italian Boat Industry: