This article will reveal the best luxury yacht builder and shipyard in the world. Check out our full list of 15 best luxury yacht builders and shipyards in the world.
Luxury Yacht Builders Rebound Post-Pandemic
According to a study from the Italian Marine Industry Association and Deloitte, 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 SuperYacht Times’ State of Yachting report 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 builders and shipyards in the world, especially now when it seems that the superyacht business has regained its momentum. Following the pandemic’s upheaval, boat builders have resumed normal operations. There are now 173 small yacht manufacturers and large builders in 25 countries working on at least one yacht larger than 24m. Every year, around 400 boats larger than 24m are supplied to their owners by luxury yacht companies that specialize in yacht categories or product segments that distinguish them from other commercial shipyards. Experts believe that there are currently around 5,000 boats larger than 24 meters navigating the world’s oceans.
The Netherlands and Germany leads the yachting sector in terms of providing yachts larger than 50m with high volume and value. Some other yacht builders in the world include those in Turkey, Asia, North America, South Africa, Oceania, and Brazil. Turkish shipyards are now building motor and sailing yachts out of GRP and steel, North America has turned its focus on semi-custom motor yachts, Asia is known to be a hub for production series motor yachts made from GRP, while the top builder nation Italy excels in larger yachts and more customizable options.
When it comes to the US, United States Luxury Yacht Market is expected to reach USD 4.45 billion in 2024 and grow at a CAGR of 8.25% to reach USD 6.61 billion by 2029. On the list of yachth-related companies, Marine Max, Inc. (NYSE: HZO) is a known name, with a $750 million market capitalization. The total enterprise value is $1.76 billion. The corporation is headquartered in Florida and employs an estimated 2,666 people. In the United States, the company has a significant market share in at least one area as a boat dealership and repair company, where they account for an estimated 6.4% of total industry sales. They are classified as an All-Star and one of the best luxury yacht brands because they have a higher market share, profit, and revenue growth than their competitors.
A boat is in the middle of a body of water
Methodology
To compile a list of the premier luxury yacht builders and shipyards globally, we undertook a comprehensive comparison of leading companies with those recognized for producing the most esteemed and high-value yachts. Our methodology involved cross-referencing top-rated yacht lists with data on their builders. By aggregating the frequency of mentions across lists such as IYC Yacht, YachtWorld, Elite Traveler, amongst others; we established a preliminary ranking. Subsequently, we assessed these companies based on the prominence of their yachts on industry-leading rankings and their annual revenue. This analysis revealed that the top-ranked companies distinguished themselves not only through frequent appearances on prestigious lists but also through exceptional performance across various metrics.
1. Lürssen
Insider Monkey Score: 6
There is no ranking of the top yacht companies or boats that does not include Lürssen as one of the best in its area. Lürssen, a German shipyard with headquarters in Bremen-Vegesack and shipbuilding facilities in Lemwerder, Berne and Bremen-Fähr-Lobbendorf, has been a leader in marine innovation since 1875. Lürssen, which built the world’s first speedboat and some of history’s most renowned superyachts, including Azzam, Limitless, and Dilbar, is currently run by fourth-generation family members who are carrying on their great-grandparents’ legacy. Lürssen was created by Friedrich Lürßen, a 24-year-old German boatbuilder who learned about the industry from his father Lüder Lürßen, who also owned a boatbuilding workshop. The company’s long-standing connection to shipbuilding and German maritime excellence has helped it land first place on the list of the best luxury yacht builders and shipyards in the world.
Check out our full list of 15 best luxury yacht builders and shipyards in the world.
At Insider Monkey, we delve into a variety of topics, ranging from the most hated brands to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer is Recommending These 10 Stocks in June.
Disclosure: None. This article is originally published on Insider Monkey.
Credit: Source link