Market evolution: Large motor yachts (CN 89033310) — 2015–2025

Introduction

This report analyzes the EU's trade in large seagoing motor yachts (over 24 meters) for pleasure or sports over the decade ending in 2025. Based on the available data, the period has been characterized by a dramatic shift from trade in volume to trade in value, significant changes in market specialization, and a strengthening of the EU's position as a global net exporter in this high-end segment.

From volume-driven to value-driven trade

The most striking feature of the 2015-2025 period is the simultaneous decline in the number of yachts traded and the surge in their total monetary value, indicating a market moving decisively towards larger, more expensive vessels.

Export value nearly doubled despite fewer units shipped

EU exports of large motor yachts saw their value increase by 90.5%, from approximately €3.98 billion in the first period to €7.57 billion in the last. This impressive growth occurred while the number of units exported fell by 21.5%, from 228 to 179 pieces. The average price per exported yacht consequently soared by 142.6%, reaching over €42 million per unit in the final period.

Import value grew with a sharper drop in unit counts

Imports followed a similar pattern. Their value rose by 45.7% to nearly €3.29 billion, but the number of imported yachts plummeted by 66.8%, from 301 to just 100 units. This led to an even more pronounced increase in the average import price, which escalated by 338.5% to nearly €32.9 million per yacht.

The EU's trade surplus expanded substantially

Driven by the strong export performance, the EU's trade balance for this product line widened significantly. The surplus grew by 149.3%, rising from a first-period value of about €1.72 billion to approximately €4.28 billion in the final period. This confirms the EU's dominant and strengthening role as a producer and exporter in this luxury segment.

Geographic specialization and shifting partnerships

The market structure has evolved, with a clear concentration of production in a few EU member states, while the geographic patterns of trade partners have become less concentrated over time.

Italy is the undisputed EU production hub

Italy exhibits the highest revealed comparative advantage (RCA) among EU exporters, with a value of 9.16 in 2025 and an exceptionally high normalized index (RSCA) of 0.80. This aligns with Italy's well-known shipbuilding heritage and is reflected in its dominant share of EU exports, which rose from €1.26 billion to over €2.03 billion.

Trade partnerships diversified, reducing concentration

The Herfindahl-Hirschman Index (HHI) measures market concentration. For both imports and exports, the HHI decreased markedly over the period, indicating a broadening of trade relationships.

Key partner shifts reveal evolving demand

For exports, traditional destinations like Jamaica and Caribbean registries saw decreases in value, while the Netherlands emerged as the dominant export destination, growing from €2.5 billion to €5.18 billion. On the import side, the decline of the Cayman Islands as a source was offset by the rise of Norway and Türkiye as significant source countries.

Strengthened global export orientation

The EU's structural position in the global market for large yachts has solidified, characterized by a strong export propensity and a deepening negative net import reliance, meaning it consistently exports far more than it imports.

The EU is a pronounced net exporter

The net import reliance metric, which was negative throughout, intensified from -28.6% in the first period to -149.6% in the last. This indicates the EU's production for external markets vastly exceeds its consumption of imported yachts, reinforcing its role as a leading global supplier.

Export propensity remains very high

The export propensity measures the share of EU production that is exported. Although it declined from 160.7% to 91.6%, it remains exceptionally high (a value above 100% can occur if production is measured differently than exports). This confirms the industry's outward focus and its dependence on global, particularly extra-EU, demand.

Domestic production capacity expanded

Supporting the strong export trend, the EU's domestic production of this category grew substantially. The number of items produced increased by 151.0%, from 22,867 to 57,400 units, while the production value saw an even more dramatic rise of 362.5%, climbing from approximately €2.0 billion to €9.24 billion. This indicates a boom in the construction of high-value pleasure craft within the EU.

Conclusion

Between 2015 and 2025, the EU market for large seagoing motor yachts underwent a transformative period. The primary narrative is one of value over volume, with trade values soaring as the average size and price of the traded vessels increased sharply. This happened within a more diversified and specialized trade ecosystem, where Italy cemented its role as the production nucleus and the network of trade partners broadened. Ultimately, the EU solidified its position as a global powerhouse and net exporter, with its industries ramping up production to meet strong international demand for these luxury assets.