Emerging trends in the superyacht market

26th January 2023
The superyacht industry is undergoing a period of rapid change. In a conversation with SuperYacht Times, Camper & Nicholsons sales brokers reveal the latest market trends.

The superyacht market is constantly evolving. There are many different factors that can contribute to changing trends in the market, from a shifting demographic of owners to technological innovation. In a recent interview with SuperYacht Times, Camper & Nicholsons sales brokers Maël Fiolet, Benjamin Bensahel, Rodrigo Nicholson and Thomas O’Nial discussed the new and emerging trends they are observing.

In terms of design, many clients are starting to request yachts that blur the lines between interior and exterior spaces. “There is a clear desire with clients to reconnect with the sea and this is evident from some of the newer designs,” explains Bensahel.

O’Nial has also witnessed an increase in the demand for better experiences onboard. “From outdoor cinemas to wellness focused areas, which were traditionally limited to the largest of yachts, but can now be found on smaller vessels,” he comments. “The ability to carry a plethora of different toys and tenders is also an important element for clients, with many owners owning large chase tenders for convenience, thereby also freeing up the garage space for other toys.”

The growing trend of clients wanting to explore further afield to discover very remote parts of the world is also very prevalent. “More and more clients are becoming interested in the most efficient explorer yachts,” adds Nicholson.

There is one category of yachts that continues to dominate the brokerage market. “The 45 to 50-metre sub 500 GT segment remains the most popular, although the 500 GT barrier is less prevalent than it used to be,” says O’Nial.

Although motor yachts remain the most popular choice, Camper & Nicholsons is starting to see an uptick in interest in sailing yachts, especially amongst the younger generation. “The future of the sailing yacht market is looking promising,” comments Fiolet. “Modern sailing yachts have evolved to meet the needs of a younger generation without compromising on luxury. These younger clients are also more concerned about their global footprint, so sailing yachts are often a clear choice.”

Modern sailing yachts now offer larger interior volumes and place a greater importance on exterior comfort. The bridge between catamarans, sailing yachts and motor yachts is also closing in with more of these designs becoming more prevalent.

Sustainability is a mounting conversation in the industry. While marine diesel remains the most efficient fuel source for motor yachts, the discussion is continually evolving about more efficient and sustainable fuel options and there are positive developments in this field. “As in all industries, regulation is a main driver for innovation,” says O’Nial. “This has already been seen in recent years, with new rules on the treatment of NOx and other exhaust gases, leading to the installation of particle filters and other equipment.”

The industry is making a lot of progress towards other eco-friendly solutions. “Lürssen produces some of the largest yachts in the world and is working towards reducing noise and emissions to below the current regulatory limit,” adds Bensahel.

Looking ahead to the rest of the 2023, the brokers admit the future of the market is difficult to predict, particularly given global economic uncertainties. “But what you can know for certain is that more and more millennials will enter the market,” asserts Nicholson.

There is also still likely to be an imbalance between inventory and demand. “In-demand yacht models will very much still be fought over in the run up to the summer, however, it appears that less popular or older vessels lacking today’s standout features will experience a slowdown and drops in price,” advises O'Nial.

Many shipyards have no more new-build space for up to two years, so there are more clients wanting to purchase used yachts and refit to meet their needs. “Next year will be a challenging year for the industry, with many yachts set for delivery and a decreasing inventory. But hopefully Q1 will certainly still be active in sales,” concludes Bensahel.

Despite the uncertainty for 2023, Camper & Nicholsons team of brokers across the globe are ready to embrace the changes and challenges in the yachting industry by using their wealth of knowledge garnered from over 240 years in the business.

Contact the sales team for more information here.