Asia-Pacific: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Asia-Pacific

In 2021, after two years of growth, there was significant decline in the Asia-Pacific inflatable vessel market, when its value decreased by -10.9% to $X. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.8% against 2014 indices. Over the period under review, the market reached the peak level at $X in 2020, and then reduced in the following year.

Inflatable Vessel Production in Asia-Pacific

In value terms, inflatable vessel production fell to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +42.7% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 29% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Inflatable Vessel Exports

Exports in Asia-Pacific

In 2021, shipments abroad of inflatable vessels for pleasure or sports increased by 83% to X units, rising for the fifth consecutive year after two years of decline. Overall, exports enjoyed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, inflatable vessel exports surged to $X in 2021. Over the period under review, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the key exporting country with an export of around X units, which finished at 71% of total exports. It was distantly followed by Vietnam (X units) and Indonesia (X units), together creating a 22% share of total exports. South Korea (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to inflatable vessel exports from China stood at +5.6%. At the same time, Indonesia (+79.3%), Vietnam (+41.9%) and South Korea (+17.8%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +79.3% from 2012-2021. While the share of Vietnam (+14 p.p.), Indonesia (+7 p.p.) and South Korea (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-12.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest inflatable vessel supplier in Asia-Pacific, comprising 93% of total exports. The second position in the ranking was held by Indonesia ($X), with a 1.6% share of total exports. It was followed by Vietnam, with a 1.5% share.

In China, inflatable vessel exports increased at an average annual rate of +13.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+42.5% per year) and Vietnam (+22.5% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price, however, continues to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by 99%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the other leaders experienced a decline in the export price figures.

Inflatable Vessel Imports

Imports in Asia-Pacific

In 2021, overseas purchases of inflatable vessels for pleasure or sports increased by 65% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed a buoyant increase. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, inflatable vessel imports skyrocketed to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.6% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia was the main importer of inflatable vessels for pleasure or sports in Asia-Pacific, with the volume of imports reaching X units, which was approx. 57% of total imports in 2021. New Zealand (X units) took the second position in the ranking, followed by Japan (X units), Indonesia (X units) and South Korea (X units). All these countries together took near 34% share of total imports. The following importers - Thailand (X units) and Malaysia (X units) - together made up 4.6% of total imports.

Imports into Australia increased at an average annual rate of +12.7% from 2012 to 2021. At the same time, Malaysia (+18.6%), South Korea (+18.5%), Indonesia (+13.6%), Japan (+12.0%), New Zealand (+4.6%) and Thailand (+3.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +18.6% from 2012-2021. While the share of Australia (+11 p.p.), South Korea (+2.4 p.p.) and Indonesia (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-2.4 p.p.) and New Zealand (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported inflatable vessels for pleasure or sports in Asia-Pacific, comprising 49% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by New Zealand, with an 8.8% share.

In Australia, inflatable vessel imports increased at an average annual rate of +12.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+0.9% per year) and New Zealand (+11.7% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, reducing by -8.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible decline. The growth pace was the most rapid in 2020 an increase of 36%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+6.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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