Asia-Pacific: Motor Boat Market 2024

Motor Boat Market Size in Asia-Pacific

In 2021, after three years of growth, there was significant decline in the Asia-Pacific motor boat market, when its value decreased by -21.3% to $X. In general, consumption recorded a mild shrinkage. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Motor Boat Production in Asia-Pacific

In value terms, motor boat production contracted to $X in 2021 estimated in export price. Overall, production, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Motor Boat Exports

Exports in Asia-Pacific

In 2021, shipments abroad of motor boats and motor yachts, for pleasure or sports was finally on the rise to reach X units after three years of decline. In general, exports, however, recorded a abrupt descent. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, motor boat exports rose sharply to $X in 2021. Total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.6% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 69% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan represented the key exporter of motor boats and motor yachts, for pleasure or sports in Asia-Pacific, with the volume of exports amounting to X units, which was approx. 53% of total exports in 2021. Australia (X units) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by China (14%) and Singapore (4.8%). The following exporters - New Zealand (X units) and Thailand (X units) - together made up 6.7% of total exports.

From 2012 to 2021, average annual rates of growth with regard to motor boat exports from Japan stood at -10.7%. At the same time, China (+36.8%), Thailand (+29.9%), Australia (+8.3%) and Singapore (+6.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +36.8% from 2012-2021. By contrast, New Zealand (-2.2%) illustrated a downward trend over the same period. While the share of China (+13 p.p.), Australia (+13 p.p.), Singapore (+3.2 p.p.) and Thailand (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-31.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest motor boat supplier in Asia-Pacific, comprising 56% of total exports. The second position in the ranking was held by China ($X), with a 23% share of total exports. It was followed by New Zealand, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in Australia totaled +10.9%. In the other countries, the average annual rates were as follows: China (+27.5% per year) and New Zealand (+9.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, shrinking by -39.7% against the previous year. In general, the export price, however, recorded strong growth. The pace of growth appeared the most rapid in 2013 when the export price increased by 120%. The level of export peaked at $X per unit in 2020, and then contracted sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per unit), while Japan ($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 (+12.4%), while the other leaders experienced more modest paces of growth.

Motor Boat Imports

Imports in Asia-Pacific

In 2021, after three years of growth, there was significant decline in overseas purchases of motor boats and motor yachts, for pleasure or sports, when their volume decreased by -27.3% to X units. Overall, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 435% against the previous year. As a result, imports attained the peak of X units, and then declined significantly in the following year.

In value terms, motor boat imports skyrocketed to $X in 2021. In general, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 86% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

Marshall Islands represented the key importer of motor boats and motor yachts, for pleasure or sports in Asia-Pacific, with the volume of imports resulting at X units, which was near 66% of total imports in 2021. Hong Kong SAR (X units) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Palau (10%). The following importers - New Zealand (X units) and China (X units) - each finished at a 5.7% share of total imports.

Marshall Islands was also the fastest-growing in terms of the motor boats and motor yachts, for pleasure or sports imports, with a CAGR of +126.6% from 2012 to 2021. At the same time, Palau (+79.1%), New Zealand (+10.1%), China (+5.2%) and Hong Kong SAR (+2.7%) displayed positive paces of growth. While the share of Marshall Islands (+65 p.p.) and Palau (+9.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of New Zealand (-3.4 p.p.), China (-5.5 p.p.) and Hong Kong SAR (-38.1 p.p.) displayed negative dynamics.

In value terms, Marshall Islands ($X) constitutes the largest market for imported motor boats and motor yachts, for pleasure or sports in Asia-Pacific, comprising 51% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by New Zealand, with a 5.6% share.

In Marshall Islands, motor boat imports increased at an average annual rate of +62.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (+5.1% per year) and New Zealand (+14.4% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, increasing by 66% against the previous year. Overall, the import price, however, continues to indicate a deep setback. The growth pace was the most rapid in 2017 an increase of 69% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per unit), while Palau ($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 (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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