Asia-Pacific: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Asia-Pacific

In 2022, the Asia-Pacific water-skis and surfboards market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Water-Skis And Surfboards Production in Asia-Pacific

In value terms, water-skis and surfboards production shrank to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.4% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by 30%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Water-Skis And Surfboards Exports

Exports in Asia-Pacific

In 2022, the amount of water-skis, surfboards and sailboards exported in Asia-Pacific shrank notably to X units, which is down by -54.5% compared with the year before. Overall, exports, however, recorded temperate growth. The pace of growth was the most pronounced in 2016 with an increase of 281%. The volume of export peaked at X units in 2021, and then shrank notably in the following year.

In value terms, water-skis and surfboards exports contracted to $X in 2022. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 92% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

China dominates exports structure, resulting at X units, which was near 85% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), creating a 5.8% share of total exports. Thailand (X units) and Sri Lanka (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to water-skis and surfboards exports from China stood at +2.2%. At the same time, Sri Lanka (+8.5%) and Taiwan (Chinese) (+6.1%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.5% from 2012-2022. By contrast, Thailand (-2.3%) illustrated a downward trend over the same period. Taiwan (Chinese) (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -1.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest water-skis and surfboards supplier in Asia-Pacific, comprising 81% of total exports. The second position in the ranking was taken by Thailand ($X), with a 5.1% share of total exports. It was followed by Taiwan (Chinese), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +17.1%. In the other countries, the average annual rates were as follows: Thailand (+1.0% per year) and Taiwan (Chinese) (+5.7% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, surging by 102% against the previous year. Over the period under review, the export price showed a buoyant increase. The growth pace was the most rapid in 2014 when the export price increased by 176% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.6%), while the other leaders experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports in Asia-Pacific

In 2022, approx. X units of water-skis, surfboards and sailboards were imported in Asia-Pacific; therefore, remained relatively stable against 2021. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.9% against 2020 indices. The pace of growth was the most pronounced in 2016 when imports increased by 39%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, water-skis and surfboards imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X, and then contracted slightly in the following year.

Imports by Country

Australia represented the largest importing country with an import of about X units, which resulted at 35% of total imports. Japan (X units) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (10%), Indonesia (9.6%) and New Zealand (8.7%). Malaysia (X units), Hong Kong SAR (X units), Thailand (X units), Singapore (X units), China (X units), Taiwan (Chinese) (X units) and India (X units) held a relatively small share of total imports.

Australia experienced a relatively flat trend pattern with regard to volume of imports of water-skis, surfboards and sailboards. At the same time, Indonesia (+23.0%), Malaysia (+15.2%), South Korea (+9.9%), Thailand (+7.9%), New Zealand (+7.0%), India (+6.2%), Taiwan (Chinese) (+6.2%), Japan (+5.1%) and Singapore (+1.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +23.0% from 2012-2022. By contrast, China (-6.2%) and Hong Kong SAR (-12.3%) illustrated a downward trend over the same period. Indonesia (+8.1 p.p.), South Korea (+5.2 p.p.), New Zealand (+3.2 p.p.), Malaysia (+3.1 p.p.) and Japan (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while China, Australia and Hong Kong SAR saw its share reduced by -3.1%, -6.1% and -14.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported water-skis, surfboards and sailboards in Asia-Pacific, comprising 38% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by New Zealand, with a 9.3% share.

In Australia, water-skis and surfboards imports increased at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+5.2% per year) and New Zealand (+9.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, shrinking by -2% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, water-skis and surfboards import price increased by +87.5% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by 39%. The level of import peaked at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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