Asia: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Asia

The Asian water-skis and surfboards market was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

Water-Skis And Surfboards Production in Asia

In value terms, water-skis and surfboards production reduced to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -3.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Water-Skis And Surfboards Exports

Exports in Asia

Water-skis and surfboards exports declined significantly to X units in 2022, waning by -54.4% compared with 2021. Over the period under review, exports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2016 with an increase of 280%. The volume of export peaked at X units in 2021, and then reduced sharply in the following year.

In value terms, water-skis and surfboards exports contracted to $X in 2022. In general, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 92% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 85% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), comprising a 5.8% share of total exports. Thailand (X units) and Sri Lanka (X units) followed a long way behind the leaders.

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

In China, water-skis and surfboards exports expanded at an average annual rate of +17.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+1.0% per year) and Taiwan (Chinese) (+5.7% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by 101% against the previous year. Over the period under review, the export price posted a resilient expansion. The pace of growth appeared the most rapid in 2014 an increase of 173% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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

Water-skis and surfboards imports reduced modestly to X units in 2022, waning by -2.7% on the previous year. Total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports increased by +9.0% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 38% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, water-skis and surfboards imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 37%. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Japan (X units), South Korea (X units) and Indonesia (X units) represented roughly 38% of total imports in 2022. Turkey (X units) ranks next in terms of the total imports with a 6.5% share, followed by the United Arab Emirates (6.4%), Malaysia (5.6%), Israel (5.2%) and Hong Kong SAR (5%). Kazakhstan (X units), Thailand (X units), Singapore (X units), Kuwait (X units) and China (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +23.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported water-skis, surfboards and sailboards in Asia, comprising 25% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Israel, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to +5.2%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+6.0% per year) and Israel (+15.1% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, waning by -4.9% against the previous year. Overall, the import price showed a slight contraction. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 ($X per unit), while Kazakhstan ($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 (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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