China: Motor Boat Market 2024

Motor Boat Market Size in China

In 2021, after three years of growth, there was decline in the Chinese motor boat market, when its value decreased by -1.3% to $X. Overall, consumption, however, showed a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 7.9%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Motor Boat Production in China

In value terms, motor boat production shrank slightly to $X in 2021 estimated in export price. In general, production, however, saw a drastic downturn. The growth pace was the most rapid in 2019 when the production volume increased by 11%. Motor boat production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Motor Boat Exports

Exports from China

After three years of decline, shipments abroad of motor boats and motor yachts, for pleasure or sports increased by 111% to X units in 2021. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 with an increase of 710% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor boat exports soared to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 414% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for motor boat exports from China, accounting for a 59% share of total exports. Moreover, motor boat exports to the UK exceeded the volume sent to the second major destination, Turkey (X units), fivefold. The third position in this ranking was held by the United States (X units), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +132.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+60.3% per year) and the United States (+15.7% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for motor boat exported from China worldwide, with a combined 86% share of total exports. Australia, Turkey, Canada, Denmark, the United Arab Emirates, Cambodia, France and Thailand lagged somewhat behind, together comprising a further 12%.

In terms of the main countries of destination, Denmark, with a CAGR of +88.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average motor boat export price stood at $X per unit in 2021, which is down by -25.3% against the previous year. In general, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 54%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Boat Imports

Imports into China

Motor boat imports into China soared to X units in 2021, jumping by 30% compared with 2020 figures. In general, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 669% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, motor boat imports soared to $X in 2021. Over the period under review, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 308%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X units) constituted the largest supplier of motor boat to China, accounting for a 72% share of total imports. Moreover, motor boat imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Japan (X units), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico totaled +110.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.0% per year) and Japan (-14.7% per year).

In value terms, the United States ($X), Mexico ($X) and Australia ($X) appeared to be the largest motor boat suppliers to China, with a combined 68% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +87.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average motor boat import price stood at $X per unit in 2021, rising by 8.7% against the previous year. In general, the import price, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2017 an increase of 45% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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