Eastern Asia: Motor Boat Market 2024

Motor Boat Market Size in Eastern Asia

In 2021, the East Asian motor boat market decreased by -0.5% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, saw a abrupt decrease. The growth pace was the most rapid in 2019 when the market value increased by 8.8% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Motor Boat Production in Eastern Asia

In value terms, motor boat production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 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 Eastern Asia

In 2021, overseas shipments of motor boats and motor yachts, for pleasure or sports increased by 163% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, saw a deep reduction. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor boat exports surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 321%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Japan (X units) was the largest exporter of motor boats and motor yachts, for pleasure or sports, making up 79% of total exports. It was distantly followed by China (X units), generating a 21% share of total exports.

Exports from Japan decreased at an average annual rate of -10.7% from 2012 to 2021. At the same time, China (+36.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +36.8% from 2012-2021. While the share of China (+20 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-17.1 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest motor boat supplier in Eastern Asia, comprising 82% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +27.5%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, which is down by -55.4% against the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2016 when the export price increased by 310%. The level of export peaked at $X per unit in 2020, and then declined significantly in the following year.

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 Japan stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.8%).

Motor Boat Imports

Imports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded growth in supplies from abroad of motor boats and motor yachts, for pleasure or sports, which increased by 38% to X units in 2021. Overall, imports showed a perceptible expansion. The pace of growth was the most pronounced in 2016 with an increase of 59% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, motor boat imports skyrocketed to $X in 2021. Total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +135.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 31%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Hong Kong SAR represented the key importer of motor boats and motor yachts, for pleasure or sports in Eastern Asia, with the volume of imports recording X units, which was near 79% of total imports in 2021. It was distantly followed by China (X units), creating a 15% share of total imports. The following importers - South Korea (X units) and Japan (X units) - together made up 5.6% of total imports.

From 2012 to 2021, average annual rates of growth with regard to motor boat imports into Hong Kong SAR stood at +2.7%. At the same time, South Korea (+19.1%) and China (+5.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +19.1% from 2012-2021. Japan experienced a relatively flat trend pattern. From 2012 to 2021, the share of South Korea and China increased by +2.5 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported motor boats and motor yachts, for pleasure or sports in Eastern Asia, comprising 74% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by China, with an 8.6% share.

In Hong Kong SAR, motor boat imports increased at an average annual rate of +5.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+10.5% per year) and China (-14.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, reducing by -12% against the previous year. In general, the import price showed a slight reduction. The most prominent rate of growth was recorded in 2017 an increase of 30% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 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 Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+10.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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