Eastern Asia: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Eastern Asia

The East Asian water-skis and surfboards market skyrocketed to $X in 2022, increasing by 76% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Water-Skis And Surfboards Production in Eastern Asia

In value terms, water-skis and surfboards production dropped modestly to $X in 2022 estimated in export price. In general, production, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 74% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Water-Skis And Surfboards Exports

Exports in Eastern Asia

In 2022, approx. X units of water-skis, surfboards and sailboards were exported in Eastern Asia; with a decrease of -56.7% compared with the previous year's figure. Overall, exports, however, recorded measured growth. The growth pace was the most rapid in 2016 with an increase of 359%. Over the period under review, the exports reached the maximum at X units in 2021, and then shrank dramatically in the following year.

In value terms, water-skis and surfboards exports dropped to $X in 2022. Over the period under review, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of 100% 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 prevails in exports structure, finishing at X units, which was near 92% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), making up a 6.3% 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, Taiwan (Chinese) (+6.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +6.1% from 2012-2022. From 2012 to 2022, the share of Taiwan (Chinese) increased by +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest water-skis and surfboards supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.4% share of total exports.

In China, water-skis and surfboards exports expanded at an average annual rate of +17.1% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, growing by 110% against the previous year. Overall, the export price enjoyed prominent growth. The pace of growth appeared the most rapid in 2014 when the export price increased by 228% 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 remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Taiwan (Chinese) totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.6%).

Water-Skis And Surfboards Imports

Imports in Eastern Asia

In 2022, overseas purchases of water-skis, surfboards and sailboards decreased by -1.5% to X units, falling for the fifth consecutive year after two years of growth. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 46% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, water-skis and surfboards imports shrank to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 37% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units) and South Korea (X units) represented the largest importers of water-skis, surfboards and sailboards in 2022, accounting for near 37% and 34% of total imports, respectively. Hong Kong SAR (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by China (7.7%) and Taiwan (Chinese) (6.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +9.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported water-skis, surfboards and sailboards in Eastern Asia, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by Hong Kong SAR, with a 13% share.

In Japan, water-skis and surfboards imports expanded at an average annual rate of +5.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+6.0% per year) and Hong Kong SAR (-11.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, shrinking by -4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 32% against the previous year. As a result, import price attained the peak level of $X per unit, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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