GCC: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in GCC

The GCC water-skis and surfboards market amounted to $X in 2022, increasing by 4% against the previous year. In general, consumption enjoyed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Water-Skis And Surfboards Production in GCC

In value terms, water-skis and surfboards production rose sharply to $X in 2022 estimated in export price. In general, production showed a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 83% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Water-Skis And Surfboards Exports

Exports in GCC

In 2022, shipments abroad of water-skis, surfboards and sailboards decreased by -8.2% to X units for the first time since 2019, thus ending a two-year rising trend. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +14.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 48% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, water-skis and surfboards exports shrank significantly to $X in 2022. Over the period under review, exports, however, enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2021 with an increase of 49%. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X units, which was approx. 93% of total exports in 2022. It was distantly followed by Kuwait (X units), making up a 6% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +2.0% from 2012 to 2022. At the same time, Kuwait (+32.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +32.3% from 2012-2022. Kuwait (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -5.1% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest water-skis and surfboards supplier in GCC, comprising 98% of total exports. The second position in the ranking was held by Kuwait ($X), with a 1.5% share of total exports.

In the United Arab Emirates, water-skis and surfboards exports expanded at an average annual rate of +2.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, dropping by -9.6% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 42% against the previous year. The level of export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Kuwait stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.9%).

Water-Skis And Surfboards Imports

Imports in GCC

In 2022, the amount of water-skis, surfboards and sailboards imported in GCC amounted to X units, approximately mirroring 2021. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +32.8% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 76% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, water-skis and surfboards imports declined significantly to $X in 2022. Total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 98% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then declined sharply in the following year.

Imports by Country

The United Arab Emirates represented the major importer of water-skis, surfboards and sailboards in GCC, with the volume of imports recording X units, which was near 55% of total imports in 2022. Kuwait (X units) took a 33% share (based on physical terms) of total imports, which put it in second place, followed by Bahrain (5.6%). The following importers - Oman (X units) and Qatar (X units) - each accounted for a 6.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +49.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported water-skis, surfboards and sailboards in GCC, comprising 61% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 21% share of total imports. It was followed by Qatar, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +6.5%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+7.1% per year) and Qatar (+20.2% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, which is down by -30.9% against the previous year. Over the period under review, the import price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2018 an increase of 46% against the previous year. Over the period under review, import prices attained the peak figure 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 Qatar ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform