India: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in India

The Indian water-skis and surfboards market reached $X in 2022, with an increase of 1.8% against the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.8% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Water-Skis And Surfboards Production in India

In value terms, water-skis and surfboards production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 -2.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 46% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Water-Skis And Surfboards Exports

Exports from India

In 2022, the amount of water-skis, surfboards and sailboards exported from India shrank modestly to X units, falling by -2.6% against 2021 figures. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 76%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, water-skis and surfboards exports fell significantly to $X in 2022. Over the period under review, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 when exports increased by 109% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for water-skis and surfboards exports from India, with a 33% share of total exports. Moreover, water-skis and surfboards exports to the United States exceeded the volume sent to the second major destination, Kuwait (X units), threefold. Norway (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-0.1% per year) and Norway (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for water-skis, surfboards and sailboards exports from India, comprising 33% of total exports. The second position in the ranking was held by Kuwait ($X), with an 11% share of total exports. It was followed by Norway, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+3.0% per year) and Norway (0.0% per year).

Export Prices by Country

The average water-skis and surfboards export price stood at $X per unit in 2022, falling by -15.5% against the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, water-skis and surfboards export price increased by +90.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 63%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then fell remarkably in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per unit) and Algeria ($X per unit), while the average price for exports to Kuwait ($X per unit) and Finland ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into India

For the fifth consecutive year, India recorded growth in supplies from abroad of water-skis, surfboards and sailboards, which increased by 2.7% to X units in 2022. Overall, imports recorded resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by 107% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, water-skis and surfboards imports contracted to $X in 2022. Over the period under review, imports saw a prominent increase. The growth pace was the most rapid in 2016 with an increase of 77%. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X units) constituted the largest water-skis and surfboards supplier to India, with a 69% share of total imports. Moreover, water-skis and surfboards imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+12.0% per year) and the United States (-13.7% per year).

In value terms, China ($X) constituted the largest supplier of water-skis, surfboards and sailboards to India, comprising 70% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.8% share of total imports. It was followed by the United States, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+14.5% per year) and the United States (-12.0% per year).

Import Prices by Country

In 2022, the average water-skis and surfboards import price amounted to $X per unit, declining by -5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2020 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :