Kuwait: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Kuwait

The Kuwaiti inflatable vessel market was estimated at less than $X in 2021, remaining constant against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern.

Inflatable Vessel Production in Kuwait

In value terms, inflatable vessel production shrank notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2016 with an increase of 174%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Inflatable Vessel Exports

Exports from Kuwait

In 2021, after five years of growth, there was decline in overseas shipments of inflatable vessels for pleasure or sports, when their volume decreased by -3.1% to X units. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 2,800%. Over the period under review, the exports reached the maximum at X units in 2020, and then fell in the following year.

In value terms, inflatable vessel exports totaled $X in 2021. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 3,714%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X units) was the main destination for inflatable vessel exports from Kuwait, accounting for a 75% share of total exports. Moreover, inflatable vessel exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +83.1%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for inflatable vessels for pleasure or sports exports from Kuwait, comprising 19% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +94.0%.

Export Prices by Country

In 2021, the average inflatable vessel export price amounted to $X per unit, increasing by 3.9% against the previous year. Overall, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 580% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.5%).

Inflatable Vessel Imports

Imports into Kuwait

In 2021, overseas purchases of inflatable vessels for pleasure or sports increased by 2.7% to X units, rising for the fourth year in a row after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 338% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, inflatable vessel imports rose remarkably to $X in 2021. Over the period under review, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 393%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Italy (X units), Russia (X units) and China (X units) were the main suppliers of inflatable vessel imports to Kuwait, with a combined 66% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of inflatable vessels for pleasure or sports to Kuwait, comprising 43% of total imports. The second position in the ranking was held by Italy ($X), with a 17% share of total imports. It was followed by China, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +62.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+33.8% per year) and China (+5.5% per year).

Import Prices by Country

In 2021, the average inflatable vessel import price amounted to $X per unit, growing by 12% against the previous year. Overall, the import price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 when the average import price increased by 107%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+29.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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