Latin America and the Caribbean: Inflatable Vessel Market 2025

Inflatable Vessel Market Size in Latin America and the Caribbean

In 2021, after five years of growth, there was significant decline in the Latin American inflatable vessel market, when its value decreased by -10.5% to $X. Over the period under review, consumption, however, showed a prominent increase. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Inflatable Vessel Production in Latin America and the Caribbean

In value terms, inflatable vessel production fell to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 33%. The level of production peaked at $X in 2020, and then fell in the following year.

Inflatable Vessel Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of inflatable vessels for pleasure or sports was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 11%. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, inflatable vessel exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 15%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Colombia was the key exporter of inflatable vessels for pleasure or sports in Latin America and the Caribbean, with the volume of exports accounting for X units, which was near 75% of total exports in 2021. It was distantly followed by Mexico (X units), making up an 11% share of total exports. Brazil (X units), Chile (X units), Costa Rica (X units) and Venezuela (X units) held a minor share of total exports.

Exports from Colombia increased at an average annual rate of +5.3% from 2012 to 2021. At the same time, Chile (+9.2%), Brazil (+8.4%) and Costa Rica (+6.8%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +9.2% from 2012-2021. By contrast, Venezuela (-7.8%) and Mexico (-19.6%) illustrated a downward trend over the same period. Colombia (+41 p.p.), Brazil (+2.6 p.p.) and Chile (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -44.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) remains the largest inflatable vessel supplier in Latin America and the Caribbean, comprising 78% of total exports. The second position in the ranking was held by Brazil ($X), with a 5.3% share of total exports. It was followed by Costa Rica, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Colombia stood at +8.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+5.1% per year) and Costa Rica (+9.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, rising by 8.8% against the previous year. Export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, inflatable vessel export price increased by +66.2% against 2017 indices. The growth pace was the most rapid in 2020 an increase of 20%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+2.9%), while the other leaders experienced more modest paces of growth.

Inflatable Vessel Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of inflatable vessels for pleasure or sports were finally on the rise to reach X units after two years of decline. Overall, imports enjoyed a strong increase. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, inflatable vessel imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 117%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Paraguay was the major importing country with an import of about X units, which resulted at 58% of total imports. Panama (X units) ranks second in terms of the total imports with a 15% share, followed by Costa Rica (7.3%) and Bahamas (6.2%). Uruguay (X units), Brazil (X units) and Chile (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to inflatable vessel imports into Paraguay stood at +18.0%. At the same time, Panama (+35.4%), Bahamas (+32.9%) and Costa Rica (+10.7%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +35.4% from 2012-2021. By contrast, Uruguay (-3.2%), Brazil (-7.2%) and Chile (-7.8%) illustrated a downward trend over the same period. While the share of Paraguay (+30 p.p.), Panama (+13 p.p.) and Bahamas (+5.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Chile (-6.2 p.p.), Brazil (-6.9 p.p.) and Uruguay (-7.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X), Brazil ($X) and Bahamas ($X) constituted the countries with the highest levels of imports in 2021, together comprising 48% of total imports.

Among the main importing countries, Bahamas, with a CAGR of +21.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, dropping by -59.6% against the previous year. Over the period under review, the import price saw a abrupt decrease. The growth pace was the most rapid in 2020 an increase of 132%. Over the period under review, import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+17.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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