Latin America and the Caribbean: Motor Boat Market 2025

Motor Boat Market Size in Latin America and the Caribbean

In 2021, the Latin American motor boat market decreased by -9.2% to $X, falling for the second year in a row after two years of growth. In general, consumption continues to indicate a slight slump. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Motor Boat Production in Latin America and the Caribbean

In value terms, motor boat production expanded markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 40% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Motor Boat Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of motor boats and motor yachts, for pleasure or sports was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 459% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, motor boat exports surged to $X in 2021. In general, exports, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2016 when exports increased by 383% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mexico (X units) represented roughly 98% of total exports in 2021.

Mexico was also the fastest-growing in terms of the motor boats and motor yachts, for pleasure or sports exports, with a CAGR of +36.4% from 2012 to 2021. Mexico (+50 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest motor boat supplier in Latin America and the Caribbean.

In Mexico, motor boat exports expanded at an average annual rate of +30.5% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, increasing by 8.1% against the previous year. In general, the export price, however, recorded a dramatic curtailment. The pace of growth was the most pronounced in 2016 an increase of 84%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to -4.3% per year.

Motor Boat Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of motor boats and motor yachts, for pleasure or sports decreased by -34.7% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 99%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, motor boat imports dropped remarkably to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 105%. 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

Cayman Islands was the largest importer of motor boats and motor yachts, for pleasure or sports in Latin America and the Caribbean, with the volume of imports recording X units, which was approx. 59% of total imports in 2021. Dominica (X units) took the second position in the ranking, distantly followed by Bahamas (X units) and Paraguay (X units). All these countries together held approx. 35% share of total imports. The following importers - the Dominican Republic (X units) and British Virgin Islands (X units) - together made up 4.9% of total imports.

From 2012 to 2021, average annual rates of growth with regard to motor boat imports into Cayman Islands stood at +9.2%. At the same time, Paraguay (+39.1%), Dominica (+26.2%), the Dominican Republic (+21.3%) and Bahamas (+12.0%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +39.1% from 2012-2021. By contrast, British Virgin Islands (-20.2%) illustrated a downward trend over the same period. While the share of Dominica (+15 p.p.), Cayman Islands (+10 p.p.), Paraguay (+5.8 p.p.), Bahamas (+3 p.p.) and the Dominican Republic (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of British Virgin Islands (-26.3 p.p.) displayed negative dynamics.

In value terms, Cayman Islands ($X) constitutes the largest market for imported motor boats and motor yachts, for pleasure or sports in Latin America and the Caribbean, comprising 83% of total imports. The second position in the ranking was held by British Virgin Islands ($X), with a 13% share of total imports. It was followed by Dominica, with a 1.4% share.

In Cayman Islands, motor boat imports expanded at an average annual rate of +10.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: British Virgin Islands (-9.7% per year) and Dominica (+50.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, with an increase of 22% against the previous year. Overall, the import price, however, showed a deep slump. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was British Virgin Islands ($X per unit), while Bahamas ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Dominica (+19.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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