Report Update Nov 1, 2024

Republic of Korea - Motor Boats and Motor Yachts, for Pleasure or Sports - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Motor Boat Market 2024

Motor Boat Market Size in Republic of Korea

In 2021, the South Korean motor boat market decreased by -9.9% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded significant growth. Over the period under review, the market reached the peak level at $X in 2020, and then shrank in the following year.

Motor Boat Exports

Exports from Republic of Korea

In 2019, the amount of motor boats and motor yachts, for pleasure or sports exported from South Korea fell dramatically to X units, with a decrease of -72.7% against 2018. Overall, exports saw a sharp contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 380% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2019, the exports stood at a somewhat lower figure.

In value terms, motor boat exports shrank notably to $X in 2019. In general, exports faced a precipitous descent. The growth pace was the most rapid in 2017 when exports increased by 279% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2019, the exports stood at a somewhat lower figure.

Exports by Country

From 2012 to 2021, the average annual growth rate of volume to No country was relatively modest.

In value terms, China ($X), the Philippines ($X) and Thailand ($X) appeared to be the largest markets for motor boat exported from South Korea worldwide, with a combined 27% share of total exports. These countries were followed by Egypt, Russia and Canada, which together accounted for a further 1.2%.

Among the main countries of destination, Egypt, with a CAGR of -32.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average motor boat export price stood at $X per unit in 2019, surging by 48% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2019: its price increased at an average annual rate of +7.0% over the last seven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, motor boat export price increased by +89.7% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+29.3%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Boat Imports

Imports into Republic of Korea

In 2021, after two years of growth, there was significant decline in overseas purchases of motor boats and motor yachts, for pleasure or sports, when their volume decreased by -24% to X units. Over the period under review, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 365%. Imports peaked at X units in 2020, and then reduced dramatically in the following year.

In value terms, motor boat imports skyrocketed to $X in 2021. Overall, imports, however, saw a strong expansion. The growth pace was the most rapid in 2014 when imports increased by 87% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

China (X units), the United States (X units) and France (X units) were the main suppliers of motor boat imports to South Korea, with a combined 62% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +79.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of motor boats and motor yachts, for pleasure or sports to South Korea, comprising 19% of total imports. The second position in the ranking was held by France ($X), with a 2.7% share of total imports. It was followed by Japan, with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+16.0% per year) and Japan (-1.4% per year).

Import Prices by Country

The average motor boat import price stood at $X per unit in 2021, surging by 82% against the previous year. Overall, the import price, however, recorded a noticeable decline. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+34.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for motor boats and motor yachts, for pleasure or sports in the world?

The countries with the highest volumes of motor boat consumption in 2020 were China, the United States and India, together accounting for 33% of global consumption. These countries were followed by Russia, Japan, Seychelles, Mexico, Indonesia, Brazil, Germany, Ethiopia, Hong Kong SAR and Dominica, which together accounted for a further 29%.

What are the largest producers of motor boats and motor yachts, for pleasure or sports in the world?

The countries with the highest volumes of motor boat production in 2020 were China, the United States and India, with a combined 37% share of global production. These countries were followed by Russia, Japan, Mexico, Indonesia, Brazil, Italy, the UK, Ethiopia, Germany and the Netherlands, which together accounted for a further 31%.

What are the leading suppliers of motor boats and motor yachts, for pleasure or sports to Republic of Korea?

In value terms, the largest motor boat suppliers to South Korea were the United States, Italy and France, together accounting for 74% of total imports. These countries were followed by Germany, Japan and Spain, which together accounted for a further 21%.

What are the leading importers of motor boats and motor yachts, for pleasure or sports from Republic of Korea?

In value terms, the Philippines, Japan and the United States constituted the largest markets for motor boat exported from South Korea worldwide, together comprising 97% of total exports.

What is the average export price for motor boats and motor yachts, for pleasure or sports in Republic of Korea?

In 2019, the average motor boat export price amounted to $23,902 per unit, increasing by 18% against the previous year.

What is the average import price for motor boats and motor yachts, for pleasure or sports in Republic of Korea?

The average motor boat import price stood at $17,486 per unit in 2020, rising by 14% against the previous year.

This report provides an in-depth analysis of the motor boat market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 30121930 - Motor boats and motor yachts, for pleasure or sports (excluding outboard motor boats)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023