Southern Asia: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Southern Asia

After five years of growth, the South Asian inflatable vessel market decreased by -11.3% to $X in 2021. Over the period under review, consumption, however, showed a resilient expansion. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Inflatable Vessel Production in Southern Asia

In value terms, inflatable vessel production declined to $X in 2021 estimated in export price. Overall, production, however, recorded a resilient expansion. The growth pace was the most rapid in 2019 when the production volume increased by 61%. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Inflatable Vessel Exports

Exports in Southern Asia

In 2021, overseas shipments of inflatable vessels for pleasure or sports increased by 283% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports showed a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 17,955% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, inflatable vessel exports surged to $X in 2021. Over the period under review, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Sri Lanka (X units) was the major exporter of inflatable vessels for pleasure or sports, creating 70% of total exports. India (X units) ranks second in terms of the total exports with a 24% share, followed by Pakistan (5.4%).

Sri Lanka was also the fastest-growing in terms of the inflatable vessels for pleasure or sports exports, with a CAGR of +20.4% from 2012 to 2021. At the same time, India (+8.0%) displayed positive paces of growth. By contrast, Pakistan (-12.7%) illustrated a downward trend over the same period. While the share of Sri Lanka (+40 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-3.6 p.p.) and Pakistan (-37.1 p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X), India ($X) and Pakistan ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 97% of total exports.

India, with a CAGR of +30.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, with a decrease of -4.5% against the previous year. In general, the export price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the export price increased by 10,703% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+20.9%), while the other leaders experienced mixed trends in the export price figures.

Inflatable Vessel Imports

Imports in Southern Asia

In 2021, the amount of inflatable vessels for pleasure or sports imported in Southern Asia shrank significantly to X units, dropping by -46.4% against 2020. Over the period under review, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 143% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, inflatable vessel imports rose significantly to $X in 2021. In general, imports, however, saw a notable expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 82%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

Pakistan (X units), Maldives (X units) and Bangladesh (X units) represented roughly 78% of total imports in 2021. India (X units) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (7.2%). Nepal (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +12.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest inflatable vessel importing markets in Southern Asia were Bangladesh ($X), Pakistan ($X) and Sri Lanka ($X), with a combined 82% share of total imports.

In terms of the main importing countries, Pakistan, with a CAGR of +26.3%, recorded 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

The import price in Southern Asia stood at $X per unit in 2021, rising by 99.9% against the previous year. In general, the import price posted a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Sri Lanka ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+20.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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