Southern Asia: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Southern Asia

In 2022, the South Asian water-skis and surfboards market decreased by -0.2% to $X, falling for the second consecutive year after five years of growth. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.9% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Water-Skis And Surfboards Production in Southern Asia

In value terms, water-skis and surfboards production amounted to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.1% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Water-Skis And Surfboards Exports

Exports in Southern Asia

In 2022, shipments abroad of water-skis, surfboards and sailboards increased by 48% to X units, rising for the fifth consecutive year after four years of decline. Over the period under review, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of 52%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, water-skis and surfboards exports fell to $X in 2022. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Sri Lanka prevails in exports structure, recording X units, which was near 95% of total exports in 2022. It was distantly followed by India (X units), generating a 5.4% share of total exports.

Sri Lanka was also the fastest-growing in terms of the water-skis, surfboards and sailboards exports, with a CAGR of +8.5% from 2012 to 2022. India (-5.9%) illustrated a downward trend over the same period. While the share of Sri Lanka (+14 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-13.8 p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X) remains the largest water-skis and surfboards supplier in Southern Asia, comprising 95% of total exports. The second position in the ranking was held by India ($X), with a 5.1% share of total exports.

In Sri Lanka, water-skis and surfboards exports increased at an average annual rate of +9.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, which is down by -42.1% against the previous year. Over the period under review, the export price, however, recorded modest growth. The pace of growth appeared the most rapid in 2017 an increase of 49%. The level of export peaked at $X per unit in 2021, and then shrank significantly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while India stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.1%).

Water-Skis And Surfboards Imports

Imports in Southern Asia

In 2022, the amount of water-skis, surfboards and sailboards imported in Southern Asia fell dramatically to X units, waning by -23.2% against 2021. Over the period under review, imports, however, continue to indicate a measured expansion. The pace of growth was the most pronounced in 2021 with an increase of 63%. As a result, imports reached the peak of X units, and then reduced notably in the following year.

In value terms, water-skis and surfboards imports reduced remarkably to $X in 2022. In general, imports, however, posted prominent growth. The growth pace was the most rapid in 2021 with an increase of 72% against the previous year. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

India was the main importing country with an import of about X units, which recorded 58% of total imports. Maldives (X units) took the second position in the ranking, distantly followed by Bangladesh (X units). All these countries together held approx. 35% share of total imports. The following importers - Sri Lanka (X units) and Nepal (X units) - each recorded a 6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to water-skis and surfboards imports into India stood at +6.2%. At the same time, Bangladesh (+12.9%), Nepal (+6.5%) and Maldives (+3.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +12.9% from 2012-2022. By contrast, Sri Lanka (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Bangladesh increased by +8.2 and +5.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported water-skis, surfboards and sailboards in Southern Asia, comprising 59% of total imports. The second position in the ranking was held by Maldives ($X), with a 28% share of total imports. It was followed by Bangladesh, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +8.1%. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (+4.6% per year) and Bangladesh (+8.6% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, declining by -4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2015 when the import price increased by 8.8% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Maldives ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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