Thailand: Motor Boat Market 2024

Motor Boat Market Size in Thailand

The Thai motor boat market totaled $X in 2021, increasing by 4.1% against the previous year. Over the period under review, consumption, however, showed a slight shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Motor Boat Production in Thailand

In value terms, motor boat production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild setback. The growth pace was the most rapid in 2018 with an increase of 38%. Motor boat production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Motor Boat Exports

Exports from Thailand

In 2021, the amount of motor boats and motor yachts, for pleasure or sports exported from Thailand surged to X units, increasing by 97% on 2020 figures. Overall, exports posted a significant increase. The growth pace was the most rapid in 2015 when exports increased by 979% against the previous year. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, motor boat exports soared to $X in 2021. In general, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units) was the main destination for motor boat exports from Thailand, with a 53% share of total exports. Moreover, motor boat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Cambodia (X units), threefold. The United States (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR amounted to +80.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+61.5% per year) and the United States (+40.3% per year).

In value terms, Hong Kong SAR ($X), Australia ($X) and Cambodia ($X) were the largest markets for motor boat exported from Thailand worldwide, together accounting for 37% of total exports.

Cambodia, with a CAGR of +89.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average motor boat export price amounted to $X per unit, picking up by 111% against the previous year. In general, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of 155%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-1.0%), while the prices for the other major destinations experienced a decline.

Motor Boat Imports

Imports into Thailand

In 2021, supplies from 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. In general, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 302%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, motor boat imports reduced markedly to $X in 2021. Overall, imports, however, faced a deep setback. The pace of growth was the most pronounced in 2018 when imports increased by 358% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of motor boat to Thailand, accounting for a 63% share of total imports. Moreover, motor boat imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. France (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to +35.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.3% per year) and France (+31.8% per year).

In value terms, the United States ($X) constituted the largest supplier of motor boats and motor yachts, for pleasure or sports to Thailand, comprising 44% of total imports. The second position in the ranking was held by France ($X), with a 19% share of total imports. It was followed by Japan, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+36.4% per year) and Japan (+6.9% per year).

Import Prices by Country

The average motor boat import price stood at $X per unit in 2021, waning by -59.1% against the previous year. Over the period under review, the import price showed a abrupt downturn. The pace of growth was the most pronounced in 2015 an increase of 66% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat 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 France ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Seychelles (+180,842.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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