Thailand: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Thailand

In 2022, the Thai water-skis and surfboards market decreased by -15.4% to $X, falling for the second year in a row after five years of growth. Overall, consumption, however, continues to indicate a pronounced increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Water-Skis And Surfboards Production in Thailand

In value terms, water-skis and surfboards production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 21% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Water-Skis And Surfboards Exports

Exports from Thailand

In 2022, shipments abroad of water-skis, surfboards and sailboards increased by 34% to X units, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, recorded a pronounced setback. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, water-skis and surfboards exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 45% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for water-skis and surfboards exports from Thailand, with a 73% share of total exports. Moreover, water-skis and surfboards exports to the United States exceeded the volume sent to the second major destination, France (X units), more than tenfold. The third position in this ranking was held by Germany (X units), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-3.5% per year) and Germany (-11.1% per year).

In value terms, the United States ($X) remains the key foreign market for water-skis, surfboards and sailboards exports from Thailand, comprising 38% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.6% share of total exports. It was followed by Australia, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.2% per year) and Australia (-0.5% per year).

Export Prices by Country

In 2022, the average water-skis and surfboards export price amounted to $X per unit, dropping by -15.8% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 an increase of 28%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+36.0%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into Thailand

For the third consecutive year, Thailand recorded growth in purchases abroad of water-skis, surfboards and sailboards, which increased by 2.4% to X units in 2022. Overall, imports saw a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of 50%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, water-skis and surfboards imports contracted rapidly to $X in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 112%. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest water-skis and surfboards supplier to Thailand, with a 67% share of total imports. Moreover, water-skis and surfboards imports from China exceeded the figures recorded by the second-largest supplier, Australia (X units), sevenfold. The third position in this ranking was held by the United States (X units), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+17.9% per year) and the United States (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of water-skis, surfboards and sailboards to Thailand, comprising 52% of total imports. The second position in the ranking was taken by the United States ($X), with a 6.7% share of total imports. It was followed by Australia, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.1% per year) and Australia (+12.4% per year).

Import Prices by Country

The average water-skis and surfboards import price stood at $X per unit in 2022, dropping by -22.4% against the previous year. Overall, the import price continues to indicate a mild setback. The pace of growth was the most pronounced in 2021 when the average import price increased by 100%. As a result, import price reached the peak level of $X per unit, and then declined sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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