Vietnam: Sailboat Market 2024

Sailboat Market Size in Vietnam

For the third consecutive year, the Vietnamese sailboat market recorded decline in sales value, which decreased by -6.6% to $X in 2021. Over the period under review, consumption, however, saw a noticeable reduction. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Sailboat Production in Vietnam

In value terms, sailboat production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild decrease. The pace of growth was the most pronounced in 2013 with an increase of 34%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Sailboat Exports

Exports from Vietnam

Sailboat exports from Vietnam reduced to X units in 2021, which is down by -7.2% on the year before. Over the period under review, exports, however, continue to indicate a moderate expansion. The growth pace was the most rapid in 2016 with an increase of 132% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, sailboat exports contracted remarkably to $X in 2021. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 85%. Over the period under review, the exports hit record highs at $X in 2020, and then reduced markedly in the following year.

Exports by Country

Spain (X units) was the main destination for sailboat exports from Vietnam, accounting for a 24% share of total exports. Moreover, sailboat exports to Spain exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Canada (X units), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +30.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-2.8% per year) and Canada (-8.8% per year).

In value terms, the United States ($X) remains the key foreign market for sailboats for pleasure or sports, with or without auxiliary motor exports from Vietnam, comprising 48% of total exports. The second position in the ranking was held by Spain ($X), with a 14% share of total exports. It was followed by Australia, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+45.1% per year) and Australia (-0.7% per year).

Export Prices by Country

In 2021, the average sailboat export price amounted to $X per unit, falling by -10.8% against the previous year. In general, the export price, however, showed a resilient expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 89% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to France ($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 the United States (+29.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sailboat Imports

Imports into Vietnam

In 2021, the amount of sailboats for pleasure or sports, with or without auxiliary motor imported into Vietnam declined markedly to X units, reducing by -42.9% against the previous year's figure. In general, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 4,134% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, sailboat imports declined sharply to $X in 2021. Over the period under review, imports saw a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 21,895% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X units), Australia (X units) and Japan (X units) were the main suppliers of sailboat imports to Vietnam, together accounting for 91% of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +36.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of sailboats for pleasure or sports, with or without auxiliary motor to Vietnam, comprising 38% of total imports. The second position in the ranking was held by Australia ($X), with an 18% share of total imports. It was followed by Singapore, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from France totaled +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-17.0% per year) and Singapore (-12.5% per year).

Import Prices by Country

In 2021, the average sailboat import price amounted to $X per unit, increasing by 42% against the previous year. Over the period under review, the import price, however, recorded a precipitous contraction. The most prominent rate of growth was recorded in 2017 an increase of 4,180%. The import price peaked at $X per unit in 2015; however, from 2016 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 Singapore ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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