China: Motor Boat Market 2022

Motor Boat Market Size in China

After three years of growth, the Chinese motor boat market decreased by -X% to $X in 2021. Overall, consumption saw a noticeable reduction. Motor boat consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Motor Boat Production in China

In value terms, motor boat production shrank to $X in 2021 estimated in export price. In general, production saw a pronounced slump. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Motor boat production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Motor Boat Exports

Exports from China

In 2021, shipments 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. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor boat exports surged to $X in 2021. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X units) was the main destination for motor boat exports from China, with a X% share of total exports. Moreover, motor boat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Denmark (X units), fourfold. The third position in this ranking was held by the United States (X units), with an X% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+X% per year) and the United States (+X% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for motor boat exported from China worldwide, with a combined X% share of total exports. These countries were followed by Australia, Turkey, Canada, Denmark, Germany, the Philippines and South Korea, which together accounted for a further X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, among 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

The average motor boat export price stood at $X per unit in 2021, falling by -X% against the previous year. In general, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to South Korea ($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 UK (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Boat Imports

Imports into China

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. Over the period under review, imports showed temperate growth. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, motor boat imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a abrupt contraction. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

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

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and Japan (-X% per year).

In value terms, the largest motor boat suppliers to China were the United States ($X), Mexico ($X) and Australia ($X), together accounting for X% of total imports.

Mexico, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average motor boat import price stood at $X per unit in 2021, dropping by -X% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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