Estonia: Motor Boat Market 2024

Motor Boat Market Size in Estonia

After three years of growth, the Estonian motor boat market decreased by X% to less than $X in 2022. Over the period under review, consumption, however, saw moderate growth. Over the period under review, the market reached the peak level at $X in 2021, and then fell dramatically in the following year.

Motor Boat Production in Estonia

In value terms, motor boat production surged to $X in 2022 estimated in export price. In general, production recorded notable growth. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Motor boat production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Motor Boat Exports

Exports from Estonia

In 2021, the amount of motor boats and motor yachts, for pleasure or sports exported from Estonia shrank markedly to X units, which is down by X% on the year before. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor boat exports fell notably to $X in 2021. Overall, exports saw a noticeable contraction. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X units), Norway (X units) and Switzerland (X units) were the main destinations of motor boat exports from Estonia, together accounting for X% of total exports. Finland, Latvia, Russia, Bulgaria, the Czech Republic, Turkey, Germany, Lithuania, France and Hungary lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Sweden ($X) remains the key foreign market for motor boats and motor yachts, for pleasure or sports exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Latvia ($X), with an X% share of total exports. It was followed by Switzerland, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Switzerland (X% per year).

Export Prices by Country

In 2021, the average motor boat export price amounted to $X per unit, rising by X% against the previous year. In general, the export price enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

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

Motor Boat Imports

Imports into Estonia

In 2021, motor boat imports into Estonia skyrocketed to X units, growing by X% on the previous year's figure. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, motor boat imports soared to $X in 2021. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Finland (X units), Latvia (X units) and Germany (X units) were the main suppliers of motor boat imports to Estonia, with a combined X% share of total imports.

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

In value terms, Finland ($X) constituted the largest supplier of motor boats and motor yachts, for pleasure or sports to Estonia, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Finland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Germany (X% per year).

Import Prices by Country

In 2021, the average motor boat import price amounted to $X per unit, picking up by X% against the previous year. In general, the import price posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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 the UK ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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