Hong Kong SAR, China: Motor Boat Market 2022

Motor Boat Market Size in Hong Kong SAR, China

In 2021, the Hong Kong motor boat market was finally on the rise to reach $X after three years of decline. Over the period under review, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -X% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Motor Boat Production in Hong Kong SAR, China

In value terms, motor boat production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Motor Boat Exports

Exports from Hong Kong SAR, China

Motor boat exports from Hong Kong SAR declined rapidly to X units in 2021, shrinking by -X% compared with the previous year's figure. Overall, exports showed a sharp shrinkage. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, motor boat exports fell dramatically to $X in 2021. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X units) was the main destination for motor boat exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, motor boat exports to New Zealand exceeded the volume sent to the second major destination, Macao SAR (X units), fourfold. Singapore (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Singapore (-X% per year).

In value terms, Macao SAR ($X), New Zealand ($X) and Italy ($X) were the largest markets for motor boat exported from Hong Kong SAR worldwide, with a combined X% share of total exports.

Italy, with a CAGR of +X%, recorded the highest growth rate of 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

In 2021, the average motor boat export price amounted to $X per unit, shrinking by -X% against the previous year. In general, the export price, however, saw a strong increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Taiwan (Chinese) (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Boat Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of motor boats and motor yachts, for pleasure or sports increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, imports posted a pronounced increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, motor boat imports skyrocketed to $X in 2021. In general, imports showed a prominent increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of motor boat to Hong Kong SAR, accounting for a X% share of total imports. Moreover, motor boat imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. The third position in this ranking was held by the UK (X units), with a X% share.

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

In value terms, Italy ($X) constituted the largest supplier of motor boat to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and the United States (+X% per year).

Import Prices by Country

The average motor boat import price stood at $X per unit in 2021, surging by X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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