Lithuania: Motor Boat Market 2024

Motor Boat Market Size in Lithuania

After two years of growth, the Lithuanian motor boat market decreased by X% to $X in 2022. In general, consumption continues to indicate a precipitous decline. Motor boat consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Motor Boat Production in Lithuania

In value terms, motor boat production fell rapidly to $X in 2022 estimated in export price. Over the period under review, production faced a sharp descent. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Motor boat production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Motor Boat Exports

Exports from Lithuania

In 2021, overseas shipments of motor boats and motor yachts, for pleasure or sports decreased by X% to X units, falling for the second year in a row after three years of growth. In general, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, motor boat exports skyrocketed to $X in 2021. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

Russia (X units), Sweden (X units) and Germany (X units) were the main destinations of motor boat exports from Lithuania, with a combined X% share of total exports.

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

In value terms, Sweden ($X), Germany ($X) and Switzerland ($X) constituted the largest markets for motor boat exported from Lithuania worldwide, with a combined X% share of total exports. Norway, Denmark, the Netherlands, France, the UK, Turkey, Russia, Latvia and the Czech Republic lagged somewhat behind, together comprising a further X%.

The UK, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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, with an increase of X% against the previous year. Over the period under review, the export price showed significant growth. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the Czech Republic ($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 more modest paces of growth.

Motor Boat Imports

Imports into Lithuania

After two years of decline, supplies from abroad of motor boats and motor yachts, for pleasure or sports increased by X% to X units in 2021. Overall, imports enjoyed tangible growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, motor boat imports soared to $X in 2021. In general, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

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

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

In value terms, the largest motor boat suppliers to Lithuania were Finland ($X), Latvia ($X) and France ($X), with a combined X% share of total imports. Norway, Belgium and the United States lagged somewhat behind, together accounting for a further X%.

Norway, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average motor boat import price amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the import price posted a significant expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :