Myanmar: Inflatable Vessel Market 2022

Inflatable Vessel Market Size in Myanmar

In 2021, the Myanmar's inflatable vessel market decreased by -18% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate resilient growth. Over the period under review, the market attained the maximum level at $X in 2020, and then declined notably in the following year.

Inflatable Vessel Production in Myanmar

In value terms, inflatable vessel production declined remarkably to $X in 2021 estimated in export price. Overall, production, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 103%. Inflatable vessel production peaked at $X in 2020, and then dropped rapidly in the following year.

Inflatable Vessel Exports

Exports from Myanmar

For the fourth year in a row, Myanmar recorded growth in shipments abroad of inflatable vessels for pleasure or sports, which increased by 181% to X units in 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 403% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, inflatable vessel exports soared to $X in 2021. Overall, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units), the United States (X units) and Thailand (X units) were the main destinations of inflatable vessel exports from Myanmar, together accounting for 96% of total exports.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +960.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and China ($X) were the largest markets for inflatable vessel exported from Myanmar worldwide, together accounting for 99% of total exports.

China, with a CAGR of +976.2%, saw 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

The average inflatable vessel export price stood at $X per unit in 2021, increasing by 89% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per unit), while the average price for exports to the UK ($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 China (+345.8%), while the prices for the other major destinations experienced a decline.

Inflatable Vessel Imports

Imports into Myanmar

In 2021, imports of inflatable vessels for pleasure or sports into Myanmar surged to X units, jumping by 350% compared with the year before. Overall, imports continue to indicate prominent growth. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, inflatable vessel imports surged to $X in 2021. In general, imports saw a noticeable expansion. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and France (X units) were the main suppliers of inflatable vessel imports to Myanmar. Moreover, inflatable vessel imports in the United Arab Emirates exceeded the figures recorded by the second-largest supplier, France, twofold.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +17.0%).

In value terms, the United Arab Emirates ($X) and France ($X) were the largest inflatable vessel suppliers to Myanmar.

The United Arab Emirates, with a CAGR of +19.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average inflatable vessel import price amounted to $X per unit, waning by -26.1% against the previous year. Overall, the import price recorded a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of 97% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for the United Arab Emirates amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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