Singapore: Motor Boat Market 2024

Motor Boat Market Size in Singapore

The Singaporean motor boat market shrank modestly to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, recorded a pronounced decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Motor Boat Production in Singapore

In value terms, motor boat production reduced notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Motor boat production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Motor Boat Exports

Exports from Singapore

In 2022, exports of motor boats and motor yachts, for pleasure or sports from Singapore was estimated at X units, rising by X% against 2021 figures. In general, exports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, motor boat exports reduced dramatically to $X in 2022. Over the period under review, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Indonesia (X units) was the main destination for motor boat exports from Singapore, with a X% share of total exports. Moreover, motor boat exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for motor boats and motor yachts, for pleasure or sports exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Australia (X% per year).

Export Prices by Country

The average motor boat export price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced a decline.

Motor Boat Imports

Imports into Singapore

In 2022, approx. X units of motor boats and motor yachts, for pleasure or sports were imported into Singapore; picking up by X% compared with 2021. Overall, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, motor boat imports stood at $X in 2022. Over the period under review, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Malaysia (X units), Indonesia (X units) and Mexico (X units) were the main suppliers of motor boat imports to Singapore, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Mexico ($X) and Indonesia ($X) appeared to be the largest motor boat suppliers to Singapore, 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 more modest paces of growth.

Import Prices by Country

The average motor boat import price stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the import price, however, saw mild growth. The growth pace was the most rapid in 2013 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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