Vietnam: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Vietnam

The Vietnamese inflatable vessel market expanded modestly to $X in 2023, surging by X% against the previous year. Over the period under review, consumption, however, showed a drastic downturn. Inflatable vessel consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Inflatable Vessel Production in Vietnam

In value terms, inflatable vessel production reached $X in 2023 estimated in export price. In general, production, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Inflatable vessel production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Inflatable Vessel Exports

Exports from Vietnam

For the seventh consecutive year, Vietnam recorded growth in overseas shipments of inflatable vessels for pleasure or sports, which increased by X% to X units in 2023. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, inflatable vessel exports dropped to $X in 2023. Overall, exports showed buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2022, and then contracted in the following year.

Exports by Country

Switzerland (X units), the United States (X units) and Austria (X units) were the main destinations of inflatable vessel exports from Vietnam, with a combined X% share of total exports. Germany, the Netherlands, the Philippines, France and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for inflatable vessels for pleasure or sports exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by France ($X), with an X% share of total exports. It was followed by Austria, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Austria (X% per year).

Export Prices by Country

The average inflatable vessel export price stood at $X per unit in 2023, which is down by X% against the previous year. Overall, the export price showed a deep setback. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Inflatable Vessel Imports

Imports into Vietnam

In 2023, purchases abroad of inflatable vessels for pleasure or sports was finally on the rise to reach X units after two years of decline. Overall, imports, however, showed a deep setback. The pace of growth was the most pronounced in 2015 when imports increased by X%. As a result, imports reached the peak of X units. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, inflatable vessel imports skyrocketed to $X in 2023. Over the period under review, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), China (X units) and Spain (X units) were the main suppliers of inflatable vessel imports to Vietnam, with a combined X% share of total imports. Malaysia, the Philippines, Australia, Canada, the UK, the United States, New Zealand, the Netherlands, Russia and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest inflatable vessel suppliers to Vietnam were Spain ($X), South Korea ($X) and China ($X), together accounting for X% of total imports. The United States, Germany, Australia, Malaysia, Canada, the UK, New Zealand, the Netherlands, the Philippines and Russia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average inflatable vessel import price amounted to $X per unit, waning by X% against the previous year. Overall, the import price, however, recorded prominent growth. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per unit in 2022, and then contracted remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform