GCC: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in GCC

The GCC inflatable vessel market amounted to $X in 2023, almost unchanged from the previous year. Over the period under review, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Inflatable Vessel Production in GCC

In value terms, inflatable vessel production shrank modestly to $X in 2023 estimated in export price. Overall, production, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2023, production failed to regain momentum.

Inflatable Vessel Exports

Exports in GCC

In 2023, the amount of inflatable vessels for pleasure or sports exported in GCC surged to X units, picking up by X% compared with 2022 figures. Overall, exports recorded a temperate increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, inflatable vessel exports fell to $X in 2023. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X units) represented the largest exporter of inflatable vessels for pleasure or sports, achieving X% of total exports. It was distantly followed by Kuwait (X units), making up a X% share of total exports. The following exporters - Bahrain (X units) and Oman (X units) - each finished at a X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Oman (X%) and Bahrain (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Oman (X p.p.) and Bahrain (X p.p.) displayed negative dynamics.

In value terms, Kuwait ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Oman, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price showed a deep downturn. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the export price figures.

Inflatable Vessel Imports

Imports in GCC

In 2023, purchases abroad of inflatable vessels for pleasure or sports decreased by X% to X units for the first time since 2018, thus ending a four-year rising trend. Overall, imports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2022, and then shrank in the following year.

In value terms, inflatable vessel imports shrank to $X in 2023. In general, imports, however, posted a slight increase. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importer of inflatable vessels for pleasure or sports in GCC, with the volume of imports reaching X units, which was near X% of total imports in 2023. It was distantly followed by Kuwait (X units), committing a X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the inflatable vessels for pleasure or sports imports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Kuwait (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2023.

Among the main importing countries, Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in GCC stood at $X per unit in 2023, with a decrease of X% against the previous year. Overall, the import price showed a abrupt descent. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates amounted to $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%).

Source: IndexBox Platform