Northern America: Inflatable Vessel Market 2024

Inflatable Vessel Market Size in Northern America

For the third year in a row, the North American inflatable vessel market recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption, however, faced a significant curtailment. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Inflatable Vessel Production in Northern America

In value terms, inflatable vessel production amounted to $X in 2023 estimated in export price. Overall, production, however, showed a sharp descent. The most prominent rate of growth was recorded in 2016 with a decrease of X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Inflatable Vessel Exports

Exports in Northern America

In 2023, exports of inflatable vessels for pleasure or sports in Northern America fell to X units, which is down by X% on the previous year. In general, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, inflatable vessel exports rose to $X in 2023. Overall, exports showed a dramatic downturn. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Greenland (X units) represented roughly X% of total exports in 2023.

Greenland was also the fastest-growing in terms of the inflatable vessels for pleasure or sports exports, with a CAGR of X% from 2012 to 2023. While the share of Greenland (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Greenland ($X) also remains the largest inflatable vessel supplier in Northern America.

From 2012 to 2023, the average annual growth rate of value in Greenland totaled X%.

Export Prices by Country

In 2023, the export price in Northern America amounted to $X per unit, surging by X% against the previous year. In general, the export price, however, recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Greenland.

From 2012 to 2023, the rate of growth in terms of prices for Greenland amounted to X% per year.

Inflatable Vessel Imports

Imports in Northern America

In 2023, purchases abroad of inflatable vessels for pleasure or sports decreased by X% to X units, falling for the second year in a row after ten years of growth. Overall, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, inflatable vessel imports reduced to $X in 2023. In general, imports continue to indicate a significant decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Greenland represented the key importer of inflatable vessels for pleasure or sports in Northern America, with the volume of imports accounting for X units, which was approx. X% of total imports in 2023. It was distantly followed by Bermuda (X units), making up an X% share of total imports. Saint Pierre and Miquelon (X units) followed a long way behind the leaders.

Greenland 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, Bermuda (X%) and Saint Pierre and Miquelon (X%) displayed positive paces of growth. While the share of Greenland (X p.p.), Bermuda (X p.p.) and Saint Pierre and Miquelon (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bermuda ($X) constitutes the largest market for imported inflatable vessels for pleasure or sports in Northern America, comprising X% of total imports. The second position in the ranking was taken by Greenland ($X), with a X% share of total imports.

In Bermuda, inflatable vessel imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Greenland (X% per year) and Saint Pierre and Miquelon (X% per year).

Import Prices by Country

In 2023, the import price in Northern America amounted to $X per unit, picking up by X% against the previous year. Overall, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, import prices attained the peak figure in 2023 and is likely to continue growth in the near future.

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 Saint Pierre and Miquelon ($X per unit), while Greenland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform