In 2023, the import value of rowing boats, canoes, and pleasure boats except sailboats into China stood at approximately 15.3 million US dollars. From 2024 onwards, there is a clear downward trend in the forecasted import values, with an average annual decline of around 3% over the five-year period. By 2028, the projected import value decreases to 13.232 million US dollars. Over the five years, the compound annual growth rate (CAGR) reflects a negative trend, indicating a gradual decrease in demand or market saturation for such imports in China.
Future trends to watch for include:
- Shifts in consumer preferences towards alternative leisure activities, potentially impacting demand.
- Policy changes affecting import tariffs or environmental regulations that could alter market dynamics.
- Technological advancements in domestic production that might reduce reliance on imports.
