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Hong Kong SAR, China - Electric Accumulators - Market Analysis, Forecast, Size, Trends and Insights
Report Update: May 1, 2025

Hong Kong SAR, China - Electric Accumulators - Market Analysis, Forecast, Size, Trends and Insights

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Aug 4, 2024

Hong Kong's Accumulator Exports Plummet to $3.5 Billion in 2023

Hong Kong Accumulator Exports

In 2023, overseas shipments of electric accumulators decreased by -20.1% to 789M units, falling for the second year in a row after six years of growth. Over the period under review, exports continue to indicate a mild setback. The pace of growth was the most pronounced in 2017 with an increase of 18%. Over the period under review, the exports attained the maximum at 1.3B units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, accumulator exports dropped rapidly to $3.5B (IndexBox estimates) in 2023. Overall, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 34% against the previous year. The exports peaked at $4.6B in 2021; however, from 2022 to 2023, the exports failed to regain momentum.Hong Kong Accumulator Exports By Country (Million USD)

COUNTRYExport Value of Accumulator in Hong Kong (million USD)
20132014201520162017201820192020202120222023
China1,1321,0651,0058981,1641,4581,2781,1831,2611,014875
South Korea19.010.219.124.314.312.029.0173581753581
India27.722.254.4115222406520396514601464
Netherlands30.925.227.031.259.475.8149277422326260
United States229179209263372379341332348290245
Japan10191.696.672.169.793.3136202272137155
Germany58.655.062.878.694.6127153145210189146
Others4703924144065426277599111,007976823
Total2,0691,8391,8881,8882,5383,1773,3663,6194,6144,2853,548

Exports by Country

China (407M units) was the main destination for accumulator exports from Hong Kong, with a 52% share of total exports. Moreover, accumulator exports to China exceeded the volume sent to the second major destination, India (80M units), fivefold. The third position in this ranking was held by the United States (33M units), with a 4.2% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to China amounted to -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+13.7% per year) and the United States (-3.3% per year).

In value terms, China ($875M), South Korea ($581M) and India ($464M) appeared to be the largest markets for accumulator exported from Hong Kong worldwide, together accounting for 54% of total exports.

Among the main countries of destination, South Korea, with a CAGR of +40.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators (789M units) was the largest type of electric accumulators exported from Hong Kong, with a 100% share of total exports. It was followed by lead-acid accumulators (excluding starter batteries) (545K units), with a 0.1% share of total exports.

From 2013 to 2023, the average annual growth rate of the volume of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators exports amounted to -1.7%. With regard to the other exported products, the following average annual rates of growth were recorded: lead-acid accumulators (excluding starter batteries) (-24.0% per year) and lead-acid accumulators for starting piston engines (-21.1% per year).

In value terms, nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators ($3.5B) remains the largest type of electric accumulators exported from Hong Kong, comprising 100% of total exports. The second position in the ranking was held by lead-acid accumulators (excluding starter batteries) ($11M), with a 0.3% share of total exports.

From 2013 to 2023, the average annual rate of growth in terms of the value of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators exports stood at +5.9%. With regard to the other exported products, the following average annual rates of growth were recorded: lead-acid accumulators (excluding starter batteries) (-15.0% per year) and lead-acid accumulators for starting piston engines (-18.3% per year).

Export Prices by Country

In 2023, the accumulator price amounted to $4.5 per unit (FOB, Hong Kong), picking up by 3.7% against the previous year. In general, export price indicated a remarkable increase from 2013 to 2023: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, accumulator export price increased by +105.5% against 2013 indices. The growth pace was the most rapid in 2022 when the average export price increased by 19%. The export price peaked in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($25 per unit), while the average price for exports to Poland ($1.3 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the accumulator market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 27202100 - Lead-acid accumulators for starting piston engines
  • Prodcom 27202210 -
  • Prodcom 27202250 -
  • Prodcom 27202300 - Nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer, nickel-iron and other electric accumulators

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Products: Market Size and Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports and Growth, By Type
    13. Products: Export Prices and Growth, By Type
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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