Hong Kong SAR, China - Electric Accumulators - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong 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.
| COUNTRY | Export Value of Accumulator in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 1,132 | 1,065 | 1,005 | 898 | 1,164 | 1,458 | 1,278 | 1,183 | 1,261 | 1,014 | 875 |
| South Korea | 19.0 | 10.2 | 19.1 | 24.3 | 14.3 | 12.0 | 29.0 | 173 | 581 | 753 | 581 |
| India | 27.7 | 22.2 | 54.4 | 115 | 222 | 406 | 520 | 396 | 514 | 601 | 464 |
| Netherlands | 30.9 | 25.2 | 27.0 | 31.2 | 59.4 | 75.8 | 149 | 277 | 422 | 326 | 260 |
| United States | 229 | 179 | 209 | 263 | 372 | 379 | 341 | 332 | 348 | 290 | 245 |
| Japan | 101 | 91.6 | 96.6 | 72.1 | 69.7 | 93.3 | 136 | 202 | 272 | 137 | 155 |
| Germany | 58.6 | 55.0 | 62.8 | 78.6 | 94.6 | 127 | 153 | 145 | 210 | 189 | 146 |
| Others | 470 | 392 | 414 | 406 | 542 | 627 | 759 | 911 | 1,007 | 976 | 823 |
| Total | 2,069 | 1,839 | 1,888 | 1,888 | 2,538 | 3,177 | 3,366 | 3,619 | 4,614 | 4,285 | 3,548 |
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.
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
