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Hong Kong SAR, China - Relays - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

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

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Oct 15, 2023

Price of Relay Units in Hong Kong Increases Slightly to $2.2

Hong Kong Relay Export Price in June 2023

In June 2023, the relay price amounted to $2.2 per unit (FOB, Hong Kong), with an increase of 17% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 76% month-to-month. As a result, the export price attained the peak level of $2,205 per thousand units; afterwards, it flattened through to June 2023.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2.8 per unit), while the average price for exports to Thailand ($870 per thousand units) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hong Kong Relay Export Prices By Country (USD Per Unit)
COUNTRYExport Price of Relay in Hong Kong (USD per unit)
Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023
United States2.01.72.42.51.92.41.71.92.62.23.21.92.8
Germany2.11.61.41.71.41.21.92.52.71.21.11.12.5
China2.42.22.32.72.22.32.81.22.61.03.12.72.5
Taiwan (Chinese)1.31.61.32.31.11.81.31.51.81.91.61.82.1
South Korea1.62.31.61.71.51.31.51.31.31.21.31.12.1
Singapore1.71.61.81.41.62.11.61.81.91.92.01.51.9
Thailand1.21.11.11.01.11.21.21.11.31.31.31.10.9
Average1.91.81.92.11.82.02.01.42.11.32.21.92.2

Hong Kong Relay Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was electrical apparatus ($5.8 per unit), while the average price for exports of electrical apparatus; relays, (for a voltage not exceeding 60 volts) totaled $1.8 per unit.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for the following types: electrical apparatus; relays, (for a voltage not exceeding 60 volts) (+0.9%).

Hong Kong Relay Exports

For the third consecutive month, Hong Kong recorded decline in shipments abroad of relays, which decreased by -15.7% to 13M units in June 2023. Overall, exports showed a perceptible curtailment. The pace of growth appeared the most rapid in March 2023 with an increase of 113% month-to-month. As a result, the exports attained the peak of 28M units. From April 2023 to June 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, relay exports declined modestly to $27M (IndexBox estimates) in June 2023. In general, exports saw a noticeable curtailment. The most prominent rate of growth was recorded in March 2023 with an increase of 26% month-to-month. The exports peaked at 43M units in June 2022; however, from July 2022 to June 2023, the exports failed to regain momentum.

Hong Kong Relay Exports by Type

Electrical apparatus; relays, (for a voltage not exceeding 60 volts) (11M units) was the largest type of relay exported from Hong Kong, with a 90% share of total exports. Moreover, electrical apparatus; relays, (for a voltage not exceeding 60 volts) exceeded the volume of the second product type, electrical apparatus (1.3M units), ninefold.

From June 2022 to June 2023, the average monthly growth rate of the volume of export of electrical apparatus; relays, (for a voltage not exceeding 60 volts) stood at -5.0%.

In value terms, electrical apparatus; relays, (for a voltage not exceeding 60 volts) ($20M) remains the largest type of relay exported from Hong Kong, comprising 72% of total exports. The second position in the ranking was held by electrical apparatus ($7.6M), with a 28% share of total exports.

From June 2022 to June 2023, the average monthly growth rate of the export volume of electrical apparatus; relays, (for a voltage not exceeding 60 volts) stood at -4.1%.

Hong Kong Relay Exports by Country

China (5.3M units) was the main destination for relay exports from Hong Kong, with a 42% share of total exports. Moreover, relay exports to China exceeded the volume sent to the second major destination, Thailand (1.7M units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (730K units), with a 5.8% share.

From June 2022 to June 2023, the average monthly rate of growth in terms of volume to China totaled -5.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Thailand (+0.2% per month) and Taiwan (Chinese) (-3.3% per month).

In value terms, China ($13M) remains the key foreign market for relay exports from Hong Kong, comprising 49% of total exports. The second position in the ranking was taken by the United States ($1.8M), with a 6.5% share of total exports. It was followed by Germany, with a 5.8% share.

From June 2022 to June 2023, the average monthly growth rate of value to China amounted to -4.7%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United States (-3.9% per month) and Germany (+8.0% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the relay 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 27122433 - Relays for a voltage . .60 V and for a current . 2 A
  • Prodcom 27122435 - Relays for a voltage . .60 V and for a current > 2 A
  • Prodcom 27122450 - Relays and contactors for a voltage > .60 V but . 1 kV

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 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 TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    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 Exports

    This Chapter is Available Only for the Professional Edition PRO
    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

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    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, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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