Hong Kong SAR, China - Radio Remote Control Apparatus - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHong Kong Sees Decline in Remote Control Apparatus Exports, Dropping to $177 Million in 2023
Hong Kong Remote Control Apparatus Exports
In 2023, exports of radio remote control apparatus from Hong Kong fell to 34M units, dropping by -5.7% against 2022. Over the period under review, exports showed a noticeable curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports attained the maximum at 55M units in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.
In value terms, remote control apparatus exports declined to $177M (IndexBox estimates) in 2023. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 23%. As a result, the exports attained the peak of $222M. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.
| COUNTRY | Export Value of Remote Control Apparatus in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Vietnam | 0.1 | 1.0 | 0.8 | 1.6 | 2.4 | 4.9 | 24.9 | 45.7 | 63.1 | 63.4 | 69.7 |
| United States | 65.8 | 76.7 | 61.2 | 45.9 | 35.1 | 45.4 | 26.0 | 13.8 | 15.7 | 24.3 | 25.4 |
| Japan | 16.2 | 37.8 | 36.6 | 22.1 | 31.6 | 22.7 | 22.2 | 14.5 | 11.9 | 16.7 | 14.1 |
| China | 43.8 | 46.3 | 42.7 | 43.8 | 23.9 | 21.4 | 23.0 | 22.8 | 29.0 | 24.0 | 13.9 |
| France | 1.0 | 1.5 | 1.1 | 1.2 | 1.9 | 1.9 | 2.0 | 1.8 | 2.7 | 3.3 | 4.6 |
| United Kingdom | 2.6 | 4.0 | 4.5 | 6.0 | 6.4 | 4.3 | 2.6 | 4.7 | 3.1 | 3.4 | 4.0 |
| Germany | 13.9 | 20.1 | 8.3 | 11.4 | 10.0 | 9.7 | 11.9 | 10.9 | 13.6 | 10.1 | 4.0 |
| Australia | 6.8 | 2.6 | 5.1 | 4.6 | 6.8 | 5.0 | 5.8 | 5.4 | 4.6 | 4.6 | 2.7 |
| Malaysia | 6.7 | 5.5 | 5.2 | 7.1 | 8.7 | 9.9 | 9.6 | 10.2 | 10.0 | 8.9 | 2.7 |
| Others | 23.4 | 26.5 | 24.2 | 34.4 | 27.5 | 21.7 | 28.0 | 20.5 | 27.5 | 27.7 | 35.7 |
| Total | 180 | 222 | 190 | 178 | 154 | 147 | 156 | 150 | 181 | 186 | 177 |
Exports by Country
Vietnam (19M units) was the main destination for remote control apparatus exports from Hong Kong, accounting for a 56% share of total exports. Moreover, remote control apparatus exports to Vietnam exceeded the volume sent to the second major destination, China (4.3M units), fourfold. The third position in this ranking was held by the United States (2.8M units), with an 8.2% share.
From 2013 to 2023, the average annual growth rate of volume to Vietnam amounted to +71.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-9.5% per year) and the United States (-15.5% per year).
In value terms, Vietnam ($70M) remains the key foreign market for radio remote control apparatus exports from Hong Kong, comprising 39% of total exports. The second position in the ranking was taken by the United States ($25M), with a 14% share of total exports. It was followed by Japan, with an 8% share.
From 2013 to 2023, the average annual rate of growth in terms of value to Vietnam stood at +94.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.1% per year) and Japan (-1.4% per year).
Export Prices by Country
In 2023, the remote control apparatus price stood at $5.1 per unit (FOB, Hong Kong), flattening at the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2022 when the average export price increased by 15%. The export price peaked in 2023 and is likely to continue growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($17 per unit), while the average price for exports to Brazil ($637 per thousand units) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the remote control apparatus 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 26512080 - Radio remote control apparatus (including for ships, pilotless aircraft, rockets, missiles, toys, and model ships or aircraft, for machines, for the detonation of mines)
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
