Eastern Asia: Video Game Console Market 2024

Video Game Console Market Size in Eastern Asia

The East Asian video game console market skyrocketed to $X in 2022, increasing by 90% against the previous year. Over the period under review, consumption continues to indicate a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Video Game Console Production in Eastern Asia

In value terms, video game console production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 28%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Video Game Console Exports

Exports in Eastern Asia

In 2022, approx. X units of video game consoles were exported in Eastern Asia; surging by 2.2% compared with the year before. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.7% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 35%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, video game console exports soared to $X in 2022. In general, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, resulting at X units, which was near 94% of total exports in 2022. Hong Kong SAR (X units) and Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the video game consoles exports, with a CAGR of +6.9% from 2012 to 2022. At the same time, Japan (+5.8%) displayed positive paces of growth. By contrast, Hong Kong SAR (-8.8%) illustrated a downward trend over the same period. While the share of China (+13 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-12.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest video game console supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was held by Japan ($X), with an 11% share of total exports.

In China, video game console exports expanded at an average annual rate of +9.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+9.5% per year) and Hong Kong SAR (-3.3% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2017 an increase of 17%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.1%), while the other leaders experienced more modest paces of growth.

Video Game Console Imports

Imports in Eastern Asia

In 2022, the amount of video game consoles imported in Eastern Asia stood at X units, increasing by 4.9% compared with the year before. Overall, imports, however, saw a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of 98% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, video game console imports rose markedly to $X in 2022. Over the period under review, imports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 128%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan was the major importing country with an import of around X units, which finished at 56% of total imports. Hong Kong SAR (X units) took the second position in the ranking, distantly followed by South Korea (X units), Taiwan (Chinese) (X units) and China (X units). All these countries together held near 44% share of total imports.

Imports into Japan increased at an average annual rate of +2.8% from 2012 to 2022. At the same time, China (+17.1%), South Korea (+11.9%) and Taiwan (Chinese) (+3.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +17.1% from 2012-2022. By contrast, Hong Kong SAR (-9.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan, South Korea, China and Taiwan (Chinese) increased by +18, +6.5, +4.4 and +2.7 percentage points, respectively.

In value terms, Japan ($X) constitutes the largest market for imported video game consoles in Eastern Asia, comprising 50% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.7% per year) and China (+16.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, picking up by 8.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2017 an increase of 15%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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