Hong Kong SAR, China: Bicycle Lighting Market 2024

Bicycle Lighting Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong bicycle lighting market decreased by -20.3% to $X in 2021. Over the period under review, consumption saw a mild setback. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Bicycle Lighting Production in Hong Kong SAR, China

In value terms, bicycle lighting production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when the production volume increased by 29%. As a result, production reached the peak level of $X, and then fell in the following year.

Bicycle Lighting Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of electrical or battery operated lighting or visual signalling for bicycles was finally on the rise to reach X units after six years of decline. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 38%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, bicycle lighting exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a mild setback. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Germany (X units) and the Netherlands (X units) were the main destinations of bicycle lighting exports from Hong Kong SAR, with a combined 57% share of total exports. Japan, the UK, Canada, France, Austria, Sweden, Australia, Switzerland, China and Cambodia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +18.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for electrical or battery operated lighting or visual signalling for bicycles exports from Hong Kong SAR, comprising 35% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by the UK, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.8% per year) and the UK (+1.6% per year).

Export Prices by Country

The average bicycle lighting export price stood at $X per unit in 2021, with an increase of 12% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bicycle lighting export price increased by +85.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 42%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Lighting Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of electrical or battery operated lighting or visual signalling for bicycles increased by 11% to X units, rising for the third year in a row after four years of decline. Over the period under review, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, bicycle lighting imports amounted to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.9% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of bicycle lighting to Hong Kong SAR, accounting for a 91% share of total imports. Moreover, bicycle lighting imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -10.8%.

In value terms, China ($X) constituted the largest supplier of electrical or battery operated lighting or visual signalling for bicycles to Hong Kong SAR, comprising 90% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +3.6%.

Import Prices by Country

The average bicycle lighting import price stood at $X per unit in 2021, shrinking by -5.4% against the previous year. In general, the import price, however, recorded a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 57%. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.1%).

Source: IndexBox Platform

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