Hong Kong SAR, China: Snow Motor Vehicle Market 2025

Snow Motor Vehicle Market Size in Hong Kong SAR, China

In 2022, the Hong Kong snow motor vehicle market decreased by -17.4% to $X, falling for the third consecutive year after two years of growth. In general, consumption recorded a deep slump. Snow motor vehicle consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Snow Motor Vehicle Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of motor vehicles for travelling on snow or golf cars decreased by -75.3% to X units in 2022. Overall, exports showed a deep contraction. The growth pace was the most rapid in 2020 with an increase of 989% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, snow motor vehicle exports dropped remarkably to $X in 2022. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2020 with an increase of 428% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X units) was the main destination for snow motor vehicle exports from Hong Kong SAR, with a 67% share of total exports. Moreover, snow motor vehicle exports to Macao SAR exceeded the volume sent to the second major destination, Japan (X units), eightfold. The third position in this ranking was held by the United States (X units), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR amounted to -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+7.0% per year) and the United States (0.0% per year).

In value terms, Macao SAR ($X) emerged as the key foreign market for motor vehicles for travelling on snow or golf cars exports from Hong Kong SAR, comprising 92% of total exports. The second position in the ranking was taken by Russia ($X), with a 4% share of total exports. It was followed by the United States, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-23.2% per year) and the United States (-13.9% per year).

Export Prices by Country

The average snow motor vehicle export price stood at $X per unit in 2022, increasing by 114% against the previous year. Overall, the export price, however, saw a slight descent. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Snow Motor Vehicle Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of motor vehicles for travelling on snow or golf cars decreased by -48.7% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 81% against the previous year. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, snow motor vehicle imports fell remarkably to $X in 2022. In general, imports saw a deep slump. The pace of growth was the most pronounced in 2016 when imports increased by 163% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), China (X units) and Japan (X units) were the main suppliers of snow motor vehicle imports to Hong Kong SAR, together accounting for 99.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +13.3%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of motor vehicles for travelling on snow or golf cars to Hong Kong SAR, comprising 68% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.2% per year) and Japan (+30.4% per year).

Import Prices by Country

The average snow motor vehicle import price stood at $X per unit in 2022, increasing by 13% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, snow motor vehicle import price decreased by -31.3% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 47%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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