Hong Kong SAR, China: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong motorcycle and bicycle market decreased by -59.9% to $X in 2021. In general, consumption, however, enjoyed a significant expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped rapidly in the following year.

Motorcycle And Bicycle Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of motorcycles and bicycles increased by 15% to X units, rising for the third year in a row after five years of decline. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 942%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, motorcycle and bicycle exports reduced dramatically to $X in 2021. In general, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 176%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X units) was the main destination for motorcycle and bicycle exports from Hong Kong SAR, accounting for a 16% share of total exports. Moreover, motorcycle and bicycle exports to Sweden exceeded the volume sent to the second major destination, Ukraine (X units), twofold. The United States (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden totaled +150.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+62.1% per year) and the United States (+65.2% per year).

In value terms, Sweden ($X) emerged as the key foreign market for motorcycles and bicycles exports from Hong Kong SAR, comprising 18% of total exports. The second position in the ranking was held by Ukraine ($X), with a 7.3% share of total exports. It was followed by the Netherlands, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to Sweden amounted to +138.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+83.8% per year) and the Netherlands (+80.9% per year).

Export Prices by Country

In 2021, the average motorcycle and bicycle export price amounted to $X per unit, declining by -55.9% against the previous year. Overall, the export price saw a significant contraction. The pace of growth was the most pronounced in 2018 an increase of 84% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Canada ($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 Lithuania (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Motorcycle And Bicycle Imports

Imports into Hong Kong SAR, China

After two years of growth, purchases abroad of motorcycles and bicycles decreased by -42.7% to X units in 2021. Overall, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 577%. Imports peaked at X units in 2020, and then plummeted in the following year.

In value terms, motorcycle and bicycle imports declined dramatically to $X in 2021. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 70% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of motorcycle and bicycle to Hong Kong SAR, with a 95% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 1.7% share of total imports. The United States (X units) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-8.1% per year) and the United States (-7.9% per year).

In value terms, China ($X) constituted the largest supplier of motorcycles and bicycles to Hong Kong SAR, comprising 68% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.6% share of total imports. It was followed by Japan, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +33.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.1% per year) and Japan (-14.0% per year).

Import Prices by Country

The average motorcycle and bicycle import price stood at $X per unit in 2021, picking up by 13% against the previous year. Overall, the import price, however, showed a dramatic contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 145%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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