Hong Kong SAR, China: Market for Motorcycles and Cycles With an Auxiliary Motor 2024

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Hong Kong SAR, China

The Hong Kong market for motorcycles and cycles with an auxiliary motor contracted rapidly to $X in 2021, with a decrease of -64.1% against the previous year. In general, consumption saw a sharp curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in Hong Kong SAR, China

In value terms, production of motorcycles and cycles with an auxiliary motor fell markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a significant increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 325%. As a result, production attained the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Hong Kong SAR, China

In 2021, shipments abroad of motorcycles and cycles with an auxiliary motor increased by 225% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, recorded a precipitous contraction. Over the period under review, the exports of hit record highs at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of motorcycles and cycles with an auxiliary motor plummeted to $X in 2021. Overall, exports, however, faced a dramatic curtailment. The pace of growth was the most pronounced in 2020 with an increase of 263%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units), Gambia (X units) and Ghana (X units) were the main destinations of exports of motorcycles and cycles with an auxiliary motor from Hong Kong SAR, with a combined 89% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +93.6%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) emerged as the key foreign market for motorcycles and cycles with an auxiliary motor exports from Hong Kong SAR, comprising 50% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by Macao SAR, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ghana totaled +80.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-15.5% per year) and Macao SAR (-45.6% per year).

Export Prices by Country

In 2021, the average export price for motorcycles and cycles with an auxiliary motor amounted to $X per unit, reducing by -79.5% against the previous year. Over the period under review, the export price faced a abrupt curtailment. The pace of growth was the most pronounced in 2017 an increase of 126% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to China ($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 Macao SAR (+0.9%), while the prices for the other major destinations experienced a decline.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Hong Kong SAR, China

Imports of motorcycles and cycles with an auxiliary motor into Hong Kong SAR dropped sharply to X units in 2021, with a decrease of -89.6% on the previous year's figure. In general, imports continue to indicate a significant curtailment. The growth pace was the most rapid in 2019 when imports increased by 77%. Over the period under review, imports of reached the maximum at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of motorcycles and cycles with an auxiliary motor dropped remarkably to $X in 2021. Overall, imports faced a sharp reduction. The pace of growth was the most pronounced in 2019 when imports increased by 98%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of motorcycles and cycles with an auxiliary motor to Hong Kong SAR, accounting for a 85% share of total imports. Moreover, imports of motorcycles and cycles with an auxiliary motor from Japan exceeded the figures recorded by the second-largest supplier, Singapore (X units), eightfold. The third position in this ranking was held by Austria (X units), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to -38.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+13.8% per year) and Austria (+16.7% per year).

In value terms, the largest motorcycles and cycles with an auxiliary motor suppliers to Hong Kong SAR were Japan ($X), Singapore ($X) and the UK ($X), with a combined 90% share of total imports.

Singapore, with a CAGR of +20.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, waning by -14.3% against the previous year. Overall, the import price, however, showed a strong expansion. The pace of growth was the most pronounced in 2013 when the average import price increased by 65% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 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 the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+47.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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