Hong Kong SAR, China: Vehicle Radio Market 2025

Vehicle Radio Market Size in Hong Kong SAR, China

In 2022, the Hong Kong vehicle radio market decreased by -3.5% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, continues to indicate a resilient increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Vehicle Radio Production in Hong Kong SAR, China

In value terms, vehicle radio production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 58% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Vehicle Radio Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of radio receivers for motor vehicles were finally on the rise to reach X units after five years of decline. Overall, exports, however, saw a significant curtailment. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vehicle radio exports contracted significantly to $X in 2022. Over the period under review, exports, however, saw a precipitous shrinkage. The growth pace was the most rapid in 2014 when exports increased by 22% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), the UK (X units) and the United States (X units) were the main destinations of vehicle radio exports from Hong Kong SAR, with a combined 69% share of total exports. Ireland, New Zealand, France, Japan, the Netherlands, Greece, Australia, Spain and Brazil lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +2,024.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vehicle radio exported from Hong Kong SAR were the UK ($X), the United States ($X) and China ($X), together comprising 48% of total exports. Ireland, New Zealand, France, Greece, Japan, Australia, the Netherlands, Spain and Brazil lagged somewhat behind, together accounting for a further 40%.

In terms of the main countries of destination, Greece, with a CAGR of +1,023.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vehicle radio export price amounted to $X per unit, reducing by -47.1% against the previous year. In general, the export price, however, showed moderate growth. The most prominent rate of growth was recorded in 2019 an increase of 46% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then contracted significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to China ($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 France (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vehicle Radio Imports

Imports into Hong Kong SAR, China

In 2022, vehicle radio imports into Hong Kong SAR contracted remarkably to X units, with a decrease of -57% on the year before. In general, imports showed a significant decline. The pace of growth appeared the most rapid in 2013 with an increase of 129%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vehicle radio imports shrank rapidly to $X in 2022. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by 29%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main vehicle radio supplier to Hong Kong SAR, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -28.2%.

In value terms, China ($X) constituted the largest supplier of radio receivers for motor vehicles to Hong Kong SAR.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -17.9%.

Import Prices by Country

The average vehicle radio import price stood at $X per unit in 2022, declining by -7.4% against the previous year. Overall, the import price, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 64% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then declined in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +14.3% per year.

Source: IndexBox Platform

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