Hong Kong SAR, China: Swivel Seat Market 2024

Swivel Seat Market Size in Hong Kong SAR, China

In 2022, the Hong Kong swivel seat market decreased by -16.4% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a pronounced shrinkage. Swivel seat consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Swivel Seat Exports

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of swivel seats with variable height adjustments increased by 2% to X units in 2022. Overall, exports, however, showed a deep slump. The growth pace was the most rapid in 2016 when exports increased by 123%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, swivel seat exports surged to $X in 2022. In general, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 109%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), Pakistan (X units) and Macao SAR (X units) were the main destinations of swivel seat exports from Hong Kong SAR, with a combined 75% share of total exports. The Philippines, the United States, Chile, Vietnam, Japan and India lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +47.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for swivel seats with variable height adjustments exports from Hong Kong SAR, comprising 69% of total exports. The second position in the ranking was held by Pakistan ($X), with a 4.6% share of total exports. It was followed by Macao SAR, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+14.8% per year) and Macao SAR (-14.4% per year).

Export Prices by Country

In 2022, the average swivel seat export price amounted to $X per unit, with an increase of 32% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2020 an increase of 33%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Pakistan ($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 China (+7.8%), while the prices for the other major destinations experienced a decline.

Swivel Seat Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of swivel seats with variable height adjustments decreased by -7.8% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a deep reduction. The pace of growth was the most pronounced in 2021 when imports increased by 18%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, swivel seat imports dropped markedly to $X in 2022. Overall, imports continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2021 with an increase of 50%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest swivel seat supplier to Hong Kong SAR, with a 83% share of total imports. Moreover, swivel seat imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+29.4% per year) and Taiwan (Chinese) (+12.0% per year).

In value terms, China ($X) constituted the largest supplier of swivel seats with variable height adjustments to Hong Kong SAR, comprising 54% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+33.2% per year) and Taiwan (Chinese) (+17.6% per year).

Import Prices by Country

In 2022, the average swivel seat import price amounted to $X per unit, with a decrease of -9.8% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, swivel seat import price increased by +14.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 31% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 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 Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :