Hong Kong SAR, China: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in the Hong Kong tennis and badminton rackets market, when its value decreased by -52.9% to $X. Overall, consumption saw a abrupt setback. Over the period under review, the market attained the peak level at $X in 2021, and then contracted rapidly in the following year.

Production of Tennis, Badminton Or Similar Rackets in Hong Kong SAR, China

In value terms, tennis and badminton rackets production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2013 when the production volume increased by 4.8% against the previous year. Tennis and badminton rackets production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Tennis, Badminton Or Similar Rackets

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in shipments abroad of tennis, badminton or similar rackets, which decreased by -31.1% to X units in 2022. Overall, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 31%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tennis and badminton rackets exports contracted sharply to $X in 2022. In general, exports showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 44%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), India (X units) and Singapore (X units) were the main destinations of tennis and badminton rackets exports from Hong Kong SAR, together accounting for 58% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +7.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) emerged as the key foreign market for tennis, badminton or similar rackets exports from Hong Kong SAR, comprising 29% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Singapore, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value to China stood at -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+10.7% per year) and Singapore (+3.6% per year).

Export Prices by Country

The average tennis and badminton rackets export price stood at $X per unit in 2022, falling by -3.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 46% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to South Korea ($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 Australia (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tennis, Badminton Or Similar Rackets

Imports into Hong Kong SAR, China

In 2022, after three years of growth, there was significant decline in overseas purchases of tennis, badminton or similar rackets, when their volume decreased by -55.9% to X units. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 22%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tennis and badminton rackets imports declined markedly to $X in 2022. Overall, imports recorded a deep reduction. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of tennis and badminton rackets to Hong Kong SAR, accounting for a 96% share of total imports. It was followed by Singapore (X units), with a 2.3% share of total imports. The third position in this ranking was taken by Japan (X units), with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-3.1% per year) and Japan (-24.4% per year).

In value terms, China ($X) constituted the largest supplier of tennis, badminton or similar rackets to Hong Kong SAR, comprising 81% of total imports. The second position in the ranking was taken by Singapore ($X), with a 14% share of total imports. It was followed by Japan, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-2.3% per year) and Japan (-23.2% per year).

Import Prices by Country

In 2022, the average tennis and badminton rackets import price amounted to $X per unit, with a decrease of -2.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 26%. 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 Singapore ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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