Hong Kong SAR, China: Market for Tyres For Motorcycles or Bicycles 2024

Market Size for Tyres For Motorcycles or Bicycles in Hong Kong SAR, China

In 2022, the Hong Kong motorcycle or bicycle tyre market decreased by X% to $X, falling for the third consecutive year after two years of growth. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Motorcycle or bicycle tyre consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Tyres For Motorcycles or Bicycles in Hong Kong SAR, China

In value terms, motorcycle or bicycle tyre production contracted to $X in 2022 estimated in export price. In general, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Motorcycle or bicycle tyre production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Tyres For Motorcycles or Bicycles

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas shipments of tyres for motorcycles or bicycles, when their volume decreased by X% to X units. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, motorcycle or bicycle tyre exports reduced to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for motorcycle or bicycle tyre exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, motorcycle or bicycle tyre exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, China (X units), sevenfold. The third position in this ranking was taken by Macao SAR (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Macao SAR (X% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for tyres for motorcycles or bicycles exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and China (X% per year).

Export Prices by Country

The average motorcycle or bicycle tyre export price stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the near future.

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

Imports of Tyres For Motorcycles or Bicycles

Imports into Hong Kong SAR, China

After three years of growth, purchases abroad of tyres for motorcycles or bicycles decreased by X% to X units in 2022. In general, imports recorded a perceptible contraction. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, motorcycle or bicycle tyre imports contracted to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Indonesia (X units) constituted the largest motorcycle or bicycle tyre supplier to Hong Kong SAR, with a X% share of total imports. Moreover, motorcycle or bicycle tyre imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Japan (X units) ranked third in terms of total imports with a X% share.

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

In value terms, the largest motorcycle or bicycle tyre suppliers to Hong Kong SAR were Indonesia ($X), Germany ($X) and Japan ($X), with a combined X% share of total imports. Spain, China, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average motorcycle or bicycle tyre import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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