Global Mobile Phone Market 2024

Mobile Phone Market Size

In 2022, the global mobile phone market increased by 7.3% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the global market reached the peak level in 2022 and is likely to continue growth in years to come.

Mobile Phone Production

In value terms, mobile phone production rose markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Global production peaked in 2022 and is likely to see gradual growth in the near future.

Mobile Phone Exports

Exports

Global mobile phone exports reduced remarkably to X units in 2022, dropping by -16.9% compared with 2021 figures. In general, exports saw a perceptible decrease. The pace of growth was the most pronounced in 2018 with an increase of 22% against the previous year. Over the period under review, the global exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, mobile phone exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 25% against the previous year. The global exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

China was the largest exporter of mobile phones in the world, with the volume of exports resulting at X units, which was approx. 59% of total exports in 2022. Hong Kong SAR (X units) ranks second in terms of the total exports with a 12% share, followed by Vietnam (9.6%). India (X units) and the United States (X units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to mobile phone exports from China stood at -1.9%. At the same time, Vietnam (+8.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.0% from 2012-2022. The United States and India experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.8%) illustrated a downward trend over the same period. Vietnam (+6.1 p.p.) and China (+2.7 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest mobile phone supplier worldwide, comprising 51% of global exports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of global exports. It was followed by Hong Kong SAR, with a 9.9% share.

In China, mobile phone exports expanded at an average annual rate of +5.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+15.2% per year) and Hong Kong SAR (+9.6% per year).

Export Prices by Country

The average mobile phone export price stood at $X per unit in 2022, growing by 15% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mobile phone export price increased by +43.2% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.8%), while the other global leaders experienced more modest paces of growth.

Mobile Phone Imports

Imports

In 2022, global imports of mobile phones reduced to X units, with a decrease of -8.9% on 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. Global imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, mobile phone imports fell to $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 20%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Hong Kong SAR (X units), distantly followed by the United States (X units) and the United Arab Emirates (X units) represented the major importers of mobile phones, together constituting 41% of total imports. South Africa (X units), Russia (X units), Germany (X units), Iran (X units), Japan (X units), Bangladesh (X units), Iraq (X units), Colombia (X units), Indonesia (X units) and the UK (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +37.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest mobile phone importing markets worldwide were the United States ($X), Hong Kong SAR ($X) and the United Arab Emirates ($X), together accounting for 39% of global imports. Japan, Germany, the UK, Russia, Indonesia, Iran, Colombia, Iraq, South Africa and Bangladesh lagged somewhat behind, together accounting for a further 21%.

In terms of the main importing countries, Iran, with a CAGR of +28.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average mobile phone import price amounted to $X per unit, increasing by 1.8% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mobile phone import price increased by +56.9% against 2013 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 13% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+7.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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