Hong Kong SAR, China - Microphones And Their Stands - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHong Kong's October 2023 Export of Microphones Plummets 14% to $31M
Hong Kong Microphone Exports
In October 2023, overseas shipments of microphones and their stands decreased by -30.4% to 60M units, falling for the second consecutive month after two months of growth. Overall, exports recorded a slight reduction. The growth pace was the most rapid in March 2023 when exports increased by 133% m-o-m. As a result, the exports attained the peak of 132M units. From April 2023 to October 2023, the growth of the exports failed to regain momentum.
In value terms, microphone exports declined to $31M (IndexBox estimates) in October 2023. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 with an increase of 125% m-o-m. As a result, the exports reached the peak of $54M. From April 2023 to October 2023, the growth of the exports remained at a lower figure.
| COUNTRY | Export Value of Microphone in Hong Kong (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
| China | 18.6 | 16.4 | 13.9 | 9.9 | 13.9 | 41.6 | 14.3 | 18.6 | 15.5 | 19.3 | 25.8 | 23.5 | 19.7 |
| Vietnam | 2.1 | 1.9 | 1.8 | 1.2 | 2.0 | 2.4 | 1.6 | 2.0 | 2.2 | 2.1 | 2.1 | 3.1 | 2.5 |
| Others | 7.4 | 9.3 | 8.1 | 7.9 | 8.2 | 10.4 | 8.2 | 9.0 | 8.3 | 8.4 | 7.8 | 9.5 | 8.7 |
| Total | 28.1 | 27.6 | 23.7 | 19.0 | 24.1 | 54.4 | 24.1 | 29.7 | 26.0 | 29.8 | 35.6 | 36.1 | 31.0 |
Exports by Country
China (48M units) was the main destination for microphone exports from Hong Kong, with a 80% share of total exports. Moreover, microphone exports to China exceeded the volume sent to the second major destination, Vietnam (8.1M units), sixfold.
From October 2022 to October 2023, the average monthly growth rate of volume to China was relatively modest.
In value terms, China ($20M) remains the key foreign market for microphone exports from Hong Kong, comprising 64% of total exports. The second position in the ranking was held by Vietnam ($2.5M), with an 8.1% share of total exports.
From October 2022 to October 2023, the average monthly rate of growth in terms of value to China was relatively modest.
Export Prices by Country
In October 2023, the microphone price stood at $512 per thousand units (FOB, Hong Kong), surging by 23% against the previous month. Overall, export price indicated a measured expansion from October 2022 to October 2023: its price increased at an average monthly rate of +2.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, microphone export price increased by +37.6% against August 2023 indices. The pace of growth was the most pronounced in January 2023 when the average export price increased by 92% m-o-m. As a result, the export price attained the peak level of $671 per thousand units. From February 2023 to October 2023, the the average export prices remained at a lower figure.
Average prices varied somewhat for the major external markets. In October 2023, the country with the highest price was China ($409 per thousand units), while the average price for exports to Vietnam totaled $311 per thousand units.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+4.6%).
This report provides an in-depth analysis of the microphone market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26404100 - Microphones and their stands (excluding cordless microphones with a transmitter)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
