Report Update: May 1, 2024

Hong Kong SAR, China - Seats - Market Analysis, Forecast, Size, Trends and Insights

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Seat Price in Hong Kong SAR - 2023

Seat Price in Hong Kong SAR (CIF) - 2023

The average seat import price stood at $47.5 per unit in September 2023, growing by 7.3% against the previous month. Over the period under review, the import price, however, continues to indicate a pronounced descent. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 113% month-to-month. As a result, import price attained the peak level of $76.0 per unit. From February 2023 to September 2023, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was China ($37.5 per unit), while the price for Japan totaled $30.6 per unit.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by China (-3.1%).

Seat Price in Hong Kong SAR (FOB) - 2022

The average seat export price stood at $23 per unit in 2021, waning by -32.8% against the previous year. In general, the export price showed a pronounced shrinkage. The growth pace was the most rapid in 2013 an increase of 41% against the previous year. The export price peaked at $41 per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($203 per unit), while the average price for exports to Sweden ($26 per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+33.4%), while the prices for the other major destinations experienced more modest paces of growth.

Seat Imports in Hong Kong SAR

In 2022, purchases abroad of seats decreased by -41.7% to 4.7M units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports recorded a slight slump. The pace of growth appeared the most rapid in 2021 when imports increased by 53%. As a result, imports reached the peak of 8.1M units, and then declined remarkably in the following year.

In value terms, seat imports totaled $264M in 2022. The total import value increased at an average annual rate of +7.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 36%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Import of Seat in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	129	131	174	16.1%
Malaysia	4.4	3.7	8.0	34.8%
Taiwan (Chinese)	2.3	1.5	2.4	2.2%
South Korea	0.8	0.8	2.4	73.2%
Others	75.5	57.2	77.1	1.1%
Total	212	194	263	11.4%

Top Suppliers of Seat to Hong Kong SAR in 2022:

China (3.6M units)
Malaysia (0.1M units)
South Korea (0.1M units)
Taiwan (Chinese) (0.1M units)

Seat Exports in Hong Kong SAR

Seat exports from Hong Kong SAR declined rapidly to 1.4M units in 2022, which is down by -69.6% on 2021 figures. Over the period under review, exports recorded a deep setback. The growth pace was the most rapid in 2021 with an increase of 183% against the previous year. As a result, the exports attained the peak of 4.4M units, and then shrank notably in the following year.

In value terms, seat exports reduced to $93M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +7.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 90%. As a result, the exports reached the peak of $104M, and then declined in the following year.

Export of Seat in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	22.5	22.7	44.9	41.3%
United States	8.1	5.7	35.4	109.1%
Taiwan (Chinese)	5.9	5.6	8.1	17.2%
South Korea	2.7	5.2	7.2	63.3%
Macao SAR	2.3	2.5	2.4	2.2%
Malaysia	0.5	0.1	0.9	34.2%
France	1.5	2.0	0.8	-27.0%
United Kingdom	1.8	1.5	0.6	-42.3%
Germany	4.3	1.3	0.2	-78.4%
Brazil	0.4	0.3	0.1	-50.0%
Netherlands	1.4	1.4	0.1	-73.3%
Israel	0.6	0.9	N/A	50.0%
Others	23.1	5.8	3.4	-61.6%
Total	75.0	54.8	104	17.8%

Top Export Markets for Seat from Hong Kong SAR in 2022:

United States (549.5K units)
China (259.1K units)
Taiwan (Chinese) (82.3K units)
South Korea (63.7K units)
Macao SAR (25.2K units)
Malaysia (17.1K units)
France (4.0K units)
United Kingdom (3.1K units)
Germany (2.5K units)
Brazil (0.7K units)
Israel (0.7K units)
Netherlands (0.7K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the seat 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 29321000 - Seats for motor vehicles
Prodcom 30305010 - Seats for aircraft, parts thereof
Prodcom 31001155 -
Prodcom 31001159 -
Prodcom 31001170 - Upholstered seats with metal frames (excluding swivel seats, m edical, surgical, dental or veterinary seats, barbers
Prodcom 31001190 - Non-upholstered seats with metal frames (excluding medical, s urgical, dental or veterinary seats, barbers
Prodcom 31001210 - Seats convertible into beds (excluding garden seats or camping equipment)
Prodcom 31001230 - Seats of cane, osier, bamboo or similar materials
Prodcom 31001250 - Upholstered seats with wooden frames (including three piece suites) (excluding swivel seats)
Prodcom 31001290 - Non-upholstered seats with wooden frames (excluding swivel seats)
Prodcom 31001300 - Other seats, of HS

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023