Report Update: May 1, 2024

Hong Kong SAR, China - Seats For Motor Vehicles - Market Analysis, Forecast, Size, Trends And Insights

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Vehicle Seat Price in Hong Kong SAR - 2023

Vehicle Seat Price in Hong Kong SAR (CIF) - 2022

The average vehicle seat import price stood at $227 per unit in 2022, picking up by 13% against the previous year. Overall, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 47%. The import price peaked in 2022 and is likely to continue 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 the UK ($458 per unit), while the price for Japan ($52 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Vehicle Seat Price in Hong Kong SAR (FOB) - 2022

The average vehicle seat export price stood at $152 per unit in 2022, picking up by 13% against the previous year. Overall, the export price posted slight growth. The most prominent rate of growth was recorded in 2016 an increase of 56%. Over the period under review, the average export prices hit record highs at $307 per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($444 per unit), while the average price for exports to Madagascar ($6.1 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 China (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.

Vehicle Seat Imports in Hong Kong SAR

In 2022, approx. 42K units of seats for motor vehicles were imported into Hong Kong SAR; increasing by 52% compared with the year before. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +5.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vehicle seat imports soared to $9.4M in 2022. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Vehicle Seat in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	3.5	3.9	4.0	3.5	0.0%
Malaysia	0.3	0.4	0.3	2.9	113.0%
Italy	N/A	0.1	0.2	2.0	347.2%
Japan	0.2	0.2	0.2	0.6	44.2%
United Kingdom	0.1	0.5	0.4	0.4	58.7%
Colombia	N/A	0.2	N/A	N/A	0%
Others	0.4	0.7	0.3	0.1	-37.0%
Total	4.6	5.8	5.5	9.4	26.9%

Top Suppliers of Vehicle Seat to Hong Kong SAR in 2022:

Malaysia (12.5K units)
Japan (10.9K units)
China (8.3K units)
Italy (8.2K units)
United Kingdom (0.9K units)

Vehicle Seat Exports in Hong Kong SAR

In 2022, shipments abroad of seats for motor vehicles decreased by -38.4% to 14K units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2021 with an increase of 94% against the previous year. As a result, the exports reached the peak of 23K units, and then fell significantly in the following year.

In value terms, vehicle seat exports declined dramatically to $2.2M in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 85% against the previous year. The exports peaked at $3.1M in 2021, and then fell rapidly in the following year.

Export of Vehicle Seat in Hong Kong SAR (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,299	2,133	2,440	1,815	11.8%
Malaysia	2.0	1.2	431	216	376.2%
Macao SAR	6.5	4.9	0.2	47.4	93.9%
United States	22.7	84.5	71.1	38.9	19.7%
Pakistan	5.1	1.2	2.8	14.3	41.0%
Madagascar	25.9	1.0	6.0	6.1	-38.2%
Thailand	0.8	4.2	5.6	5.8	93.5%
Others	300	837	164	35.6	-50.9%
Total	1,662	3,067	3,121	2,179	9.4%

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

Malaysia (6.9K units)
China (4.1K units)
Madagascar (1.0K units)
United States (0.8K units)
Thailand (0.5K units)
Macao SAR (0.4K units)
Pakistan (0.3K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vehicle 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

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