Asia-Pacific: Video Game Console Market 2023

Video Game Console Market Size in Asia-Pacific

In 2022, the Asia-Pacific video game console market was finally on the rise to reach $X after two years of decline. In general, consumption, however, recorded a noticeable reduction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Video Game Console Production in Asia-Pacific

In value terms, video game console production surged to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +72.0% against 2019 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Video Game Console Exports

Exports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in shipments abroad of video game consoles (not operated by means of payments), which increased by 7.4% to X units in 2022. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.1% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 31%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, video game console exports soared to $X in 2022. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

China prevails in exports structure, reaching X units, which was near 86% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), achieving a 7.4% share of total exports. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to video game console exports from China stood at +7.1%. At the same time, Vietnam (+64.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +64.3% from 2012-2022. By contrast, Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Vietnam increased by +10 and +3.6 percentage points, respectively.

In value terms, China ($X) remains the largest video game console supplier in Asia-Pacific, comprising 80% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.2% share of total exports.

In China, video game console exports increased at an average annual rate of +9.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-3.3% per year) and Vietnam (+62.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, with an increase of 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. The level of export peaked in 2022 and is likely to continue 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 China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the other leaders experienced a decline in the export price figures.

Video Game Console Imports

Imports in Asia-Pacific

In 2022, purchases abroad of video game consoles (not operated by means of payments) increased by 11% to X units, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 75%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, video game console imports surged to $X in 2022. In general, imports saw temperate growth. The pace of growth was the most pronounced in 2017 when imports increased by 103%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Japan represented the key importer of video game consoles (not operated by means of payments) in Asia-Pacific, with the volume of imports recording X units, which was approx. 41% of total imports in 2022. It was distantly followed by Hong Kong SAR (X units), Australia (X units), Singapore (X units), South Korea (X units) and China (X units), together achieving a 48% share of total imports. Taiwan (Chinese) (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to video game console imports into Japan stood at +2.8%. At the same time, China (+20.0%), South Korea (+10.8%) and Taiwan (Chinese) (+6.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +20.0% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Singapore (-5.7%) and Hong Kong SAR (-10.6%) illustrated a downward trend over the same period. While the share of Japan (+15 p.p.), China (+4.4 p.p.), South Korea (+4.3 p.p.), Australia (+2.5 p.p.) and Taiwan (Chinese) (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-3.4 p.p.) and Hong Kong SAR (-25.8 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported video game consoles (not operated by means of payments) in Asia-Pacific, comprising 40% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by China, with a 14% share.

In Japan, video game console imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.7% per year) and China (+16.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, growing by 5.1% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, video game console import price increased by +68.0% against 2015 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by 16% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual 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 China ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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