China: Binocular Market 2022

Binocular Market Size in China

In 2021, the Chinese binocular market decreased by -26.5% to $X for the first time since 2013, thus ending a seven-year rising trend. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Binocular consumption peaked at $X in 2020, and then contracted rapidly in the following year.

Binocular Production in China

In value terms, binocular production totaled $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 12% against the previous year. Binocular production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Binocular Exports

Exports from China

In 2021, approx. X units of binoculars were exported from China; with an increase of 25% against the previous year's figure. In general, exports, however, saw a abrupt contraction. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, binocular exports soared to $X in 2021. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for binocular exports from China, accounting for a 33% share of total exports. Moreover, binocular exports to the United States exceeded the volume sent to the second major destination, Germany (X units), fivefold. India (X units) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.7% per year) and India (-10.1% per year).

In value terms, the United States ($X) remains the key foreign market for binocular exports from China, comprising 42% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 16% share of total exports. It was followed by Germany, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+16.7% per year) and Germany (+3.3% per year).

Export Prices by Country

In 2021, the average binocular export price amounted to $X per unit, rising by 20% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, binocular export price increased by +123.5% against 2012 indices. The most prominent rate of growth was recorded in 2014 an increase of 21%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to India ($X 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 Hong Kong SAR (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Binocular Imports

Imports into China

In 2021, the amount of binoculars imported into China soared to X units, rising by 139% compared with the previous year's figure. In general, imports, however, continue to indicate a mild descent. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, binocular imports soared to $X in 2021. Overall, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), Germany (X units) and Japan (X units) were the main suppliers of binocular imports to China, together accounting for 82% of total imports.

From 2012 to 2021, the biggest increases were in Taiwan (Chinese) (with a CAGR of +79.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Taiwan (Chinese) ($X) and Japan ($X) were the largest binocular suppliers to China, with a combined 74% share of total imports.

Taiwan (Chinese), with a CAGR of +79.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average binocular import price amounted to $X per unit, with an increase of 1.6% against the previous year. In general, the import price showed a slight expansion. The most prominent rate of growth was recorded in 2015 an increase of 77% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+25.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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