China: Video Game Console Market 2023

Video Game Console Market Size in China

For the third year in a row, the Chinese video game console market recorded decline in sales value, which decreased by -60% to $X in 2022. In general, consumption faced a sharp contraction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Video Game Console Production in China

In value terms, video game console production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 15%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Video Game Console Exports

Exports from China

For the third year in a row, China recorded growth in overseas shipments of video game consoles (not operated by means of payments), which increased by 7.1% to X units in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.1% 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 +67.0% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 42%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, video game console exports surged to $X in 2022. Over the period under review, exports showed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 47% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for video game console exports from China, accounting for a 18% share of total exports. Moreover, video game console exports to the United States exceeded the volume sent to the second major destination, Japan (X units), fivefold. The third position in this ranking was held by the UK (X units), with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.2% per year) and the UK (+6.9% per year).

In value terms, the United States ($X) remains the key foreign market for video game consoles (not operated by means of payments) exports from China, comprising 43% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total exports. It was followed by Japan, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+21.7% per year) and Japan (+2.9% per year).

Export Prices by Country

In 2022, the average video game console export price amounted to $X per unit, rising by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2017 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Singapore ($X 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 Poland (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Video Game Console Imports

Imports into China

In 2022, approx. X units of video game consoles (not operated by means of payments) were imported into China; increasing by 20% on 2021 figures. Over the period under review, imports showed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 174%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, video game console imports skyrocketed to $X in 2022. Overall, imports showed a remarkable increase. The growth pace was the most rapid in 2015 when imports increased by 113%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Vietnam (X units) constituted the largest supplier of video game console to China, with a 23% share of total imports. Moreover, video game console imports from Vietnam exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 1.4% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at +35.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.8% per year) and the United States (+14.2% per year).

In value terms, Japan ($X) constituted the largest supplier of video game consoles (not operated by means of payments) to China, comprising 21% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 9.7% share of total imports. It was followed by the United States, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+49.3% per year) and the United States (+39.3% per year).

Import Prices by Country

In 2022, the average video game console import price amounted to $X per unit, surging by 69% against the previous year. In general, the import price, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 79% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+31.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :