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4 Best Import-Export Business Ideas to Start in 2023
Electric Vehicles, Physical Therapy Devices, Energy Storage and E-Cigarettes
Internet technology is making the economy more accessible and global. This presents an opportunity even for business starter to expand out into the world. As the trade war between China and USA is de-escalating, many promising Chinese industries are poised to export more goods to the US market in 2023.
China remains the best sourcing origin for importers from America, Europe and the Middle East seeking affordable, quality goods. Made-in-China products leverage efficient supply chains and low-cost labor to offer competitive pricing. Especially in industries where it dominates like EVs, massage guns, batteries and e-cigarettes: Four of the best opportunities are electric vehicles (EVs), physical therapy devices, energy storage systems and electronic cigarettes (e-cigarettes).
Electric Vehicles: The ev industry has been growing rapidly in recent years. China dominates the global EV market with over 1.3 million EVs sold in 2020, accounting for about half of the global market. EV industry includes battery electric vehicles (BEVs) like the Tesla Model 3, plug-in hybrid electric vehicles (PHEVs) like the Toyota Prius Prime, and hybrid electric vehicles (HEVs) like the Toyota Camry Hybrid. China is the world’s largest producer of EVs. US EV sales may increase 30% annually through 2025. This represents an exciting opportunity for Chinese EV manufacturers to enter the US market. With more affordable and high-quality EVs (Including electric motorcycle like Koppla, electric bikes like OUXI ebike, electric scooters like HX Scooter), Chinese brands are well positioned to gain more market share in the US and witness a surge in exports.
Healthcare - Physical Therapy
Physical Therapy: Chinese massage gun factories produce 95% of the world’s devices. Major brands like Renpho and Relxbit Mini are selling strongly in the US, where the market may reach $581 million by 2025, up 10.8% annually. Low-cost, innovative massage guns from China can meet fast-growing US physical therapy demand. Newer models offer multiple speeds, depths and applications.
Energy Storage Systems
Energy Storage: China leads in lithium-ion batteries and energy storage. Suppliers like CATL and BYD provide over 60% of global EV batteries and build more US battery storage plants. The US market may grow 6.5% annually to $71 billion by 2030, indicating opportunities for large, low-cost batteries from China. New generations offer higher energy density, faster charging and longer lifespans.
E-Cigarettes: As vaping becomes more popular globally, the electronic cigarette industry in China has been booming. China now produces about 95% of the world’s e-cigarettes, including leading brands like RELX, HQD and R&M Vape. They are gaining more US market share, with sales up 250% in 2020. The US e-cig market may reach $29 billion by 2025, up 25% annually. Massive output and low costs position Chinese companies to substantially increase US exports and build brands in this lucrative market. Newer disposable vape models like Tornado Vape offer higher nicotine salt concentrations, more flavor varieties and longer battery lives.
Overall, China continues to be an competitive sourcing destination for most importers, especially in industries where it dominates like EVs, Physical therapy, power station batteries and disposable vapes. With strong manufacturing and booming domestic demand, Made in China are poised to boost US exports in 2023 and beyond. They provide quality, affordable options for US buyers seeking to source from China. With newer, higher-performance products released regularly, China offer the best prospects for US importers and buyers sourcing high-quality, affordable and profitable goods from first-hand manufacturer.