Hong Kong SAR, China - Electric Water Heaters And Immersion Heaters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingDecline in Import of Electric Water Heaters to $1.4M Recorded in Hong Kong by September 2023
Hong Kong Electric Water Heater Imports
In September 2023, approximately 14K units of electric water heaters and immersion heaters were imported into Hong Kong; reducing by -17.9% on August 2023 figures. In general, imports, however, showed a slight increase. The pace of growth was the most pronounced in May 2023 with an increase of 82% against the previous month. As a result, imports attained the peak of 29K units. From June 2023 to September 2023, the growth of imports failed to regain momentum.
In value terms, electric water heater imports declined to $1.4M (IndexBox estimates) in September 2023. Overall, imports saw a slight curtailment. The most prominent rate of growth was recorded in March 2023 with an increase of 109% m-o-m. Imports peaked at 2.6M units in December 2022; however, from January 2023 to September 2023, imports stood at a somewhat lower figure.
| COUNTRY | Import Value of Electric Water Heater in Hong Kong (thousand USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | |
| Germany | 403 | 236 | 498 | 915 | 542 | N/A | 1,089 | 896 | 1,041 | 1,140 | 1,421 | 743 | 907 |
| China | 854 | 774 | 1,307 | 1,118 | 962 | 641 | 692 | 630 | 494 | 535 | 546 | 549 | 340 |
| Thailand | N/A | 109 | 73.9 | 97.4 | 96.4 | 89.6 | N/A | 94.1 | 187 | 33.2 | 158 | 143 | 64.9 |
| Japan | 110 | 0.1 | 23.8 | 155 | N/A | 201 | 159 | 22.7 | N/A | 21.4 | N/A | 19.8 | 21.3 |
| Others | 225 | 61.3 | 509 | 266 | 117 | 56.0 | 121 | 221 | 79.4 | 86.0 | 164 | 49.3 | 31.4 |
| Total | 1,592 | 1,180 | 2,412 | 2,551 | 1,717 | 988 | 2,061 | 1,863 | 1,801 | 1,816 | 2,289 | 1,504 | 1,365 |
Imports by Country
China (6.4K units), Germany (5.9K units) and Thailand (930 units) were the main suppliers of electric water heater imports to Hong Kong, with a combined 97% share of total imports.
From September 2022 to September 2023, the biggest increases were in Germany (with a CAGR of +6.9%), while purchases for the other leaders experienced a decline.
In value terms, Germany ($907K) constituted the largest supplier of electric water heater to Hong Kong, comprising 66% of total imports. The second position in the ranking was taken by China ($340K), with a 25% share of total imports. It was followed by Thailand, with a 4.8% share.
From September 2022 to September 2023, the average monthly growth rate of value from Germany stood at +7.0%. The remaining supplying countries recorded the following average monthly rates of imports growth: China (-7.4% per month) and Thailand (-4.6% per month).
Import Prices by Country
In September 2023, the electric water heater price amounted to $101 per unit (CIF, Hong Kong), growing by 11% against the previous month. In general, the import price, however, saw a perceptible reduction. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 118% m-o-m. The import price peaked at $176 per unit in November 2022; however, from December 2022 to September 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($155 per unit), while the price for China ($53.3 per unit) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Thailand (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the electric water heater 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 27512530 - Electric instantaneous water heaters
- Prodcom 27512550 -
- Prodcom 27512570 -
- Prodcom 27512560 - Electric water heaters and immersion heaters (excluding instantaneous water heaters)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
