Hong Kong SAR, China: Market for Ballasts For Discharge Lamps Or Tubes 2024

Market Size for Ballasts For Discharge Lamps Or Tubes in Hong Kong SAR, China

In 2021, the Hong Kong ballast for discharge lamp market increased by 44% to $X, rising for the second year in a row after five years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Ballasts For Discharge Lamps Or Tubes in Hong Kong SAR, China

In value terms, ballast for discharge lamp production declined to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 293% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Ballasts For Discharge Lamps Or Tubes

Exports from Hong Kong SAR, China

In 2021, overseas shipments of ballasts for discharge lamps or tubes decreased by -15.9% to X units, falling for the third consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 21% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ballast for discharge lamp exports expanded sharply to $X in 2021. In general, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2014 when exports increased by 16% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for ballast for discharge lamp exports from Hong Kong SAR, accounting for a 58% share of total exports. Moreover, ballast for discharge lamp exports to China exceeded the volume sent to the second major destination, the United States (X units), fourfold. Canada (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.7% per year) and Canada (+6.6% per year).

In value terms, China ($X) remains the key foreign market for ballast for discharge lamp exports from Hong Kong SAR, comprising 45% of total exports. The second position in the ranking was held by the United States ($X), with a 22% share of total exports. It was followed by Canada, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value to China stood at -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.6% per year) and Canada (-8.5% per year).

Export Prices by Country

In 2021, the average ballast for discharge lamp export price amounted to $X per unit, jumping by 36% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2013 an increase of 42%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Mexico ($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 China (+1.1%), while the prices for the other major destinations experienced a decline.

Imports of Ballasts For Discharge Lamps Or Tubes

Imports into Hong Kong SAR, China

In 2021, purchases abroad of ballasts for discharge lamps or tubes decreased by -6% to X units, falling for the sixth year in a row after four years of growth. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 61% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, ballast for discharge lamp imports rose sharply to $X in 2021. Over the period under review, imports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of ballast for discharge lamp to Hong Kong SAR, accounting for a 90% share of total imports. Moreover, ballast for discharge lamp imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Germany (X units), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.4% per year) and Germany (-9.5% per year).

In value terms, China ($X) constituted the largest supplier of ballast for discharge lamp to Hong Kong SAR, comprising 85% of total imports. The second position in the ranking was held by Italy ($X), with a 4.2% share of total imports. It was followed by the United States, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.8% per year) and the United States (-26.6% per year).

Import Prices by Country

The average ballast for discharge lamp import price stood at $X per unit in 2021, with an increase of 22% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 56% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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