Hong Kong SAR, China: Metal Broaching Machine Market 2024

Metal Broaching Machine Market Size in Hong Kong SAR, China

The Hong Kong metal broaching machine market expanded markedly to $X in 2021, growing by 6.5% against the previous year. Overall, consumption, however, continues to indicate a slight shrinkage. Metal broaching machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Metal Broaching Machine Production in Hong Kong SAR, China

In value terms, metal broaching machine production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production showed a perceptible decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 5.5%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Metal Broaching Machine Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of broaching machines for working metal were finally on the rise to reach X units after two years of decline. Overall, exports, however, recorded a noticeable decline. The growth pace was the most rapid in 2018 with an increase of 3,425%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, metal broaching machine exports soared to $X in 2021. In general, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 4,283% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Bulgaria (X units) was the main destination for metal broaching machine exports from Hong Kong SAR, accounting for a approx. 33% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria was relatively modest.

In value terms, China ($X) remains the key foreign market for broaching machines for working metal exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was held by India ($X), with a 6% share of total exports. It was followed by Pakistan, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to China stood at -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-7.6% per year) and Pakistan (-20.1% per year).

Export Prices by Country

In 2021, the average metal broaching machine export price amounted to $X per unit, waning by -10.5% against the previous year. In general, the export price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by 40%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Cyprus ($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 (+22.2%), while the prices for the other major destinations experienced a decline.

Metal Broaching Machine Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of broaching machines for working metal was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 6,600%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, metal broaching machine imports soared to $X in 2021. Overall, imports showed a significant increase. The growth pace was the most rapid in 2015 with an increase of 3,369%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the UK (X units) was the main metal broaching machine supplier to Hong Kong SAR, accounting for a approx. 94% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to -7.8%.

In value terms, Japan ($X) constituted the largest supplier of broaching machines for working metal to Hong Kong SAR, comprising 87% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.2% share of total imports. It was followed by China, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +118.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+31.3% per year) and China (+15.4% per year).

Import Prices by Country

In 2021, the average metal broaching machine import price amounted to $X per unit, with an increase of 25% against the previous year. Overall, the import price, however, showed a mild descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 150% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+119.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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