Hong Kong SAR, China: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Hong Kong SAR, China

The Hong Kong trailer and semi-trailer market declined to $X in 2022, shrinking by -6.2% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Trailer And Semi-Trailer Production in Hong Kong SAR, China

In value terms, trailer and semi-trailer production reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 28% against the previous year. Trailer and semi-trailer production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Trailer And Semi-Trailer Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of cargo trailers and semi-trailers decreased by -8% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 111% against the previous year. As a result, the exports reached the peak of X units, and then contracted in the following year.

In value terms, trailer and semi-trailer exports contracted rapidly to $X in 2022. Over the period under review, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by 148%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Tanzania (X units), the Philippines (X units) and Mozambique (X units) were the main destinations of trailer and semi-trailer exports from Hong Kong SAR, with a combined 89% share of total exports. France and Norway lagged somewhat behind, together comprising a further 3.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +40.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for trailer and semi-trailer exported from Hong Kong SAR were the Philippines ($X), Tanzania ($X) and France ($X), together comprising 54% of total exports. Mozambique and Norway lagged somewhat behind, together accounting for a further 2.7%.

Among the main countries of destination, Norway, with a CAGR of +73.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average trailer and semi-trailer export price amounted to $X per unit, declining by -14.9% against the previous year. In general, the export price, however, recorded a perceptible expansion. The pace of growth appeared the most rapid in 2016 an increase of 122% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Mozambique ($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 Norway (+34.3%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into Hong Kong SAR, China

Trailer and semi-trailer imports into Hong Kong SAR reduced to X units in 2022, which is down by -7.5% on the year before. In general, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 89%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, trailer and semi-trailer imports declined to $X in 2022. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of trailer and semi-trailer to Hong Kong SAR, with a 89% share of total imports. Moreover, trailer and semi-trailer imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Australia (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.6% per year) and Australia (+9.6% per year).

In value terms, China ($X) constituted the largest supplier of cargo trailers and semi-trailers to Hong Kong SAR, comprising 83% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 1.2% share of total imports. It was followed by the United States, with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (0.0% per year) and the United States (+1.3% per year).

Import Prices by Country

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, waning by -3.9% against the previous year. Over the period under review, the import price, however, enjoyed perceptible growth. The pace of growth appeared the most rapid in 2014 an increase of 85% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform