Hong Kong SAR, China: Market for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam 2024

Market Size for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Hong Kong SAR, China

The Hong Kong market for central heating boilers, for producing hot water or low pressure steam was estimated at $X in 2022, leveling off at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Hong Kong SAR, China

In value terms, production of central heating boilers, for producing hot water or low pressure steam reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 20% against the previous year. Over the period under review, production of reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in shipments abroad of central heating boilers, for producing hot water or low pressure steam, when their volume decreased by -9% to X units. Overall, exports continue to indicate a precipitous decline. The growth pace was the most rapid in 2015 when exports increased by 3,667% against the previous year. Over the period under review, the exports of reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam fell to $X in 2022. Over the period under review, exports saw a precipitous setback. The most prominent rate of growth was recorded in 2015 when exports increased by 3,832% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X units) was the main destination for exports of central heating boilers, for producing hot water or low pressure steam from Hong Kong SAR, with a 78% share of total exports. Moreover, exports of central heating boilers, for producing hot water or low pressure steam to Hungary exceeded the volume sent to the second major destination, Russia (X units), more than tenfold. The third position in this ranking was taken by China (X units), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-41.4% per year) and China (-21.0% per year).

In value terms, Hungary ($X) emerged as the key foreign market for central heating boilers, for producing hot water or low pressure steam exports from Hong Kong SAR, comprising 85% of total exports. The second position in the ranking was held by China ($X), with a 5.5% share of total exports. It was followed by Russia, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-24.2% per year) and Russia (-42.0% per year).

Export Prices by Country

The average export price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2013 when the average export price increased by 37%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, 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 Hungary ($X per unit), while the average price for exports to Indonesia ($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 Russia (-1.1%), while the prices for the other major destinations experienced a decline.

Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Imports into Hong Kong SAR, China

In 2022, purchases abroad of central heating boilers, for producing hot water or low pressure steam decreased by -59.5% to X units, falling for the second consecutive year after two years of growth. Overall, imports saw a dramatic slump. The pace of growth appeared the most rapid in 2019 when imports increased by 217%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam dropped markedly to $X in 2022. Over the period under review, imports saw a precipitous setback. The pace of growth appeared the most rapid in 2019 when imports increased by 211%. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X units) constituted the largest central heating boilers, for producing hot water or low pressure steam supplier to Hong Kong SAR, with a 81% share of total imports. Moreover, imports of central heating boilers, for producing hot water or low pressure steam from Italy exceeded the figures recorded by the second-largest supplier, the UK (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-29.1% per year) and China (-25.6% per year).

In value terms, Italy ($X) constituted the largest supplier of central heating boilers, for producing hot water or low pressure steam to Hong Kong SAR, comprising 82% of total imports. The second position in the ranking was held by the UK ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Italy stood at -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-33.2% per year) and China (-22.4% per year).

Import Prices by Country

The average import price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, declining by -3.8% against the previous year. In general, the import price continues to indicate a mild decline. The pace of growth appeared the most rapid in 2021 when the average import price increased by 21% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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