Hong Kong SAR, China: Check Valve Market 2024

Check Valve Market Size in Hong Kong SAR, China

The Hong Kong check valve market contracted sharply to $X in 2021, with a decrease of -49.7% against the previous year. Overall, consumption, however, saw strong growth. Check valve consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Check Valve Production in Hong Kong SAR, China

In value terms, check valve production fell rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 258%. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Check Valve Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of check valves for pipes, boiler shells, tanks and vats increased by 67% to X units, rising for the fifth year in a row after two years of decline. Overall, exports posted notable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, check valve exports surged to $X in 2021. Over the period under review, exports showed a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X units) was the main destination for check valve exports from Hong Kong SAR, with a 87% share of total exports. Moreover, check valve exports to China exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +1.3%.

In value terms, China ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Hong Kong SAR, comprising 87% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 6.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +2.6%.

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, waning by -30.6% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 an increase of 25% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then shrank sharply in the following year.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was Indonesia ($X per unit), while the average price for exports to China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.9%).

Check Valve Imports

Imports into Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded growth in overseas purchases of check valves for pipes, boiler shells, tanks and vats, which increased by 4.5% to X units in 2021. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 16%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, check valve imports expanded significantly to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +40.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 29% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United States (X units) constituted the largest check valve supplier to Hong Kong SAR, accounting for a 53% share of total imports. Moreover, check valve imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Germany (X units), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.3% per year) and Germany (-2.4% per year).

In value terms, the United States ($X) constituted the largest supplier of check valves for pipes, boiler shells, tanks and vats to Hong Kong SAR, comprising 53% of total imports. The second position in the ranking was held by China ($X), with a 25% share of total imports. It was followed by Germany, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.1% per year) and Germany (+1.0% per year).

Import Prices by Country

The average check valve import price stood at $X per unit in 2021, growing by 3.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2020 an increase of 11%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Malaysia ($X per unit) and the UK ($X per unit), while the price for China ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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