Hong Kong SAR, China: Shaft Coupling Market 2024

Shaft Coupling Market Size in Hong Kong SAR, China

The Hong Kong shaft coupling market fell to $X in 2022, declining by -6.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Shaft Coupling Exports

Exports from Hong Kong SAR, China

In 2022, after two years of decline, there was significant growth in shipments abroad of clutches and shaft couplings, when their volume increased by 22% to X tons. Overall, exports, however, continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, shaft coupling exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 when exports increased by 45%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for shaft coupling exports from Hong Kong SAR, with a 61% share of total exports. Moreover, shaft coupling exports to China exceeded the volume sent to the second major destination, Iran (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+2.7% per year) and Taiwan (Chinese) (+8.9% per year).

In value terms, China ($X) remains the key foreign market for clutches and shaft couplings exports from Hong Kong SAR, comprising 61% of total exports. The second position in the ranking was held by Iran ($X), with a 9.9% share of total exports. It was followed by Taiwan (Chinese), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+3.0% per year) and Taiwan (Chinese) (+8.4% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, which is down by -2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 9.9% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Vietnam ($X per ton), while the average price for exports to Uzbekistan ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Shaft Coupling Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of clutches and shaft couplings increased by 8.5% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 12%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, shaft coupling imports amounted to $X in 2022. In general, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of shaft coupling imports to Hong Kong SAR, with a combined 72% share of total imports. Japan, the UK and France lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +14.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) were the largest shaft coupling suppliers to Hong Kong SAR, with a combined 72% share of total imports. Japan, the UK and France lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, the UK, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average shaft coupling import price amounted to $X per ton, declining by -4.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 8.6%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were France ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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