Hong Kong SAR, China: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Hong Kong SAR, China

After four years of growth, the Hong Kong electric heating resistor market decreased by -39.4% to $X in 2021. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Heating Resistor Production in Hong Kong SAR, China

In value terms, electric heating resistor production contracted to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.3% against 2015 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 128%. Electric heating resistor production peaked at $X in 2020, and then fell in the following year.

Electric Heating Resistor Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of electric heating resistors was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a noticeable downturn. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electric heating resistor exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for electric heating resistor exports from Hong Kong SAR, accounting for a 69% share of total exports. Moreover, electric heating resistor exports to China exceeded the volume sent to the second major destination, Japan (X units), fivefold. The United States (X units) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.7% per year) and the United States (+6.0% per year).

In value terms, China ($X) remains the key foreign market for electric heating resistors exports from Hong Kong SAR, comprising 69% of total exports. The second position in the ranking was taken by Japan ($X), with a 14% share of total exports. It was followed by the United States, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+13.7% per year) and the United States (+10.9% per year).

Export Prices by Country

In 2021, the average electric heating resistor export price amounted to $X per unit, leveling off at the previous year. Over the last nine years, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2019 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then contracted slightly in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Singapore ($X per unit) and Taiwan (Chinese) ($X per unit), while the average price for exports to France ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of electric heating resistors decreased by -43.1% to X units, falling for the second year in a row after two years of growth. Overall, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 14%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, electric heating resistor imports expanded significantly to $X in 2021. In general, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 25%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electric heating resistor supplier to Hong Kong SAR, with a 62% share of total imports. Moreover, electric heating resistor imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was taken by Italy (X units), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.0% per year) and Italy (+4.7% per year).

In value terms, China ($X) constituted the largest supplier of electric heating resistors to Hong Kong SAR, comprising 62% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Italy, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.5% per year) and Italy (+14.9% per year).

Import Prices by Country

In 2021, the average electric heating resistor import price amounted to $X per unit, growing by 86% against the previous year. In general, the import price enjoyed a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per unit) and Germany ($X per unit), while the price for China ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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