Hong Kong SAR, China: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2025

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Hong Kong SAR, China

The Hong Kong electric oven and cooker market declined to $X in 2022, waning by -1.9% 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, however, recorded a relatively flat trend pattern. Electric oven and cooker consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Hong Kong SAR, China

In 2022, overseas shipments of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by -74.6% to X units, falling for the fourth year in a row after two years of growth. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2017 when exports increased by 61%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, electric oven and cooker exports fell notably to $X in 2022. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 80% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for electric oven and cooker exports from Hong Kong SAR, with a 43% share of total exports. Moreover, electric oven and cooker exports to the United States exceeded the volume sent to the second major destination, Turkey (X units), fivefold. Japan (X units) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+69.1% per year) and Japan (-15.4% per year).

In value terms, the United States ($X), the United Arab Emirates ($X) and Macao SAR ($X) appeared to be the largest markets for electric oven and cooker exported from Hong Kong SAR worldwide, with a combined 52% share of total exports. Turkey, Japan, China, Singapore, Thailand, Canada, Colombia and Mexico lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Turkey, with a CAGR of +77.8%, 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 electric oven and cooker export price amounted to $X per unit, surging by 46% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric oven and cooker export price increased by +114.4% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Mexico ($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 China (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Hong Kong SAR, China

In 2022, approx. X units of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters were imported into Hong Kong SAR; which is down by -57.2% against 2021. In general, imports showed a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by 28% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electric oven and cooker imports dropped dramatically to $X in 2022. Overall, imports saw a pronounced decline. The pace of growth was the most pronounced in 2021 with an increase of 13%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest electric oven and cooker supplier to Hong Kong SAR, accounting for a 90% share of total imports. It was followed by Japan (X units), with a 2.9% share of total imports. Thailand (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.4% per year) and Thailand (-11.8% per year).

In value terms, China ($X) constituted the largest supplier of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was held by Japan ($X), with a 9.9% share of total imports. It was followed by Thailand, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.9% per year) and Thailand (-7.7% per year).

Import Prices by Country

In 2022, the average electric oven and cooker import price amounted to $X per unit, increasing by 44% against the previous year. Over the period under review, the import price saw a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+38.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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