Hong Kong SAR, China: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Hong Kong SAR, China

The Hong Kong electric soldering iron market shrank markedly to $X in 2022, reducing by X% 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). Over the period under review, consumption showed a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Electric Soldering Iron Exports

Exports from Hong Kong SAR, China

In 2022, the amount of electric soldering irons and guns exported from Hong Kong SAR shrank significantly to X units, falling by X% on the previous year. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, electric soldering iron exports dropped sharply to $X in 2022. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), the United States (X units) and China (X units) were the main destinations of electric soldering iron exports from Hong Kong SAR, together comprising X% of total exports. The Netherlands, Sweden, Australia, Belgium and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for electric soldering irons and guns exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average electric soldering iron export price amounted to $X per unit, picking up by X% against the previous year. Overall, the export price showed a resilient increase. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

Electric Soldering Iron Imports

Imports into Hong Kong SAR, China

In 2022, the amount of electric soldering irons and guns imported into Hong Kong SAR declined remarkably to X units, reducing by X% against the previous year. Overall, imports continue to indicate a deep slump. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, electric soldering iron imports shrank rapidly to $X in 2022. In general, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main electric soldering iron supplier to Hong Kong SAR, with a X% share of total imports. Moreover, electric soldering iron imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest electric soldering iron suppliers to Hong Kong SAR were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average electric soldering iron import price amounted to $X per unit, increasing by X% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric soldering iron import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: 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) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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