Hong Kong SAR, China: Electric Water Heater Market 2025

Electric Water Heater Market Size in Hong Kong SAR, China

The Hong Kong electric water heater market fell to $X in 2022, waning by -4.5% against the previous year. In general, consumption showed a mild setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Electric Water Heater Production in Hong Kong SAR, China

In value terms, electric water heater production declined modestly to $X in 2022 estimated in export price. In general, production recorded a mild slump. The most prominent rate of growth was recorded in 2014 with an increase of 901%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Electric Water Heater Exports

Exports from Hong Kong SAR, China

In 2022, approx. X units of electric water heaters and immersion heaters were exported from Hong Kong SAR; waning by -31.6% compared with the previous year. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 118% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric water heater exports surged to $X in 2022. Overall, exports showed a perceptible descent. The pace of growth appeared the most rapid in 2016 with an increase of 21% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X units), Macao SAR (X units) and the United States (X units) were the main destinations of electric water heater exports from Hong Kong SAR, with a combined 88% share of total exports. France, Australia and the UK lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +41.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric water heater exported from Hong Kong SAR were China ($X), Macao SAR ($X) and France ($X), with a combined 94% share of total exports.

France, with a CAGR of +28.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 water heater export price amounted to $X per unit, surging by 70% against the previous year. In general, the export price showed a resilient increase. The growth pace was the most rapid in 2021 an increase of 71% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to the UK ($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 Macao SAR (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of electric water heaters and immersion heaters were imported into Hong Kong SAR; which is down by -10.6% compared with the previous year. Over the period under review, imports continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2013 with an increase of 225%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, electric water heater imports shrank to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 298% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and Thailand (X units) were the main suppliers of electric water heater imports to Hong Kong SAR, together comprising 91% of total imports. Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 7.8%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +34.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric water heater suppliers to Hong Kong SAR were China ($X), Germany ($X) and Thailand ($X), together comprising 85% of total imports. Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 9.1%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +36.9%, 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 electric water heater import price amounted to $X per unit, almost unchanged from the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric water heater import price increased by +37.1% against 2015 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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