Hong Kong SAR, China: Electrical Insulator Market 2024

Electrical Insulator Market Size in Hong Kong SAR, China

The Hong Kong electrical insulator market amounted to $X in 2022, rising by 3.7% against the previous year. In general, consumption, however, posted a significant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Electrical Insulator Production in Hong Kong SAR, China

In value terms, electrical insulator production declined to $X in 2022 estimated in export price. In general, production, however, showed a mild increase. The growth pace was the most rapid in 2017 with an increase of 46%. Electrical insulator production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Electrical Insulator Exports

Exports from Hong Kong SAR, China

Electrical insulator exports from Hong Kong SAR shrank rapidly to X units in 2022, waning by -39.4% against the previous year's figure. Over the period under review, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2015 when exports increased by 50% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical insulator exports reduced remarkably to $X in 2022. Overall, exports saw a abrupt contraction. The growth pace was the most rapid in 2018 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for electrical insulator exports from Hong Kong SAR, with a 57% share of total exports. Moreover, electrical insulator exports to China exceeded the volume sent to the second major destination, India (X units), fivefold. Thailand (X units) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+81.7% per year) and Thailand (+9.6% per year).

In value terms, China ($X) remains the key foreign market for electrical insulators exports from Hong Kong SAR, comprising 43% of total exports. The second position in the ranking was taken by India ($X), with a 15% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to China totaled -8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+105.1% per year) and Thailand (+32.9% per year).

Export Prices by Country

The average electrical insulator export price stood at $X per unit in 2022, increasing by 12% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of 69%. Over the period under review, the average export prices reached 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 Thailand ($X per unit), while the average price for exports to China ($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 Thailand (+21.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulator Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of electrical insulators were imported into Hong Kong SAR; reducing by -31% against the previous year. In general, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2018 when imports increased by 57%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, electrical insulator imports shrank notably to $X in 2022. Overall, imports recorded a deep slump. The pace of growth was the most pronounced in 2021 when imports increased by 43% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X units), the UK (X units) and China (X units) were the main suppliers of electrical insulator imports to Hong Kong SAR, with a combined 80% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +23.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest electrical insulator suppliers to Hong Kong SAR were China ($X), Japan ($X) and the UK ($X), together accounting for 83% of total imports.

The UK, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average electrical insulator import price stood at $X per unit in 2022, falling by -43.5% against the previous year. Over the period under review, the import price saw a noticeable downturn. The pace of growth was the most pronounced in 2015 an increase of 24% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States ($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 (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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