Hong Kong SAR, China: Market for Electro-Thermic Appliances Or Domestic Purposes 2022

Market Size for Electro-Thermic Appliances Or Domestic Purposes in Hong Kong SAR, China

In 2021, the Hong Kong market for electro-thermic appliances or domestic purposes increased by 166% to $X, rising for the second year in a row after three years of decline. In general, consumption showed a perceptible expansion. Electro-thermic appliances or domestic purposes consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Electro-Thermic Appliances Or Domestic Purposes in Hong Kong SAR, China

In value terms, electro-thermic appliances or domestic purposes production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a precipitous descent. The pace of growth was the most pronounced in 2020 when the production volume increased by 19%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Electro-Thermic Appliances Or Domestic Purposes

Exports from Hong Kong SAR, China

In 2021, the amount of electro-thermic appliances or domestic purposes exported from Hong Kong SAR dropped to X units, shrinking by -3.9% on the previous year. Overall, exports, however, posted a temperate expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 313%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, electro-thermic appliances or domestic purposes exports surged to $X in 2021. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2013 with an increase of 489%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and Malaysia (X units) were the main destinations of electro-thermic appliances or domestic purposes exports from Hong Kong SAR, with a combined 65% share of total exports. Mexico, Russia, Italy, China, the Netherlands, the UK, Germany and Hungary lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +71.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for electro-thermic appliances or domestic purposes exports from Hong Kong SAR, comprising 45% of total exports. The second position in the ranking was taken by the United States ($X), with a 21% share of total exports. It was followed by China, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+20.2% per year) and China (+39.5% per year).

Export Prices by Country

The average export price for electro-thermic appliances or domestic purposes stood at $X per unit in 2021, with an increase of 31% against the previous year. In general, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +10.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electro-thermic appliances or domestic purposes export price increased by +66.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 43%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electro-Thermic Appliances Or Domestic Purposes

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of electro-thermic appliances or domestic purposes increased by 21% to X units, rising for the third year in a row after three years of decline. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 49% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, electro-thermic appliances or domestic purposes imports skyrocketed to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.2% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 35% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X units) was the main electro-thermic appliances or domestic purposes supplier to Hong Kong SAR, with a approx. 97% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of electro-thermic appliances or domestic purposes to Hong Kong SAR.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.6%.

Import Prices by Country

The average import price for electro-thermic appliances or domestic purposes stood at $X per unit in 2021, growing by 10% against the previous year. In general, the import price enjoyed prominent growth. The pace of growth was the most pronounced in 2018 an increase of 86%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +11.5% per year.

Source: IndexBox Platform

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