Hong Kong SAR, China: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Hong Kong SAR, China

The Hong Kong fire extinguisher market surged to $X in 2022, picking up by 39% against the previous year. In general, consumption saw a prominent expansion. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Fire Extinguisher Production in Hong Kong SAR, China

In value terms, fire extinguisher production rose significantly to $X in 2022 estimated in export price. Over the period under review, production showed a strong increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Fire Extinguisher Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of fire extinguishers decreased by -77% to X units, falling for the second year in a row after two years of growth. In general, exports showed a abrupt descent. The pace of growth was the most pronounced in 2013 when exports increased by 100%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, fire extinguisher exports fell sharply to $X in 2022. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 92% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for fire extinguisher exports from Hong Kong SAR, with a 704% share of total exports. Moreover, fire extinguisher exports to China exceeded the volume sent to the second major destination, Macao SAR (X units), threefold. The third position in this ranking was taken by Singapore (X units), with a 26% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+10.6% per year) and Singapore (+24.6% per year).

In value terms, China ($X) remains the key foreign market for fire extinguishers exports from Hong Kong SAR, comprising 819% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 282% share of total exports. It was followed by Singapore, with a 31% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +29.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+12.4% per year) and Singapore (+26.7% per year).

Export Prices by Country

The average fire extinguisher export price stood at $X per unit in 2022, reducing by -15.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank notably in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and China ($X per unit), while the average price for exports to Germany ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Fire Extinguisher Imports

Imports into Hong Kong SAR, China

Fire extinguisher imports into Hong Kong SAR soared to X units in 2022, growing by 103% on 2021. In general, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fire extinguisher imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and the UK (X units) were the main suppliers of fire extinguisher imports to Hong Kong SAR, with a combined 91% share of total imports. Macao SAR, Malaysia and Germany lagged somewhat behind, together accounting for a further 5.2%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Macao SAR (with a CAGR of +64.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fire extinguisher suppliers to Hong Kong SAR were China ($X), the United States ($X) and the UK ($X), together accounting for 91% of total imports. Macao SAR, Malaysia and Germany lagged somewhat behind, together comprising a further 5.2%.

In terms of the main suppliers, Macao SAR, with a CAGR of +59.7%, recorded the highest rates of growth with regard to 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

The average fire extinguisher import price stood at $X per unit in 2022, falling by -31.1% against the previous year. In general, the import price saw a pronounced downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 5.5%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per unit) and the United States ($X per unit), while the price for Germany ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (-3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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