Hong Kong SAR, China: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Hong Kong SAR, China

In 2021, the Hong Kong flywheels and pulleys market increased by 29% to $X, rising for the second consecutive year after three years of decline. Overall, consumption showed a resilient increase. Flywheels and pulleys consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Flywheels And Pulleys Exports

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of flywheels and pulleys increased by 33% to X tons in 2021. In general, exports recorded temperate growth. The most prominent rate of growth was recorded in 2018 when exports increased by 75% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, flywheels and pulleys exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of 76%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for flywheels and pulleys exports from Hong Kong SAR, accounting for a 65% share of total exports. Moreover, flywheels and pulleys exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), sevenfold. Japan (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+171.1% per year) and Japan (+40.4% per year).

In value terms, China ($X) remains the key foreign market for flywheels and pulleys exports from Hong Kong SAR, comprising 65% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 9.7% share of total exports. It was followed by Japan, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+177.9% per year) and Japan (+41.0% per year).

Export Prices by Country

In 2021, the average flywheels and pulleys export price amounted to $X per ton, with an increase of 6.5% against the previous year. In general, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and the Philippines ($X per ton), while the average price for exports to China ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of flywheels and pulleys were finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 38% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports skyrocketed to $X in 2021. In general, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 53%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Singapore (X tons) and the United States (X tons) were the main suppliers of flywheels and pulleys imports to Hong Kong SAR, together comprising 50% of total imports. These countries were followed by Japan, China, Germany, South Korea, Gibraltar, Taiwan (Chinese) and France, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +311.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flywheels and pulleys suppliers to Hong Kong SAR were Malaysia ($X), Singapore ($X) and the United States ($X), with a combined 47% share of total imports. Japan, China, Germany, South Korea, Gibraltar, Taiwan (Chinese) and France lagged somewhat behind, together accounting for a further 38%.

South Korea, with a CAGR of +321.8%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average flywheels and pulleys import price amounted to $X per ton, surging by 11% against the previous year. Overall, the import price, however, showed a mild decrease. The pace of growth appeared the most rapid in 2014 when the average import price increased by 16% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Gibraltar ($X per ton) and the United States ($X per ton), while the price for Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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