Hong Kong SAR, China: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Hong Kong SAR, China

The Hong Kong fuel or lubricating pump market declined dramatically to $X in 2021, shrinking by -44.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted notably in the following year.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Hong Kong SAR, China

In value terms, fuel or lubricating pump production contracted sharply to $X in 2021 estimated in export price. In general, production, however, showed resilient growth. The growth pace was the most rapid in 2015 when the production volume increased by 65%. Over the period under review, production reached the peak level at $X in 2020, and then declined sharply in the following year.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Hong Kong SAR, China

In 2021, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 68% to X units, rising for the second year in a row after two years of decline. In general, exports recorded a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 315%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, fuel or lubricating pump exports surged to $X in 2021. Overall, exports recorded strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 229%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The UK (X units), China (X units) and the United States (X units) were the main destinations of fuel or lubricating pump exports from Hong Kong SAR, with a combined 93% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +144.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Hong Kong SAR, comprising 55% of total exports. The second position in the ranking was taken by China ($X), with a 20% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +129.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-0.8% per year) and the United States (+17.9% per year).

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2014 an increase of 48% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to China ($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 the United States (+1.3%), while the prices for the other major destinations experienced a decline.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 5.1% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2017 when imports increased by 39%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Over the period under review, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. 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 36% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Germany (X units) and Japan (X units) were the main suppliers of fuel or lubricating pump imports to Hong Kong SAR, together accounting for 70% of total imports. Malaysia, the United Arab Emirates, Romania, the UK, the United States and Singapore lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +33.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and Japan ($X) were the largest fuel or lubricating pump suppliers to Hong Kong SAR, with a combined 51% share of total imports. These countries were followed by Malaysia, Singapore, the United States, China, the United Arab Emirates and Romania, which together accounted for a further 38%.

The United Arab Emirates, with a CAGR of +50.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, increasing by 24% against the previous year. Over the period under review, the import price showed prominent growth. The most prominent rate of growth was recorded in 2016 an increase of 36%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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