Hong Kong SAR, China: Market for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals 2024

Market Size for Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in Hong Kong SAR, China

The Hong Kong market for fully or partly automatic electric machines for arc welding of metals was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption recorded a resilient increase. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals in Hong Kong SAR, China

In value terms, production of fully or partly automatic electric machines for arc welding of metals stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 18%. Production of peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Exports from Hong Kong SAR, China

After two years of growth, shipments abroad of fully or partly automatic electric machines for arc welding of metals decreased by -24.6% to X units in 2022. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 67% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of fully or partly automatic electric machines for arc welding of metals reduced rapidly to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 76% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for exports of fully or partly automatic electric machines for arc welding of metals from Hong Kong SAR, accounting for a 97% share of total exports. Moreover, exports of fully or partly automatic electric machines for arc welding of metals to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China stood at -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+3.7% per year) and the Philippines (-44.5% per year).

In value terms, China ($X) remains the key foreign market for fully or partly automatic electric machines for arc welding of metals exports from Hong Kong SAR, comprising 97% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.6% per year) and the Philippines (-41.8% per year).

Export Prices by Country

In 2022, the average export price for fully or partly automatic electric machines for arc welding of metals amounted to $X per unit, shrinking by -2.3% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2014 an increase of 20% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then declined modestly in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 China (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fully Or Partly Automatic Electric Machines For Arc Welding Of Metals

Imports into Hong Kong SAR, China

In 2022, the amount of fully or partly automatic electric machines for arc welding of metals imported into Hong Kong SAR declined sharply to X units, waning by -19.8% compared with the previous year. Overall, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 when imports increased by 76% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of fully or partly automatic electric machines for arc welding of metals fell significantly to $X in 2022. In general, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 75%. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Austria (X units) was the main supplier of fully or partly automatic arc welding machine to Hong Kong SAR, with a 93% share of total imports. Moreover, imports of fully or partly automatic electric machines for arc welding of metals from Austria exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 1.4% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.6% per year) and Germany (-30.4% per year).

In value terms, Austria ($X) constituted the largest supplier of fully or partly automatic electric machines for arc welding of metals to Hong Kong SAR, comprising 93% of total imports. The second position in the ranking was held by China ($X), with a 4.6% share of total imports. It was followed by Germany, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.4% per year) and Germany (-28.6% per year).

Import Prices by Country

In 2022, the average import price for fully or partly automatic electric machines for arc welding of metals amounted to $X per unit, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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