Hong Kong SAR, China: Furnace Burner Market 2024

Furnace Burner Market Size in Hong Kong SAR, China

In 2021, the Hong Kong furnace burner market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, showed a mild shrinkage. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Furnace Burner Production in Hong Kong SAR, China

In value terms, furnace burner production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a mild downturn. The pace of growth was the most pronounced in 2016 when the production volume increased by 20% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Furnace Burner Exports

Exports from Hong Kong SAR, China

In 2021, approx. X tons of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers were exported from Hong Kong SAR; growing by 764% compared with the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, furnace burner exports soared to $X in 2021. In general, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for furnace burner exports from Hong Kong SAR, accounting for a 95% share of total exports. It was followed by Panama (X kg), with a 1.8% share of total exports. The United Arab Emirates (X kg) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+17.9% per year) and the United Arab Emirates (+57.0% per year).

In value terms, China ($X) remains the key foreign market for furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exports from Hong Kong SAR, comprising 98% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 0.9% share of total exports. It was followed by Macao SAR, with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +31.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+57.1% per year) and Macao SAR (-11.8% per year).

Export Prices by Country

In 2021, the average furnace burner export price amounted to $X per ton, rising by 58% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Furnace Burner Imports

Imports into Hong Kong SAR, China

Furnace burner imports into Hong Kong SAR skyrocketed to X tons in 2021, picking up by 682% compared with the year before. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, furnace burner imports soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; afterwards, it flattened through to 2021.

Imports by Country

Italy (X tons), Japan (X tons) and China (X tons) were the main suppliers of furnace burner imports to Hong Kong SAR, with a combined 98% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +68.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Japan ($X) and China ($X) appeared to be the largest furnace burner suppliers to Hong Kong SAR, together accounting for 98% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +64.6%, saw 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 furnace burner import price stood at $X per ton in 2021, surging by 4.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 15%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :