Hong Kong SAR, China: Gear Box Market 2025

Gear Box Market Size in Hong Kong SAR, China

The Hong Kong gear box market amounted to $X in 2022, picking up by 3.3% against the previous year. Over the period under review, consumption, however, saw a buoyant expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Gear Box Production in Hong Kong SAR, China

In value terms, gear box production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant expansion. The growth pace was the most rapid in 2015 when the production volume increased by 118%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Gear Box Exports

Exports from Hong Kong SAR, China

In 2022, approx. X units of gear boxes were exported from Hong Kong SAR; jumping by 26% against the previous year. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 121% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, gear box exports soared to $X in 2022. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 225% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for gear box exports from Hong Kong SAR, with a 42% share of total exports. Moreover, gear box exports to China exceeded the volume sent to the second major destination, Indonesia (X units), threefold. Guatemala (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+75.6% per year) and Guatemala (+11.8% per year).

In value terms, China ($X), Japan ($X) and Indonesia ($X) constituted the largest markets for gear box exported from Hong Kong SAR worldwide, with a combined 84% share of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +84.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gear box export price stood at $X per unit in 2022, surging by 6.7% against the previous year. Overall, the export price saw prominent growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 103%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Nigeria ($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 Japan (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Hong Kong SAR, China

For the third year in a row, Hong Kong SAR recorded growth in supplies from abroad of gear boxes, which increased by 6.2% to X units in 2022. In general, imports showed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 40% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, gear box imports rose notably to $X in 2022. Over the period under review, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X units) constituted the largest gear box supplier to Hong Kong SAR, accounting for a 73% share of total imports. Moreover, gear box imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. The third position in this ranking was taken by the United States (X units), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.1% per year) and the United States (+6.3% per year).

In value terms, Germany ($X) constituted the largest supplier of gear boxes to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Thailand, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.7% per year) and Thailand (+53.0% per year).

Import Prices by Country

In 2022, the average gear box import price amounted to $X per unit, with an increase of 2.4% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2014 when the average import price increased by 21%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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