Hong Kong SAR, China: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Hong Kong SAR, China

The Hong Kong gearboxes and speed changers market soared to $X in 2022, with an increase of X% against the previous year. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. Gearboxes and speed changers consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Gearboxes and Speed Changers in Hong Kong SAR, China

In value terms, gearboxes and speed changers production expanded modestly to $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. Gearboxes and speed changers production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas shipments of gearboxes and speed changers, when their volume decreased by X% to X tons. Over the period under review, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, gearboxes and speed changers exports reduced markedly to $X in 2022. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for gearboxes and speed changers exports from Hong Kong SAR, with a X% share of total exports. Moreover, gearboxes and speed changers exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United States (X% per year).

In value terms, China ($X) remains the key foreign market for gearboxes and speed changers exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United States (X% per year).

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Gearboxes and Speed Changers

Imports into Hong Kong SAR, China

In 2022, overseas purchases of gearboxes and speed changers increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, imports, however, recorded a abrupt downturn. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, gearboxes and speed changers imports totaled $X in 2022. In general, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Singapore (X tons) were the main suppliers of gearboxes and speed changers imports to Hong Kong SAR, together accounting for X% of total imports. Italy, Taiwan (Chinese), Malaysia, Germany and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, China ($X), Japan ($X) and Singapore ($X) appeared to be the largest gearboxes and speed changers suppliers to Hong Kong SAR, with a combined X% share of total imports. Italy, Taiwan (Chinese), Malaysia, Germany and the United States lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Japan ($X per ton) and Italy ($X per ton), while the price for Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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