Report Update Nov 1, 2024

Hong Kong SAR, China - Grinding and Sharpening Metal Finishing Machines - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Hong Kong SAR, China

The Hong Kong grinding and sharpening machine market rose remarkably to $X in 2022, surging by 6.6% against the previous year. In general, consumption recorded buoyant growth. Grinding and sharpening machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Hong Kong SAR, China

In value terms, grinding and sharpening machine production stood at $X in 2022 estimated in export price. Overall, production enjoyed resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by 57% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas shipments of grinding and sharpening metal finishing machines, when their volume decreased by -47.6% to X units. Overall, exports, however, posted a noticeable expansion. The pace of growth was the most pronounced in 2021 with an increase of 333% against the previous year. As a result, the exports attained the peak of X units, and then contracted markedly in the following year.

In value terms, grinding and sharpening machine exports reduced remarkably to $X in 2022. In general, exports saw a abrupt setback. The pace of growth was the most pronounced in 2021 when exports increased by 48%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for grinding and sharpening machine exports from Hong Kong SAR, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled +5.9%.

In value terms, China ($X) also remains the key foreign market for grinding and sharpening metal finishing machines exports from Hong Kong SAR.

From 2012 to 2022, the average annual growth rate of value to China totaled -16.6%.

Export Prices by Country

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, jumping by 38% against the previous year. In general, the export price, however, recorded a abrupt slump. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -21.3% per year.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Hong Kong SAR, China

After two years of growth, supplies from abroad of grinding and sharpening metal finishing machines decreased by -44.9% to X units in 2022. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 164% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, grinding and sharpening machine imports reduced modestly to $X in 2022. In general, imports showed a mild downturn. The growth pace was the most rapid in 2014 with an increase of 48%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X units) constituted the largest grinding and sharpening machine supplier to Hong Kong SAR, with a 73% share of total imports. Moreover, grinding and sharpening machine imports from Myanmar exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was taken by China (X units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar amounted to +345.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-26.5% per year) and China (-26.5% per year).

In value terms, Japan ($X), Belgium ($X) and Myanmar ($X) appeared to be the largest grinding and sharpening machine suppliers to Hong Kong SAR, together accounting for 47% of total imports.

Myanmar, with a CAGR of +4,003.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average grinding and sharpening machine import price amounted to $X per unit, increasing by 78% against the previous year. In general, the import price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 an increase of 199%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, 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 Switzerland ($X per unit), while the price for Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+820.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for grinding and sharpening metal finishing machines in the world?

China remains the largest grinding and sharpening machine consuming country worldwide, comprising approx. 40% of total volume. Moreover, grinding and sharpening machine consumption in China exceeded the figures recorded by the second-largest consumer, South Africa, fourfold. The United States ranked third in terms of total consumption with a 5.5% share.

What are the largest producers of grinding and sharpening metal finishing machines in the world?

China remains the largest grinding and sharpening machine producing country worldwide, accounting for 55% of total volume. Moreover, grinding and sharpening machine production in China exceeded the figures recorded by the second-largest producer, Germany, tenfold. The third position in this ranking was occupied by the United States, with a 5.1% share.

What are the leading suppliers of grinding and sharpening metal finishing machines to Hong Kong SAR, China?

In value terms, Switzerland, the Netherlands and Taiwan Chinese) constituted the largest grinding and sharpening machine suppliers to Hong Kong SAR, with a combined 32% share of total imports. China, Singapore, Malaysia and the UK lagged somewhat behind, together comprising a further 6.2%.

What are the leading importers of grinding and sharpening metal finishing machines from Hong Kong SAR, China?

In value terms, China remains the key foreign market for grinding and sharpening machine exports from Hong Kong SAR, comprising 98% of total exports. The second position in the ranking was occupied by Vietnam, with a 0.8% share of total exports. It was followed by Malaysia, with a 0.3% share.

What is the average export price for grinding and sharpening metal finishing machines in Hong Kong SAR, China?

The average grinding and sharpening machine export price stood at $2,342 per unit in 2021, with an increase of 4.2% against the previous year.

What is the average import price for grinding and sharpening metal finishing machines in Hong Kong SAR, China?

The average grinding and sharpening machine import price stood at $10,464 per unit in 2021, with a decrease of -47% against the previous year.

This report provides an in-depth analysis of the market for grinding and sharpening machine in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28412305 - Numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412315 - Numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412325 - Other numerically controlled grinding machines in which the positioning in any one axis can be set up to accuracy > 0,01 mm
Prodcom 28412335 - Non-numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412345 - Non-numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412355 - Grinding machines for working metal, any one axis can be set to an accuracy . 0,01 mm excluding flat-surface grinding machines, cylindrical surface grinding machines
Prodcom 28412365 - Numerically controlled sharpening (tool or cutter grinding) m achines for working metal
Prodcom 28412375 - Non-numerically controlled sharpening (tool or cutter grinding) machines for working metal

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023