Hong Kong SAR, China: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Hong Kong SAR, China

The Hong Kong stone polishing machine market soared to $X in 2022, picking up by 16% against the previous year. In general, consumption saw a moderate expansion. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Stone Polishing Machine Production in Hong Kong SAR, China

In value terms, stone polishing machine production surged to $X in 2022 estimated in export price. In general, production enjoyed a temperate expansion. The growth pace was the most rapid in 2013 when the production volume increased by 1,091% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Stone Polishing Machine Exports

Exports from Hong Kong SAR, China

In 2022, the amount of grinding or polishing machines for working stone, ceramics and concrete exported from Hong Kong SAR declined markedly to X units, which is down by -83.1% on 2021 figures. Overall, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2013 when exports increased by 347% against the previous year. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, stone polishing machine exports contracted dramatically to $X in 2022. Over the period under review, exports saw a precipitous contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 370% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for stone polishing machine exports from Hong Kong SAR, with a 43% share of total exports. Moreover, stone polishing machine exports to Germany exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was held by China (X units), with a 19% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+30.2% per year) and China (-30.1% per year).

In value terms, Germany ($X) emerged as the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Hong Kong SAR, comprising 72% of total exports. The second position in the ranking was taken by China ($X), with a 19% share of total exports. It was followed by the United States, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-33.2% per year) and the United States (+19.4% per year).

Export Prices by Country

The average stone polishing machine export price stood at $X per unit in 2022, with an increase of 97% against the previous year. Overall, the export price, however, saw a perceptible reduction. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Japan ($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 Germany (+1.0%), while the prices for the other major destinations experienced a decline.

Stone Polishing Machine Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of grinding or polishing machines for working stone, ceramics and concrete decreased by -36.4% to X units, falling for the fourth consecutive year after two years of growth. In general, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when imports increased by 353%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, stone polishing machine imports reduced dramatically to $X in 2022. Over the period under review, imports showed a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 374% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of stone polishing machine to Hong Kong SAR, with a 92% share of total imports. Moreover, stone polishing machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.3% per year) and Japan (-25.9% per year).

In value terms, China ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Hong Kong SAR, comprising 83% of total imports. The second position in the ranking was taken by the United States ($X), with a 9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.1% per year) and Japan (-23.8% per year).

Import Prices by Country

In 2022, the average stone polishing machine import price amounted to $X per unit, shrinking by -26.4% against the previous year. Overall, the import price saw a abrupt descent. The growth pace was the most rapid in 2013 when the average import price increased by 221%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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