Hong Kong SAR, China: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Hong Kong SAR, China

The Hong Kong non-electric motor handtools market declined significantly to $X in 2022, falling by -20% against the previous year. Overall, consumption faced a deep downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Electric Motor Handtools Production in Hong Kong SAR, China

In value terms, non-electric motor handtools production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 8.9% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Electric Motor Handtools Exports

Exports from Hong Kong SAR, China

In 2022, the amount of handtools, hydraulic or with a self-contained non-electric motor exported from Hong Kong SAR declined remarkably to X units, reducing by -43.3% on the year before. In general, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 167% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, non-electric motor handtools exports declined significantly to $X in 2022. Over the period under review, exports faced a precipitous slump. The growth pace was the most rapid in 2021 with an increase of 299%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for non-electric motor handtools exports from Hong Kong SAR, with a 78% share of total exports. Moreover, non-electric motor handtools exports to China exceeded the volume sent to the second major destination, the United States (X units), tenfold. The third position in this ranking was taken by South Korea (X units), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.2% per year) and South Korea (+7.6% per year).

In value terms, China ($X) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Hong Kong SAR, comprising 70% of total exports. The second position in the ranking was held by France ($X), with an 8.5% share of total exports. It was followed by South Korea, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+2.8% per year) and South Korea (-3.4% per year).

Export Prices by Country

In 2022, the average non-electric motor handtools export price amounted to $X per unit, waning by -3.5% against the previous year. Over the period under review, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 55%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to the Dominican Republic ($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 (+34.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Hong Kong SAR, China

Non-electric motor handtools imports into Hong Kong SAR dropped sharply to X units in 2022, declining by -36% on the year before. Over the period under review, imports recorded a dramatic slump. The growth pace was the most rapid in 2014 when imports increased by 79% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric motor handtools imports declined markedly to $X in 2022. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2020 when imports increased by 17% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric motor handtools to Hong Kong SAR, with a 80% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Sweden (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-13.4% per year) and Sweden (+0.7% per year).

In value terms, China ($X), South Korea ($X) and the Netherlands ($X) constituted the largest non-electric motor handtools suppliers to Hong Kong SAR, together comprising 73% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +28.9%, 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 mixed trend patterns.

Import Prices by Country

The average non-electric motor handtools import price stood at $X per unit in 2022, reducing by -10.3% against the previous year. In general, the import price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 112% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a somewhat 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 the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+33.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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