Hong Kong SAR, China: Hvac Equipment Market 2024

Hvac Equipment Market Size in Hong Kong SAR, China

The Hong Kong HVAC equipment market surged to $X in 2022, with an increase of X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Hvac Equipment Production in Hong Kong SAR, China

In value terms, HVAC equipment production reduced to $X in 2022 estimated in export price. Overall, production, however, enjoyed noticeable growth. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Hvac Equipment Exports

Exports from Hong Kong SAR, China

After two years of growth, overseas shipments of HVAC equipment decreased by X% to X units in 2022. In general, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, HVAC equipment exports declined to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

China (X units), Vietnam (X units) and Taiwan (Chinese) (X units) were the main destinations of HVAC equipment exports from Hong Kong SAR, together accounting for X% of total exports. The United States, Japan, Thailand, Germany, the Philippines, Israel, Mexico, India, South Korea and Singapore lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for HVAC equipment exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with an X% share.

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

Export Prices by Country

The average HVAC equipment export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Vietnam ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hvac Equipment Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of HVAC equipment increased by X% to X units, rising for the second year in a row after five years of decline. Over the period under review, imports, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, HVAC equipment imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of HVAC equipment to Hong Kong SAR, with a X% share of total imports. It was followed by Vietnam (X units), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of HVAC equipment to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest.

Import Prices by Country

The average HVAC equipment import price stood at $X per unit in 2022, waning by X% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price 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, HVAC equipment import price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 China ($X per unit), while the price for Vietnam amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%).

Source: IndexBox Platform