Hong Kong SAR, China: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Hong Kong SAR, China

The Hong Kong hydraulic cylinder and system market soared to $X in 2022, picking up by 21% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. Hydraulic cylinder and system consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Hydraulic Cylinders And Systems in Hong Kong SAR, China

In value terms, hydraulic cylinder and system production rose notably to $X in 2022 estimated in export price. In general, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 57% against the previous year. Hydraulic cylinder and system production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from Hong Kong SAR, China

In 2022, approx. X units of hydraulic cylinders and systems were exported from Hong Kong SAR; flattening at 2021. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 35% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, hydraulic cylinder and system exports shrank to $X in 2022. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 35%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for hydraulic cylinder and system exports from Hong Kong SAR, accounting for a 74% share of total exports. Moreover, hydraulic cylinder and system exports to China exceeded the volume sent to the second major destination, the United States (X units), sevenfold. Vietnam (X units) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+98.9% per year) and Vietnam (+66.7% per year).

In value terms, China ($X) remains the key foreign market for hydraulic cylinders and systems exports from Hong Kong SAR, comprising 74% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Vietnam, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+104.7% per year) and Vietnam (+71.5% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at $X per unit in 2022, declining by -6.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then contracted in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per unit) and the United States ($X per unit), while the average price for exports to China ($X per unit) and Germany ($X per unit) were 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 (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Hong Kong SAR, China

Hydraulic cylinder and system imports into Hong Kong SAR surged to X units in 2022, jumping by 21% against the previous year. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 143% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, hydraulic cylinder and system imports surged to $X in 2022. In general, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 110%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest hydraulic cylinder and system supplier to Hong Kong SAR, accounting for a 65% share of total imports. Moreover, hydraulic cylinder and system imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was taken by China (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +43.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+37.6% per year) and China (+16.2% per year).

In value terms, Germany ($X) constituted the largest supplier of hydraulic cylinders and systems to Hong Kong SAR, comprising 65% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+34.6% per year) and China (+13.7% per year).

Import Prices by Country

The average hydraulic cylinder and system import price stood at $X per unit in 2022, rising by 2.5% against the previous year. Overall, the import price, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2018 an increase of 10% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and China ($X per unit), while the price for Singapore ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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