Hong Kong SAR, China: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Hong Kong SAR, China

In 2021, the amount of in-hand motor grinders, sanders and planers exported from Hong Kong SAR rose remarkably to X units, surging by 7.4% against the previous year. Over the period under review, exports, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2014 with an increase of 77% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, exports of in-hand motor grinders, sanders and planers soared to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 62%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for exports of in-hand motor grinders, sanders and planers from Hong Kong SAR, accounting for a 44% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers to the United States exceeded the volume sent to the second major destination, Thailand (X units), fourfold. China (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+16.6% per year) and China (-13.2% per year).

In value terms, the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from Hong Kong SAR were China ($X), the United States ($X) and Thailand ($X), with a combined 47% share of total exports.

In terms of the main countries of destination, Thailand, with a CAGR of +23.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, with an increase of 21% against the previous year. In general, the export price recorded a perceptible increase. The most prominent rate of growth was recorded in 2013 an increase of 167%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Hong Kong SAR, China

In 2021, purchases abroad of in-hand motor grinders, sanders and planers decreased by -5.8% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 18%. Over the period under review, imports of reached the maximum at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of in-hand motor grinders, sanders and planers declined to $X in 2021. Overall, imports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 34%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electromechanical tools for working in the hand, with self-contained electric motor supplier to Hong Kong SAR, with a 82% share of total imports. Moreover, imports of in-hand motor grinders, sanders and planers from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.9% per year) and the United States (-2.4% per year).

In value terms, China ($X) constituted the largest supplier of electromechanical tools for working in the hand, with self-contained electric motor to Hong Kong SAR, comprising 68% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Singapore, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.8% per year) and Singapore (+2.7% per year).

Import Prices by Country

The average import price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, falling by -3.6% against the previous year. In general, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for in-hand motor grinders, sanders and planers increased by +3.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 20%. Over the period under review, average import prices reached the peak figure at $X per unit in 2020, and then fell slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :