Hong Kong SAR, China: Industrial Robot Market 2024

Industrial Robot Market Size in Hong Kong SAR, China

For the sixth consecutive year, the Hong Kong industrial robot market recorded growth in sales value, which increased by 107% to $X in 2021. Overall, consumption enjoyed a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Industrial Robot Production in Hong Kong SAR, China

In value terms, industrial robot production amounted to $X in 2021 estimated in export price. In general, production saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 330% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Industrial Robot Exports

Exports from Hong Kong SAR, China

After three years of decline, overseas shipments of industrial robots for multiple uses increased by 5.4% to X units in 2021. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 59% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, industrial robot exports skyrocketed to $X in 2021. Overall, exports saw a slight increase. The pace of growth appeared the most rapid in 2017 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for industrial robot exports from Hong Kong SAR, accounting for a 58% share of total exports. Moreover, industrial robot exports to China exceeded the volume sent to the second major destination, Germany (X units), eightfold. Taiwan (Chinese) (X units) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+127.5% per year) and Taiwan (Chinese) (+14.6% per year).

In value terms, China ($X) remains the key foreign market for industrial robots for multiple uses exports from Hong Kong SAR, comprising 62% of total exports. The second position in the ranking was taken by Germany ($X), with a 5.5% share of total exports. It was followed by Taiwan (Chinese), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+172.7% per year) and Taiwan (Chinese) (+32.9% per year).

Export Prices by Country

The average industrial robot export price stood at $X per unit in 2021, surging by 23% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 45% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the Philippines ($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 Malaysia (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Robot Imports

Imports into Hong Kong SAR, China

In 2021, the amount of industrial robots for multiple uses imported into Hong Kong SAR skyrocketed to X units, growing by 62% against 2020 figures. Overall, imports showed a prominent expansion. The growth pace was the most rapid in 2015 when imports increased by 66%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, industrial robot imports surged to $X in 2021. In general, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of industrial robot imports to Hong Kong SAR, together comprising 89% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +28.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the largest industrial robot suppliers to Hong Kong SAR, with a combined 88% share of total imports.

South Korea, with a CAGR of +27.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average industrial robot import price amounted to $X per unit, falling by -2.5% against the previous year. Over the period under review, the import price showed a slight decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 6% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and South Korea ($X per unit), while the price for Japan ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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