Hong Kong SAR, China: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Hong Kong SAR, China

In 2022, the Hong Kong machine-tool for drilling market decreased by -4.4% to $X, falling for the second consecutive year after three years of growth. In general, consumption, however, saw a resilient expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Machine-Tool For Drilling Production in Hong Kong SAR, China

In value terms, machine-tool for drilling production rose slightly to $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 73%. Machine-tool for drilling production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of machine-tools for drilling, boring or milling metal were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 157% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for drilling exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a dramatic setback. The pace of growth was the most pronounced in 2015 when exports increased by 30% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units), China (X units) and Myanmar (X units) were the main destinations of machine-tool for drilling exports from Hong Kong SAR, together accounting for 95% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +80.8%), while the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and Myanmar ($X) constituted the largest markets for machine-tool for drilling exported from Hong Kong SAR worldwide, with a combined 76% share of total exports.

Japan, with a CAGR of +40.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, growing by 6.8% against the previous year. Overall, the export price, however, faced a deep reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 55% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Myanmar ($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 China (-17.8%), while the prices for the other major destinations experienced a decline.

Machine-Tool For Drilling Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported into Hong Kong SAR; dropping by -39.2% compared with the previous year's figure. Overall, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, machine-tool for drilling imports reduced dramatically to $X in 2022. Over the period under review, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), China (X units) and the UK (X units) were the main suppliers of machine-tool for drilling imports to Hong Kong SAR, together comprising 94% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -4.0%), while imports for the other leaders experienced a decline.

In value terms, the largest machine-tool for drilling suppliers to Hong Kong SAR were China ($X), the UK ($X) and Germany ($X), together accounting for 68% of total imports.

In terms of the main suppliers, the UK, with a CAGR of +19.6%, 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 a decline.

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, picking up by 19% against the previous year. In general, the import price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of 290% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Germany ($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 UK (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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