Hong Kong SAR, China: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in Hong Kong SAR, China

After two years of decline, the Hong Kong tobacco making machinery market increased by 50% to $X in 2022. Overall, consumption, however, continues to indicate a deep setback. Tobacco making machinery consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tobacco Making Machinery Exports

Exports from Hong Kong SAR, China

In 2022, the amount of machinery for the preparation or making up of tobacco exported from Hong Kong SAR declined to X units, waning by -9.1% against 2021. Over the period under review, exports, however, enjoyed a measured expansion. The growth pace was the most rapid in 2013 with an increase of 329% against the previous year. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, tobacco making machinery exports expanded to $X in 2022. In general, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 359%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for tobacco making machinery exports from Hong Kong SAR, accounting for a 40% share of total exports. Moreover, tobacco making machinery exports to the United States exceeded the volume sent to the second major destination, Kazakhstan (X units), twofold. The third position in this ranking was taken by Canada (X units), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Canada (+57.0% per year).

In value terms, the largest markets for tobacco making machinery exported from Hong Kong SAR were Kazakhstan ($X), the United States ($X) and Canada ($X), with a combined 88% share of total exports. Spain, France and the Philippines lagged somewhat behind, together accounting for a further 6.4%.

The Philippines, with a CAGR of +122.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tobacco making machinery export price amounted to $X per unit, rising by 12% against the previous year. Overall, the export price continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 180%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to France ($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 the Philippines (+41.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Making Machinery Imports

Imports into Hong Kong SAR, China

In 2022, approx. X units of machinery for the preparation or making up of tobacco were imported into Hong Kong SAR; picking up by 28% on the previous year. Over the period under review, imports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 150%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tobacco making machinery imports skyrocketed to $X in 2022. In general, imports, however, saw a dramatic setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, France (X units) constituted the largest supplier of tobacco making machinery to Hong Kong SAR, with a 40% share of total imports. Moreover, tobacco making machinery imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France amounted to -17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-3.8% per year) and China (-58.6% per year).

In value terms, the largest tobacco making machinery suppliers to Hong Kong SAR were France ($X), the Netherlands ($X) and China ($X), together comprising 50% of total imports.

The Netherlands, with a CAGR of -14.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average tobacco making machinery import price stood at $X per unit in 2022, growing by 46% against the previous year. Overall, the import price, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2018 when the average import price increased by 66%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, 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 the Netherlands ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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