Hong Kong SAR, China: Market for Mechanical Appliances For Projecting, Dispersing Or Spraying 2024

Market Size for Mechanical Appliances For Projecting, Dispersing Or Spraying in Hong Kong SAR, China

The Hong Kong market for mechanical appliances for projecting, dispersing or spraying dropped to $X in 2022, declining by -14.8% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent increase. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Production of Mechanical Appliances For Projecting, Dispersing Or Spraying in Hong Kong SAR, China

In value terms, production of mechanical appliances for projecting, dispersing or spraying declined to $X in 2022 estimated in export price. In general, production, however, enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 978% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Exports from Hong Kong SAR, China

In 2022, shipments abroad of mechanical appliances for projecting, dispersing or spraying decreased by -61.9% to X units, falling for the fifth year in a row after two years of growth. Overall, exports saw a slight shrinkage. The growth pace was the most rapid in 2013 with an increase of 53%. Over the period under review, the exports of hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of mechanical appliances for projecting, dispersing or spraying shrank significantly to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 74%. Over the period under review, the exports of attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for exports of mechanical appliances for projecting, dispersing or spraying from Hong Kong SAR, with a 22% share of total exports. Moreover, exports of mechanical appliances for projecting, dispersing or spraying to China exceeded the volume sent to the second major destination, the United States (X units), twofold. Poland (X units) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-12.2% per year) and Poland (+19.6% per year).

In value terms, China ($X) emerged as the key foreign market for mechanical appliances for projecting, dispersing or spraying exports from Hong Kong SAR, comprising 22% of total exports. The second position in the ranking was taken by the United States ($X), with a 9.4% share of total exports. It was followed by Poland, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.5% per year) and Poland (+22.0% per year).

Export Prices by Country

The average export price for mechanical appliances for projecting, dispersing or spraying stood at $X per unit in 2022, waning by -11.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 13%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then contracted in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and Japan ($X per unit), while the average price for exports to South Korea ($X per unit) and the UK ($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 Australia (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Appliances For Projecting, Dispersing Or Spraying

Imports into Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in overseas purchases of mechanical appliances for projecting, dispersing or spraying, when their volume decreased by -75.7% to X units. Over the period under review, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 73%. As a result, imports attained the peak of X units, and then shrank rapidly in the following year.

In value terms, imports of mechanical appliances for projecting, dispersing or spraying shrank remarkably to $X in 2022. In general, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 82% against the previous year. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, China (X units) constituted the largest mechanical appliances for projecting, dispersing or spraying supplier to Hong Kong SAR, with a 59% share of total imports. Moreover, imports of mechanical appliances for projecting, dispersing or spraying from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Sweden (X units) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.1% per year) and Sweden (+33.3% per year).

In value terms, China ($X) constituted the largest supplier of mechanical appliances for projecting, dispersing or spraying to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was taken by the United States ($X), with a 19% share of total imports. It was followed by Sweden, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.1% per year) and Sweden (+36.4% per year).

Import Prices by Country

The average import price for mechanical appliances for projecting, dispersing or spraying stood at $X per unit in 2022, increasing by 8.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 when the average import price increased by 9.5% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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