Hong Kong SAR, China: Milking Machine Market 2024

Milking Machine Market Size in Hong Kong SAR, China

The Hong Kong milking machine market reduced to $X in 2022, shrinking by -3.9% against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Milking machine consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Milking Machine Production in Hong Kong SAR, China

In value terms, milking machine production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 36% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Milking Machine Exports

Exports from Hong Kong SAR, China

In 2022, the amount of milking machines exported from Hong Kong SAR soared to X units, picking up by 300% on the previous year's figure. In general, exports recorded a moderate expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 500% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, milking machine exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a mild increase. The growth pace was the most rapid in 2019 with an increase of 589%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Chile (X units), Lithuania (X units) and the Philippines (X units) were the main destinations of milking machine exports from Hong Kong SAR, together comprising 63% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +150.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for milking machine exported from Hong Kong SAR were Chile ($X), Lithuania ($X) and Romania ($X), with a combined 63% share of total exports.

In terms of the main countries of destination, Chile, with a CAGR of +378.6%, saw the highest growth rate of 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

In 2022, the average milking machine export price amounted to $X per unit, jumping by 75% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 115% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Lithuania ($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 Chile (+77.8%), while the prices for the other major destinations experienced mixed trend patterns.

Milking Machine Imports

Imports into Hong Kong SAR, China

In 2022, purchases abroad of milking machines decreased by -30.2% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 1,100%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, milking machine imports fell significantly to $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 832%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Israel (X units) constituted the largest supplier of milking machine to Hong Kong SAR, with a 78% share of total imports. Moreover, milking machine imports from Israel exceeded the figures recorded by the second-largest supplier, China (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Israel amounted to +14.6%.

In value terms, Israel ($X) constituted the largest supplier of milking machines to Hong Kong SAR, comprising 95% of total imports. The second position in the ranking was held by China ($X), with a 4.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Israel stood at +24.7%.

Import Prices by Country

In 2022, the average milking machine import price amounted to $X per unit, picking up by 8.7% against the previous year. Overall, the import price posted resilient growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 54%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+8.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :