Hong Kong SAR, China: Multimeter Market 2024

Multimeter Market Size in Hong Kong SAR, China

The Hong Kong multimeter market surged to $X in 2022, picking up by 39% against the previous year. In general, consumption showed significant growth. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Multimeter Production in Hong Kong SAR, China

In value terms, multimeter production amounted to less than $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with a decrease of 99.9% against the previous year. Multimeter production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Multimeter Exports

Exports from Hong Kong SAR, China

Multimeter exports from Hong Kong SAR reduced dramatically to X units in 2022, shrinking by -29.3% against the year before. Overall, exports saw a perceptible downturn. The pace of growth appeared the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, multimeter exports dropped markedly to $X in 2022. Over the period under review, exports saw a slight curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 44%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Germany (X units), Japan (X units) and the United States (X units) were the main destinations of multimeter exports from Hong Kong SAR, together comprising 40% of total exports. The UK, Brazil, Colombia, Russia, China, Argentina, the Netherlands, Sweden, France and Romania lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +23.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and the United States ($X) constituted the largest markets for multimeter exported from Hong Kong SAR worldwide, together accounting for 40% of total exports. The UK, Brazil, Colombia, Russia, China, Argentina, the Netherlands, Sweden, France and Romania lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Romania, with a CAGR of +24.9%, recorded 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

The average multimeter export price stood at $X per unit in 2022, with a decrease of -12.5% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 23%. As a result, the export price reached the peak level of $X per unit, and then contracted in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Argentina ($X per unit) and Romania ($X per unit), while the average price for exports to France ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.

Multimeter Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of multimeters decreased by -65.4% to X units for the first time since 2013, thus ending a eight-year rising trend. Over the period under review, imports showed a mild curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then fell markedly in the following year.

In value terms, multimeter imports declined markedly to $X in 2022. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 17% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then plummeted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of multimeter to Hong Kong SAR, accounting for a 79% share of total imports. Moreover, multimeter imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+48.7% per year) and Japan (+0.4% per year).

In value terms, China ($X) constituted the largest supplier of multimeters to Hong Kong SAR, comprising 79% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+44.4% per year) and Japan (-2.6% per year).

Import Prices by Country

The average multimeter import price stood at $X per unit in 2022, flattening at the previous year. Overall, the import price showed a pronounced setback. The pace of growth appeared the most rapid in 2013 an increase of 9.3% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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