Hong Kong SAR, China: Market for Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Numerically Controlled Drilling Machines For Working Metal in Hong Kong SAR, China

The Hong Kong numerically controlled drilling machine market skyrocketed to $X in 2021, picking up by 107% against the previous year. In general, consumption, however, recorded a sharp decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Numerically Controlled Drilling Machines For Working Metal in Hong Kong SAR, China

In value terms, numerically controlled drilling machine production stood at $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 when the production volume increased by 71%. Numerically controlled drilling machine production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Numerically Controlled Drilling Machines For Working Metal

Exports from Hong Kong SAR, China

In 2021, exports of numerically controlled drilling machines for working metal from Hong Kong SAR fell sharply to X tons, shrinking by -73.9% compared with the previous year's figure. Over the period under review, exports faced a abrupt slump. The pace of growth was the most pronounced in 2013 when exports increased by 1,173%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, numerically controlled drilling machine exports dropped notably to $X in 2021. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 1,306%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X tons), Taiwan (Chinese) (X tons) and China (X tons) were the main destinations of numerically controlled drilling machine exports from Hong Kong SAR, with a combined 90% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +13.9%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for numerically controlled drilling machine exported from Hong Kong SAR were the UK ($X), Taiwan (Chinese) ($X) and China ($X), together accounting for 91% of total exports.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +17.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average numerically controlled drilling machine export price stood at $X per ton in 2021, shrinking by -30.9% against the previous year. In general, the export price saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 33% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Numerically Controlled Drilling Machines For Working Metal

Imports into Hong Kong SAR, China

In 2021, purchases abroad of numerically controlled drilling machines for working metal increased by 12% to X tons, rising for the second year in a row after seven years of decline. Overall, imports, however, showed a precipitous curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 1,160% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, numerically controlled drilling machine imports soared to $X in 2021. In general, imports, however, showed a sharp descent. The pace of growth appeared the most rapid in 2020 with an increase of 755%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of numerically controlled drilling machine to Hong Kong SAR, accounting for a 55% share of total imports. Moreover, numerically controlled drilling machine imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-38.4% per year) and the United States (-15.8% per year).

In value terms, China ($X) constituted the largest supplier of numerically controlled drilling machines for working metal to Hong Kong SAR, comprising 64% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Italy, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.9% per year) and Italy (-22.5% per year).

Import Prices by Country

The average numerically controlled drilling machine import price stood at $X per ton in 2021, with an increase of 30% against the previous year. Over the period under review, the import price, however, saw a slight decline. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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