Hong Kong SAR, China: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Hong Kong SAR, China

In 2021, the Hong Kong oil dispensing pump market increased by 43% to $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Oil Dispensing Pump Production in Hong Kong SAR, China

In value terms, oil dispensing pump production surged to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2017 when the production volume increased by 122%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Oil Dispensing Pump Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of petrol and oil dispensing pumps were exported from Hong Kong SAR; dropping by -2.6% compared with the year before. Over the period under review, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 80%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, oil dispensing pump exports fell remarkably to $X in 2021. Overall, exports showed a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 145%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for oil dispensing pump exports from Hong Kong SAR, accounting for a 99% share of total exports. It was followed by the United Arab Emirates (X units), with a 0.3% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China totaled -7.0%.

In value terms, China ($X) remains the key foreign market for petrol and oil dispensing pumps exports from Hong Kong SAR, comprising 93% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -14.8%.

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, declining by -85.3% against the previous year. In general, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 86%. The export price peaked at $X per unit in 2020, and then shrank markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+128.9%), while the prices for the other major destinations experienced mixed trend patterns.

Oil Dispensing Pump Imports

Imports into Hong Kong SAR, China

In 2021, the amount of petrol and oil dispensing pumps imported into Hong Kong SAR soared to X units, increasing by 34% on the year before. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 793% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, oil dispensing pump imports dropped to $X in 2021. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 584%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest oil dispensing pump supplier to Hong Kong SAR, with a 82% share of total imports. Moreover, oil dispensing pump imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +165.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.4% per year) and the United States (+34.0% per year).

In value terms, the largest oil dispensing pump suppliers to Hong Kong SAR were China ($X), the United States ($X) and Italy ($X), together comprising 64% of total imports.

In terms of the main suppliers, China, with a CAGR of +69.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, reducing by -27.9% against the previous year. Overall, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2013 when the average import price increased by 45%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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