Hong Kong SAR, China: Pile-Driver Market 2024

Pile-Driver Market Size in Hong Kong SAR, China

The Hong Kong pile-driver market fell sharply to $X in 2021, shrinking by -26.5% against the previous year. Overall, consumption, however, recorded a perceptible reduction. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Pile-Driver Production in Hong Kong SAR, China

In value terms, pile-driver production stood at less than $X in 2021 estimated in export price. Over the period under review, production recorded a dramatic slump. The pace of growth was the most pronounced in 2018 with a decrease of 99.9%. Pile-driver production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Pile-Driver Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of pile-drivers and pile-extractors increased by 61% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a mild slump. The pace of growth was the most pronounced in 2013 when exports increased by 621%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pile-driver exports skyrocketed to $X in 2021. In general, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 436% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X units), Macao SAR (X units) and China (X units) were the main destinations of pile-driver exports from Hong Kong SAR, together accounting for 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +8.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) emerged as the key foreign market for pile-drivers and pile-extractors exports from Hong Kong SAR, comprising 79% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 14% share of total exports. It was followed by China, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to South Korea stood at +80.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-10.0% per year) and China (+17.3% per year).

Export Prices by Country

The average pile-driver export price stood at $X per unit in 2021, rising by 32% against the previous year. Over the period under review, the export price enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 an increase of 338%. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per unit), while the average price for exports to Peru ($X per unit) 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 (+73.9%), while the prices for the other major destinations experienced more modest paces of growth.

Pile-Driver Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of pile-drivers and pile-extractors decreased by -48.3% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 284%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, pile-driver imports shrank markedly to $X in 2021. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 151% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Macao SAR (X units), China (X units) and Singapore (X units) were the main suppliers of pile-driver imports to Hong Kong SAR, together comprising 72% of total imports. These countries were followed by Japan, South Korea, the United States, Germany, Taiwan (Chinese) and Belgium, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +9.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), China ($X) and Singapore ($X) constituted the largest pile-driver suppliers to Hong Kong SAR, with a combined 58% share of total imports. South Korea, Belgium, Macao SAR, the United States, Japan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 38%.

The United States, with a CAGR of +8.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average pile-driver import price stood at $X per unit in 2021, with a decrease of -54.9% against the previous year. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2020 an increase of 206% against the previous year. As a result, import price attained the peak level of $X per unit, and then fell markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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