Hong Kong SAR, China: Positive Displacement Pump Market 2024

Positive Displacement Pump Market Size in Hong Kong SAR, China

The Hong Kong positive displacement pump market soared to $X in 2021, growing by 219% against the previous year. In general, consumption recorded a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Positive Displacement Pump Production in Hong Kong SAR, China

In value terms, positive displacement pump production declined to $X in 2021 estimated in export price. In general, production, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 108% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Positive Displacement Pump Exports

Exports from Hong Kong SAR, China

In 2021, positive displacement pump exports from Hong Kong SAR contracted rapidly to X units, with a decrease of -63.8% compared with 2020. Overall, exports, however, saw mild growth. The most prominent rate of growth was recorded in 2020 with an increase of 262% against the previous year. As a result, the exports reached the peak of X units, and then fell rapidly in the following year.

In value terms, positive displacement pump exports rose significantly to $X in 2021. In general, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2020 when exports increased by 63%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), India (X units) and Japan (X units) were the main destinations of positive displacement pump exports from Hong Kong SAR, together accounting for 84% 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 India (with a CAGR of +105.0%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for positive displacement pumps and hand pumps exports from Hong Kong SAR, comprising 66% of total exports. The second position in the ranking was held by China ($X), with an 11% share of total exports. It was followed by the United States, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+0.6% per year) and the United States (-23.3% per year).

Export Prices by Country

The average positive displacement pump export price stood at $X per unit in 2021, with an increase of 214% against the previous year. In general, the export price, however, continues to indicate a abrupt setback. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while the average price for exports to Canada ($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 China (+12.6%), while the prices for the other major destinations experienced mixed trend patterns.

Positive Displacement Pump Imports

Imports into Hong Kong SAR, China

Positive displacement pump imports into Hong Kong SAR surged to X units in 2021, rising by 39% on the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 119%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, positive displacement pump imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 115%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of positive displacement pump to Hong Kong SAR, accounting for a 68% share of total imports. Moreover, positive displacement pump imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.3% per year) and the Netherlands (+70.0% per year).

In value terms, China ($X) constituted the largest supplier of positive displacement pumps and hand pumps to Hong Kong SAR, comprising 77% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.1% share of total imports. It was followed by the United States, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.5% per year) and the United States (-5.7% per year).

Import Prices by Country

In 2021, the average positive displacement pump import price amounted to $X per unit, rising by 11% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 71% against the previous year. 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 ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+85.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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