Hong Kong SAR, China: Non-Electric Pulley Tackle Market 2024

Non-Electric Pulley Tackle Market Size in Hong Kong SAR, China

The Hong Kong non-electric pulley tackle market dropped to $X in 2022, waning by -13.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a mild downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Non-Electric Pulley Tackle Exports

Exports from Hong Kong SAR, China

In 2022, the amount of pulley tackle and hoists, non-powered by electric motor exported from Hong Kong SAR reduced remarkably to X units, shrinking by -51.1% on the previous year. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 73% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-electric pulley tackle exports reduced remarkably to $X in 2022. Overall, exports saw a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 219% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for non-electric pulley tackle exports from Hong Kong SAR, with a 82% share of total exports. Moreover, non-electric pulley tackle exports to China exceeded the volume sent to the second major destination, Italy (X units), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Singapore (-24.0% per year).

In value terms, China ($X) remains the key foreign market for pulley tackle and hoists, non-powered by electric motor exports from Hong Kong SAR, comprising 86% of total exports. The second position in the ranking was held by Italy ($X), with a 3.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Singapore (-18.8% per year).

Export Prices by Country

In 2022, the average non-electric pulley tackle export price amounted to $X per unit, dropping by -8.5% against the previous year. Over the period under review, the export price, however, recorded slight growth. The growth pace was the most rapid in 2016 an increase of 203% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+172.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Pulley Tackle Imports

Imports into Hong Kong SAR, China

In 2022, the amount of pulley tackle and hoists, non-powered by electric motor imported into Hong Kong SAR reduced to X units, waning by -14.7% against the previous year. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when imports increased by 24%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, non-electric pulley tackle imports declined markedly to $X in 2022. In general, imports continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest non-electric pulley tackle supplier to Hong Kong SAR, with a 68% share of total imports. Moreover, non-electric pulley tackle imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.0% per year) and the United States (+46.6% per year).

In value terms, Japan ($X) constituted the largest supplier of pulley tackle and hoists, non-powered by electric motor to Hong Kong SAR, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.5% per year) and the United States (+25.8% per year).

Import Prices by Country

The average non-electric pulley tackle import price stood at $X per unit in 2022, stabilizing at the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric pulley tackle import price increased by +74.3% against 2012 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 19% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then dropped in the following year.

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 China (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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