Hong Kong SAR, China: Market for Pulley Tackle And Hoists Powered By An Electric Motor 2024

Market Size for Pulley Tackle And Hoists Powered By An Electric Motor in Hong Kong SAR, China

The Hong Kong market for pulley tackle and hoists powered by an electric motor reduced sharply to $X in 2022, with a decrease of -58.3% 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). Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor

Exports from Hong Kong SAR, China

In 2022, exports of pulley tackle and hoists powered by an electric motor from Hong Kong SAR reduced sharply to X units, dropping by -48.4% compared with the previous year. In general, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 67% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of pulley tackle and hoists powered by an electric motor plummeted to $X in 2022. Over the period under review, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 142%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

China (X units) was the main destination for exports of pulley tackle and hoists powered by an electric motor from Hong Kong SAR, accounting for a 60% share of total exports. Moreover, exports of pulley tackle and hoists powered by an electric motor to China exceeded the volume sent to the second major destination, Macao SAR (X units), fourfold. The third position in this ranking was taken by Pakistan (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-1.1% per year) and Pakistan (-4.2% per year).

In value terms, China ($X) remains the key foreign market for pulley tackle and hoists powered by an electric motor exports from Hong Kong SAR, comprising 82% of total exports. The second position in the ranking was taken by Macao SAR ($X), with an 8.9% share of total exports. It was followed by the United States, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled -9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+4.0% per year) and the United States (-21.2% per year).

Export Prices by Country

In 2022, the average export price for pulley tackle and hoists powered by an electric motor amounted to $X per unit, with an increase of 38% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for pulley tackle and hoists powered by an electric motor increased by +107.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 45%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Pakistan ($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 China (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pulley Tackle And Hoists Powered By An Electric Motor

Imports into Hong Kong SAR, China

Imports of pulley tackle and hoists powered by an electric motor into Hong Kong SAR reduced remarkably to X units in 2022, with a decrease of -63.5% on the year before. In general, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 when imports increased by 49% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of pulley tackle and hoists powered by an electric motor dropped sharply to $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 46%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of pulley tackle and hoists powered by an electric motor to Hong Kong SAR, accounting for a 53% share of total imports. Moreover, imports of pulley tackle and hoists powered by an electric motor from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.0% per year) and Taiwan (Chinese) (-4.9% per year).

In value terms, Japan ($X), Taiwan (Chinese) ($X) and Germany ($X) were the largest pulley tackle and hoists powered by an electric motor suppliers to Hong Kong SAR, with a combined 66% share of total imports. Macao SAR, China, Denmark and the UK lagged somewhat behind, together accounting for a further 21%.

Macao SAR, with a CAGR of +11.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for pulley tackle and hoists powered by an electric motor amounted to $X per unit, growing by 34% against the previous year. In general, the import price saw a slight increase. The pace of growth appeared the most rapid in 2021 an increase of 48%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :