Hong Kong SAR, China: Railway Track Fixture Market 2024

Railway Track Fixture Market Size in Hong Kong SAR, China

The Hong Kong railway track fixture market contracted dramatically to $X in 2021, reducing by -36% 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). In general, consumption, however, saw slight growth. Railway track fixture consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Railway Track Fixture Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of railway or tramway track fixtures and fittings decreased by -29.9% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 150% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, railway track fixture exports fell remarkably to $X in 2021. Overall, exports saw a mild contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 143%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for railway track fixture exports from Hong Kong SAR, accounting for a 48% share of total exports. Moreover, railway track fixture exports to Singapore exceeded the volume sent to the second major destination, Malaysia (X tons), threefold. The Philippines (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled +88.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+75.3% per year) and the Philippines (-52.0% per year).

In value terms, Singapore ($X) emerged as the key foreign market for railway or tramway track fixtures and fittings exports from Hong Kong SAR, comprising 48% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by the Philippines, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Singapore amounted to +94.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+74.9% per year) and the Philippines (-51.3% per year).

Export Prices by Country

The average railway track fixture export price stood at $X per ton in 2021, increasing by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2013 an increase of 20%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and Belgium ($X per ton), while the average price for exports to the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Railway Track Fixture Imports

Imports into Hong Kong SAR, China

In 2021, railway track fixture imports into Hong Kong SAR fell rapidly to X tons, with a decrease of -36.5% on the previous year. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 114%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, railway track fixture imports declined notably to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 100%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

France (X tons), China (X tons) and the UK (X tons) were the main suppliers of railway track fixture imports to Hong Kong SAR, together comprising 60% of total imports. These countries were followed by India, Germany, Japan, Hungary and Canada, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +38.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest railway track fixture suppliers to Hong Kong SAR were France ($X), China ($X) and the UK ($X), with a combined 60% share of total imports. These countries were followed by India, Germany, Japan, Hungary and Canada, which together accounted for a further 31%.

Among the main suppliers, Hungary, with a CAGR of +38.8%, saw the highest rates of growth with regard to 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

In 2021, the average railway track fixture import price amounted to $X per ton, growing by 2.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and China ($X per ton), while the price for Canada ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+0.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :