Hong Kong SAR, China: Metal Sawing Machine Market 2024

Metal Sawing Machine Market Size in Hong Kong SAR, China

The Hong Kong metal sawing machine market soared to $X in 2021, picking up by 245% against the previous year. In general, consumption showed strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Sawing Machine Production in Hong Kong SAR, China

In value terms, metal sawing machine production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 223%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Metal Sawing Machine Exports

Exports from Hong Kong SAR, China

After two years of decline, overseas shipments of sawing or cutting-off machines for working metal increased by 30% to X units in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 286% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, metal sawing machine exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 230%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), the United States (X units) and Thailand (X units) were the main destinations of metal sawing machine exports from Hong Kong SAR, with a combined 96% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +56.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for sawing or cutting-off machines for working metal exports from Hong Kong SAR, comprising 75% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by the Philippines, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+36.9% per year) and the Philippines (-12.2% per year).

Export Prices by Country

The average metal sawing machine export price stood at $X per unit in 2021, increasing by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 an increase of 272% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while the average price for exports to the United States ($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 the Philippines (-7.9%), while the prices for the other major destinations experienced a decline.

Metal Sawing Machine Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of sawing or cutting-off machines for working metal increased by 218% to X units, rising for the third year in a row after five years of decline. In general, imports enjoyed a temperate increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal sawing machine imports surged to $X in 2021. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 139%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest metal sawing machine supplier to Hong Kong SAR, accounting for a 85% share of total imports. Moreover, metal sawing machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.9% per year) and Germany (-24.8% per year).

In value terms, China ($X) constituted the largest supplier of sawing or cutting-off machines for working metal to Hong Kong SAR, comprising 41% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-19.6% per year) and Germany (-34.2% per year).

Import Prices by Country

The average metal sawing machine import price stood at $X per unit in 2021, dropping by -56.5% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 176%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-10.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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