Hong Kong SAR, China: Ship Propeller Market 2025

Ship Propeller Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong ship propeller market decreased by -29.4% to $X in 2022. Overall, consumption continues to indicate a abrupt descent. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Ship Propeller Production in Hong Kong SAR, China

In value terms, ship propeller production reduced slightly to $X in 2022 estimated in export price. In general, production saw a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 192% against the previous year. Ship propeller production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ship Propeller Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of ships’ or boats’ propellers and blades therefor decreased by -72.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw a significant contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 162% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, ship propeller exports reduced rapidly to $X in 2022. In general, exports faced a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 253%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of ship propeller exports from Hong Kong SAR, together accounting for 72% of total exports. China, the UK, France and Spain lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +132.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ship propeller exported from Hong Kong SAR were the Netherlands ($X), the United States ($X) and China ($X), together accounting for 65% of total exports. Germany, the UK, France and Spain lagged somewhat behind, together comprising a further 30%.

Among the main countries of destination, Spain, with a CAGR of +85.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ship propeller export price amounted to $X per ton, surging by 3% against the previous year. Over the period under review, the export price recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 470% against the previous year. The export price peaked in 2022 and is likely to see gradual 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 ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ship Propeller Imports

Imports into Hong Kong SAR, China

After four years of growth, supplies from abroad of ships’ or boats’ propellers and blades therefor decreased by -71.9% to X tons in 2022. Overall, imports faced a precipitous curtailment. The growth pace was the most rapid in 2014 when imports increased by 207% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, ship propeller imports contracted notably to $X in 2022. Over the period under review, imports faced a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 139%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest ship propeller supplier to Hong Kong SAR, accounting for a 82% share of total imports. Moreover, ship propeller imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), eightfold. The third position in this ranking was taken by Italy (X tons), with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.0% per year) and Italy (+1.8% per year).

In value terms, China ($X) constituted the largest supplier of ships’ or boats’ propellers and blades therefor to Hong Kong SAR, comprising 82% of total imports. The second position in the ranking was taken by the UK ($X), with a 9.7% share of total imports. It was followed by Germany, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+0.2% per year) and Germany (-34.7% per year).

Import Prices by Country

The average ship propeller import price stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the period under review, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 an increase of 556% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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