Hong Kong SAR, China: Wood Slicing Machine Market 2024

Wood Slicing Machine Market Size in Hong Kong SAR, China

The Hong Kong wood slicing machine market was estimated at $X in 2021, increasing by 14% against the previous year. Over the period under review, consumption, however, saw a noticeable slump. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Wood Slicing Machine Production in Hong Kong SAR, China

In value terms, wood slicing machine production soared to $X in 2021 estimated in export price. Overall, production, however, saw a slight descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 42% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Wood Slicing Machine Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of splitting, slicing or paring machines were exported from Hong Kong SAR; declining by -69.4% against the year before. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 236%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wood slicing machine exports contracted markedly to $X in 2021. Over the period under review, exports saw a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 277%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for wood slicing machine exports from Hong Kong SAR, accounting for a 73% share of total exports. Moreover, wood slicing machine exports to China exceeded the volume sent to the second major destination, India (X units), sevenfold. The third position in this ranking was taken by Thailand (X units), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at -15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-19.1% per year) and Thailand (+13.0% per year).

In value terms, China ($X) remains the key foreign market for splitting, slicing or paring machines exports from Hong Kong SAR, comprising 91% of total exports. The second position in the ranking was taken by India ($X), with a 3.4% share of total exports. It was followed by Thailand, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-30.4% per year) and Thailand (+3.4% per year).

Export Prices by Country

In 2021, the average wood slicing machine export price amounted to $X per unit, jumping by 15% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood slicing machine export price decreased by -5.4% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 28% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Thailand ($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 China (+4.8%), while the prices for the other major destinations experienced a decline.

Wood Slicing Machine Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of splitting, slicing or paring machines decreased by -40.2% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 75%. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wood slicing machine imports declined significantly to $X in 2021. Overall, imports faced a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 116% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wood slicing machine to Hong Kong SAR, with a 69% share of total imports. Moreover, wood slicing machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -11.0%.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of splitting, slicing or paring machines to Hong Kong SAR, comprising 72% of total imports. The second position in the ranking was held by China ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at -8.9%.

Import Prices by Country

In 2021, the average wood slicing machine import price amounted to $X per unit, falling by -32.2% against the previous year. Over the period under review, the import price recorded a slight descent. The pace of growth appeared the most rapid in 2013 an increase of 36%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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