Hong Kong SAR, China: Steam Blasting Machine Market 2024

Steam Blasting Machine Market Size in Hong Kong SAR, China

The Hong Kong steam blasting machine market expanded notably to $X in 2021, rising by 11% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Steam Blasting Machine Production in Hong Kong SAR, China

In value terms, steam blasting machine production rose notably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 when the production volume increased by 26%. Steam blasting machine production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Steam Blasting Machine Exports

Exports from Hong Kong SAR, China

In 2021, steam blasting machine exports from Hong Kong SAR soared to X units, with an increase of 39% against the previous year. In general, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 158% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, steam blasting machine exports fell markedly to $X in 2021. Overall, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2018 with an increase of 282% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units), the United States (X units) and Japan (X units) were the main destinations of steam blasting machine exports from Hong Kong SAR, together comprising 93% of total exports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +79.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for steam or sand blasting machines and similar jet-projecting machines exports from Hong Kong SAR, comprising 88% of total exports. The second position in the ranking was held by Japan ($X), with a 5% share of total exports. It was followed by the United States, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+22.7% per year) and the United States (+30.7% per year).

Export Prices by Country

The average steam blasting machine export price stood at $X per unit in 2021, which is down by -41.5% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2017 an increase of 73%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States ($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 China (+12.5%), while the prices for the other major destinations experienced a decline.

Steam Blasting Machine Imports

Imports into Hong Kong SAR, China

Steam blasting machine imports into Hong Kong SAR skyrocketed to X units in 2021, picking up by 26% on 2020. In general, imports showed a modest expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 69% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, steam blasting machine imports declined to $X in 2021. Over the period under review, imports saw a mild expansion. The growth pace was the most rapid in 2018 with an increase of 233%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), China (X units) and Germany (X units) were the main suppliers of steam blasting machine imports to Hong Kong SAR, with a combined 84% share of total imports. Austria, Singapore and the United States lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +82.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steam blasting machine suppliers to Hong Kong SAR were China ($X), Austria ($X) and Germany ($X), together accounting for 67% of total imports.

In terms of the main suppliers, Austria, with a CAGR of +19.7%, 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

The average steam blasting machine import price stood at $X per unit in 2021, reducing by -28.5% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 228%. The import price peaked at $X per unit in 2020, and then declined significantly in the following year.

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 Singapore ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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