Hong Kong SAR, China: Tamping Machinery Market 2024

Tamping Machinery Market Size in Hong Kong SAR, China

After five years of growth, the Hong Kong tamping machinery market decreased by -85.5% to $X in 2021. In general, consumption, however, showed a strong expansion. Tamping machinery consumption peaked at $X in 2020, and then shrank sharply in the following year.

Tamping Machinery Production in Hong Kong SAR, China

In value terms, tamping machinery production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 313% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Tamping Machinery Exports

Exports from Hong Kong SAR, China

In 2021, shipments abroad of tamping or compacting machinery decreased by -29.2% to X units, falling for the second consecutive year after three years of growth. In general, exports showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 347% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, tamping machinery exports reduced sharply to $X in 2021. Overall, exports showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 253% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X units), Singapore (X units) and the Philippines (X units) were the main destinations of tamping machinery exports from Hong Kong SAR, with a combined 80% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +17.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the Philippines ($X) and Singapore ($X) constituted the largest markets for tamping machinery exported from Hong Kong SAR worldwide, together accounting for 73% of total exports.

The Philippines, with a CAGR of +80.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tamping machinery export price amounted to $X per unit, dropping by -31.1% against the previous year. Overall, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 22% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Pakistan ($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 Sri Lanka (+11.8%), while the prices for the other major destinations experienced mixed trend patterns.

Tamping Machinery Imports

Imports into Hong Kong SAR, China

In 2021, overseas purchases of tamping or compacting machinery decreased by -96.8% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 9,116%. Imports peaked at X units in 2020, and then declined remarkably in the following year.

In value terms, tamping machinery imports declined notably to $X in 2021. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2019 when imports increased by 1,592% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then fell markedly in the following year.

Imports by Country

In 2021, China (X units) constituted the largest tamping machinery supplier to Hong Kong SAR, accounting for a 71% share of total imports. Moreover, tamping machinery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Finland (X units) ranked third in terms of total imports with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.8% per year) and Finland (-22.7% per year).

In value terms, the largest tamping machinery suppliers to Hong Kong SAR were Finland ($X), the United States ($X) and China ($X), together accounting for 47% of total imports. These countries were followed by Malaysia, which accounted for a further 1.2%.

Malaysia, with a CAGR of +2.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average tamping machinery import price stood at $X per unit in 2021, surging by 187% against the previous year. Over the period under review, the import price, however, recorded a abrupt decline. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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