Hong Kong SAR, China: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Hong Kong SAR, China

The Hong Kong market for pneumatic or hydraulic hand tools shrank to $X in 2021, waning by -9.5% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.4% against 2014 indices. Pneumatic or hydraulic hand tool consumption peaked at $X in 2020, and then reduced in the following year.

Production of Pneumatic Or Hydraulic Hand Tools in Hong Kong SAR, China

In value terms, pneumatic or hydraulic hand tool production fell to $X in 2021 estimated in export price. In general, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +86.9% against 2014 indices. The pace of growth appeared the most rapid in 2017 with an increase of 46% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Hong Kong SAR, China

In 2021, pneumatic or hydraulic hand tool exports from Hong Kong SAR skyrocketed to X tons, growing by 96% compared with the year before. Overall, exports, however, recorded a abrupt decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool exports surged to $X in 2021. In general, exports, however, faced a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for pneumatic or hydraulic hand tool exports from Hong Kong SAR, accounting for a 80% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to China exceeded the volume sent to the second major destination, the United States (X tons), ninefold. France (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.5% per year) and France (-5.9% per year).

In value terms, China ($X) remains the key foreign market for pneumatic or hydraulic hand tools exports from Hong Kong SAR, comprising 83% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.9% share of total exports. It was followed by Germany, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to -12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.9% per year) and Germany (+22.2% per year).

Export Prices by Country

In 2021, the average export price for pneumatic or hydraulic hand tools amounted to $X per ton, waning by -15% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the average export price increased by 22%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then shrank in the following year.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were China ($X per ton) and the United States ($X per ton), while the average price for exports to France ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Hong Kong SAR, China

Pneumatic or hydraulic hand tool imports into Hong Kong SAR totaled X tons in 2021, increasing by 3% on 2020 figures. In general, imports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 13% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool imports expanded significantly to $X in 2021. Overall, imports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 18% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of pneumatic or hydraulic hand tool imports to Hong Kong SAR, together comprising 59% of total imports. These countries were followed by Singapore, the Netherlands, South Korea, Germany, the United States and the UK, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +39.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pneumatic or hydraulic hand tool suppliers to Hong Kong SAR were Japan ($X), Taiwan (Chinese) ($X) and China ($X), together accounting for 64% of total imports. These countries were followed by Singapore, the Netherlands, South Korea, Germany, the United States and the UK, which together accounted for a further 33%.

Among the main suppliers, South Korea, with a CAGR of +39.8%, recorded the highest growth rate of 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 import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, with an increase of 9.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 10%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

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 the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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