Hong Kong SAR, China: Market for Vacuum Cleaners With Motor 2024

Market Size for Vacuum Cleaners With Motor in Hong Kong SAR, China

The Hong Kong vacuum cleaner with motor market expanded significantly to $X in 2021, picking up by 12% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.5% 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 +68.6% against 2015 indices. Vacuum cleaner with motor consumption peaked in 2021 and is likely to see steady growth in the near future.

Production of Vacuum Cleaners With Motor in Hong Kong SAR, China

In value terms, vacuum cleaner with motor production shrank significantly to $X in 2021 estimated in export price. In general, production recorded a strong expansion. The growth pace was the most rapid in 2019 with an increase of 813% against the previous year. Vacuum cleaner with motor production peaked at $X in 2020, and then shrank remarkably in the following year.

Exports of Vacuum Cleaners With Motor

Exports from Hong Kong SAR, China

In 2021, overseas shipments of vacuum cleaners with motor increased by 28% to X tons, rising for the fifth consecutive year after three years of decline. Overall, exports recorded a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by 82%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, vacuum cleaner with motor exports skyrocketed to $X in 2021. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 82% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Turkey (X tons), the United States (X tons) and Japan (X tons) were the main destinations of vacuum cleaner with motor exports from Hong Kong SAR, with a combined 45% share of total exports. China, Russia, Germany, Poland, the Netherlands, Australia, Sweden, Ukraine, Malaysia and Romania lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +195.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and Japan ($X) appeared to be the largest markets for vacuum cleaner with motor exported from Hong Kong SAR worldwide, with a combined 45% share of total exports. China, Russia, Germany, Poland, the Netherlands, Australia, Sweden, Ukraine, Malaysia and Romania lagged somewhat behind, together accounting for a further 37%.

In terms of the main countries of destination, Romania, with a CAGR of +217.1%, saw 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

The average vacuum cleaner with motor export price stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Romania ($X per ton), while the average price for exports to China ($X per ton) and Ukraine ($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 Romania (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Cleaners With Motor

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of vacuum cleaners with motor increased by 15% to X tons, rising for the fifth consecutive year after three years of decline. In general, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.2% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 37% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vacuum cleaner with motor imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest vacuum cleaner with motor supplier to Hong Kong SAR, accounting for a 75% share of total imports. Moreover, vacuum cleaner with motor imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+35.6% per year) and the United States (+12.1% per year).

In value terms, China ($X) constituted the largest supplier of vacuum cleaners with motor to Hong Kong SAR, comprising 74% of total imports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total imports. It was followed by the United States, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+42.0% per year) and the United States (+18.1% per year).

Import Prices by Country

The average vacuum cleaner with motor import price stood at $X per ton in 2021, with an increase of 14% against the previous year. Overall, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vacuum cleaner with motor import price increased by +62.4% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and the United States ($X per ton), while the price for Germany ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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