Hong Kong SAR, China: Vacuum Vessel Market 2025

Vacuum Vessel Market Size in Hong Kong SAR, China

The Hong Kong vacuum vessel market dropped to $X in 2022, with a decrease of -4.2% against the previous year. In general, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +74.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Vacuum Vessel Production in Hong Kong SAR, China

In value terms, vacuum vessel production soared to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt descent. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Vacuum Vessel Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of vacuum vessels increased by 65% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vacuum vessel exports dropped dramatically to $X in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 93%. The exports peaked at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

China (X units) was the main destination for vacuum vessel exports from Hong Kong SAR, accounting for a 73% share of total exports. Moreover, vacuum vessel exports to China exceeded the volume sent to the second major destination, the United States (X units), more than tenfold. The third position in this ranking was held by the UK (X units), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.3% per year) and the UK (+29.8% per year).

In value terms, China ($X) remains the key foreign market for vacuum vessels exports from Hong Kong SAR, comprising 89% of total exports. The second position in the ranking was taken by the United States ($X), with a 2% share of total exports. It was followed by Macao SAR, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.6% per year) and Macao SAR (-14.5% per year).

Export Prices by Country

In 2022, the average vacuum vessel export price amounted to $X per unit, waning by -91.9% against the previous year. Over the period under review, the export price recorded a deep setback. The growth pace was the most rapid in 2016 an increase of 104%. The export price peaked at $X per unit in 2021, and then contracted significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-8.6%), while the prices for the other major destinations experienced a decline.

Vacuum Vessel Imports

Imports into Hong Kong SAR, China

In 2022, the amount of vacuum vessels imported into Hong Kong SAR reduced to X units, dropping by -14.6% compared with the previous year. In general, imports recorded a pronounced descent. The pace of growth appeared the most rapid in 2021 when imports increased by 44%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, vacuum vessel imports dropped significantly to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +12.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 44% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest vacuum vessel supplier to Hong Kong SAR, with a 60% share of total imports. Moreover, vacuum vessel imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), twofold. The Philippines (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+28.5% per year) and the Philippines (+76.5% per year).

In value terms, China ($X), Malaysia ($X) and the Philippines ($X) were the largest vacuum vessel suppliers to Hong Kong SAR, together comprising 86% of total imports.

Among the main suppliers, the Philippines, with a CAGR of +91.8%, recorded 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

In 2022, the average vacuum vessel import price amounted to $X per unit, with a decrease of -8.6% against the previous year. Overall, the import price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2016 an increase of 41% against the previous year. The import price peaked at $X per unit in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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