Hong Kong SAR, China: Wheeled Loader Market 2024

Wheeled Loader Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong wheeled loader market decreased by -9.5% to $X in 2021. Over the period under review, consumption showed a noticeable decrease. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Wheeled Loader Production in Hong Kong SAR, China

In value terms, wheeled loader production fell significantly to $X in 2021 estimated in export price. In general, production recorded a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 278%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Wheeled Loader Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of wheeled loaders, crawler shovel loaders, front-end loaders were exported from Hong Kong SAR; which is down by -96.7% against 2020. In general, exports continue to indicate a sharp setback. The pace of growth was the most pronounced in 2018 when exports increased by 969% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, wheeled loader exports dropped sharply to $X in 2021. Overall, exports showed a sharp slump. The growth pace was the most rapid in 2018 with an increase of 508% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Zimbabwe (X units), Malaysia (X units) and Macao SAR (X units) were the main destinations of wheeled loader exports from Hong Kong SAR, with a combined 80% share of total exports. Moreover, wheeled loader exports in Zimbabwe exceeded the figures recorded by the second-largest exporter, Malaysia, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the key foreign market for wheeled loaders, crawler shovel loaders, front-end loaders exports from Hong Kong SAR, comprising 70% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports. It was followed by Zimbabwe, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+20.6% per year) and Zimbabwe (0.0% per year).

Export Prices by Country

In 2021, the average wheeled loader export price amounted to $X per unit, surging by 193% against the previous year. In general, the export price showed a resilient increase. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Zimbabwe ($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 (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wheeled Loader Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of wheeled loaders, crawler shovel loaders, front-end loaders decreased by -27.8% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports saw a mild contraction. The most prominent rate of growth was recorded in 2015 with an increase of 159% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, wheeled loader imports declined sharply to $X in 2021. In general, imports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2015 with an increase of 162%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Germany (X units) were the main suppliers of wheeled loader imports to Hong Kong SAR, with a combined 82% share of total imports. These countries were followed by Japan and Sweden, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +200.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of wheeled loaders, crawler shovel loaders, front-end loaders to Hong Kong SAR, comprising 41% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.9% per year) and Japan (-6.5% per year).

Import Prices by Country

The average wheeled loader import price stood at $X per unit in 2021, surging by 10% against the previous year. Overall, the import price showed a notable increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 74%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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