Report Update: Oct 1, 2023
Hong Kong SAR, China - Electric Space Heating Apparatus And Soil Heating Apparatus - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Sep 16, 2023
Price per Unit of Electric Heating Equipment in Hong Kong Surges to $75.1
Hong Kong Electric Heating Equipment Import Price in June 2023
In June 2023, the electric heating equipment price stood at $75.1 per unit (CIF, Hong Kong), surging by 2.5% against the previous month. Overall, the import price, however, saw a noticeable decline. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 82% month-to-month. As a result, import price attained the peak level of $154K per thousand units. From September 2022 to June 2023, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From June 2022 to June 2023, the rate of growth in terms of prices for China amounted to -1.1% per month.
| COUNTRY | Import Price of Electric Heating Equipment in Hong Kong (USD per unit) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | |
| China | 92.1 | 79.8 | 71.6 | 32.7 | 30.8 | 36.0 | 35.9 | 62.4 | 68.8 | 36.9 | 64.9 | 60.6 | 80.8 |
| Malaysia | 316 | 269 | 480 | 282 | 367 | 396 | 436 | 298 | 291 | 370 | 452 | 225 | N/A |
| Average | 120 | 84.6 | 154 | 86.2 | 96.6 | 75.5 | 81.4 | 96.9 | 139 | 66.5 | 66.0 | 73.3 | 75.1 |
Hong Kong Electric Heating Equipment Import Prices by Type
As there is only one major imported type of electric heating equipment, the average price level is determined by prices for electric radiators and convection heaters.
From June 2022 to June 2023, the rate of growth in terms of prices for electric heating radiator amounted to 0.0% per month.
Hong Kong Electric Heating Equipment Imports
In June 2023, after two months of growth, there was significant decline in supplies from abroad of electric space heating apparatus and soil heating apparatus, when their volume decreased by -20.2% to 7.4K units. In general, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in September 2022 with an increase of 411% m-o-m. Over the period under review, imports hit record highs at 60K units in October 2022; however, from November 2022 to June 2023, imports failed to regain momentum.
In value terms, electric heating equipment imports fell remarkably to $556K (IndexBox estimates) in June 2023. Over the period under review, imports showed a deep contraction. The growth pace was the most rapid in September 2022 with an increase of 187% m-o-m. Over the period under review, imports reached the peak figure at 5.8M units in October 2022; however, from November 2022 to June 2023, imports remained at a lower figure.
Hong Kong Electric Heating Equipment Imports by Type
In June 2023, electric radiators and convection heaters (7.4K units) was the main type of electric heating equipment supplied to Hong Kong, with a approximately 100% share of total imports.
From June 2022 to June 2023, the average monthly growth rate of the volume of import of electric radiators and convection heaters amounted to -2.2%.
In value terms, electric radiators and convection heaters ($556K) constituted the largest type of electric heating equipment supplied to Hong Kong.
Hong Kong Electric Heating Equipment Imports by Country
In June 2023, China (6.8K units) was the main supplier of electric heating equipment to Hong Kong, accounting for a 91% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, the UK (570 units), more than tenfold.
From June 2022 to June 2023, the average monthly growth rate of volume from China stood at +5.2%.
In value terms, China ($546K) constituted the largest supplier of electric heating equipment to Hong Kong, comprising 98% of total imports. The second position in the ranking was held by the UK ($5K), with a 0.9% share of total imports.
From June 2022 to June 2023, the average monthly growth rate of value from China totaled +4.0%.
This report provides an in-depth analysis of the electric heating equipment market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 27512630 - Electric storage heating radiators
• Prodcom 27512650 - Electric radiators, convection heaters and heaters or fires with built-in fans
• Prodcom 27512690 - Other electric space heaters
Country coverage:
• Hong Kong SAR
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Hong Kong SAR, China
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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