Hong Kong SAR, China - Power Tools - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHong Kong's Power Tool Price Increases Modestly to $61.3 per Unit
Hong Kong Power Tool Import Price in March 2023
In March 2023, the power tool price stood at $61.3 per unit (CIF, Hong Kong), with an increase of 5.7% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2022 an increase of 40% month-to-month. Over the period under review, average import prices reached the maximum at $87.0 per unit in December 2022; however, from January 2023 to March 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In March 2023, the country with the highest price was Taiwan (Chinese) ($184 per unit), while the price for China ($53.5 per unit) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Power Tool in Hong Kong (USD per unit) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | |
| Taiwan (Chinese) | 85.2 | 54.3 | 73.0 | 113 | N/A | 81.1 | 131 | 52.8 | 115 | 87.3 | 73.3 | 217 | 184 |
| Singapore | 156 | 182 | 139 | 200 | 130 | 138 | 148 | 195 | 140 | 173 | 172 | 156 | 175 |
| Japan | 133 | 169 | 62.4 | 345 | 153 | 732 | 134 | 524 | 232 | 72.8 | 153 | 207 | 87.6 |
| Malaysia | 66.3 | 270 | 66.1 | 49.3 | 48.3 | 27.0 | 49.4 | 64.4 | 53.6 | 49.2 | 43.2 | 69.6 | 67.4 |
| United States | 44.0 | 50.7 | 61.8 | 36.4 | 74.8 | 107 | 50.0 | 109 | 70.5 | 85.4 | 78.6 | 118 | 61.3 |
| China | 50.6 | 68.8 | 49.5 | 54.8 | 66.0 | 61.2 | 73.8 | 68.8 | 65.1 | 85.7 | 63.6 | 52.6 | 53.5 |
| Average | 55.1 | 77.1 | 58.4 | 69.5 | 73.4 | 81.9 | 77.5 | 76.9 | 71.7 | 87.0 | 72.3 | 58.0 | 61.3 |
Hong Kong Power Tool Import Prices by Type
There were significant differences in the average prices amongst the major supplied products. In March 2023, the product with the highest price was saws for working in the hand, with self-contained electric motor ($83.6 per unit), while the price for in-hand motor grinders, sanders and planers ($54.7 per unit) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by saws for working in the hand, with self-contained electric motor (+9.0%), while the prices for the other products experienced a decline.
Hong Kong Power Tool Imports
In March 2023, imports of power tools into Hong Kong fell to 66K units, with a decrease of -5.7% against the previous month's figure. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when imports increased by 73% against the previous month. As a result, imports reached the peak of 88K units. From September 2022 to March 2023, the growth of imports remained at a lower figure.
In value terms, power tool imports reduced to $4.1M (IndexBox estimates) in March 2023. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 with an increase of 93% against the previous month. As a result, imports reached the peak of $7.2M. From September 2022 to March 2023, the growth of imports remained at a lower figure.
Hong Kong Power Tool Imports by Type
In-hand motor grinders, sanders and planers (41K units), drills of all kinds for working in the hand, with self-contained electric motor (21K units) and saws for working in the hand, with self-contained electric motor (3.8K units) were the main products of power tool imports to Hong Kong, together comprising 99.9% of total imports.
From March 2022 to March 2023, the biggest increases were in drills of all kinds for working in the hand, with self-contained electric motor (with a CAGR of +3.8%), while purchases for the other products experienced mixed trend patterns.
In value terms, in-hand motor grinders, sanders and planers ($2.3M), drills of all kinds for working in the hand, with self-contained electric motor ($1.5M) and saws for working in the hand, with self-contained electric motor ($317K) appeared to be the most imported types of power tools in Hong Kong, with a combined 99.9% share of total imports.
Hong Kong Power Tool Imports by Country
In March 2023, China (56K units) constituted the largest supplier of power tool to Hong Kong, with a 84% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, Japan (4K units), more than tenfold. The United States (2.9K units) ranked third in terms of total imports with a 4.4% share.
From March 2022 to March 2023, the average monthly growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+22.0% per month) and the United States (-5.5% per month).
In value terms, China ($3M) constituted the largest supplier of power tool to Hong Kong, comprising 74% of total imports. The second position in the ranking was held by Japan ($353K), with an 8.7% share of total imports. It was followed by Singapore, with a 6.3% share.
From March 2022 to March 2023, the average monthly growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+17.9% per month) and Singapore (+9.4% per month).
This report provides an in-depth analysis of the power tool 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 28241113 - Electromechanical hand drills operated without an external source of power
- Prodcom 28241115 - Electropneumatic drills of all kinds for working in the hand
- Prodcom 28241117 - Electromechanical hand drills of all kinds (excluding those operated without an external source of power, e lectropneumatic)
- Prodcom 28241120 - Electromechanical hand tools operated without an external source of power (excluding drills, saws )
- Prodcom 28241123 - Electromechanical chainsaws
- Prodcom 28241125 - Electromechanical circular saws
- Prodcom 28241127 - Electromechanical handsaws (excluding chainsaws, circular saws)
- Prodcom 28241133 -
- Prodcom 28241135 -
- Prodcom 28241150 - Grinders, sanders and planers, for working in the hand, with self-contained electric motor, operating with an external source of power
- Prodcom 28241180 - Electromechanical hedge trimmers and lawn edge cutters
- Prodcom 28241185 - Electromechanical hand tools, with self-contained electric motor operating with an external source of power (excluding saws, drills, grinders, sanders, planers, hedge trimmers and lawn edge cutters)
- Prodcom 28241190 -
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
