Hong Kong SAR, China - Boring Or Sinking Machinery - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBoring Machinery Price in Hong Kong SAR - 2023
Contents:
- Boring Machinery Price in Hong Kong SAR (CIF) - 2023
- Boring Machinery Price in Hong Kong SAR (FOB) - 2022
- Boring Machinery Imports in Hong Kong SAR
- Boring Machinery Exports in Hong Kong SAR
Boring Machinery Price in Hong Kong SAR (CIF) - 2023
In September 2023, the average boring machinery import price amounted to $293K per unit, picking up by 1,090% against the previous month. Over the period under review, the import price showed buoyant growth. The growth pace was the most rapid in March 2023 when the average import price increased by 1,264% against the previous month. Over the period under review, average import prices attained the maximum at $349K per unit in October 2022; afterwards, it flattened through to September 2023.
As there is only one major supplying country, the average price level is determined by prices for South Korea.
From September 2022 to September 2023, the rate of growth in terms of prices for Japan amounted to +1.3% per month.
Boring Machinery Price in Hong Kong SAR (FOB) - 2022
In 2022, the average boring machinery export price amounted to $401,027 per unit, picking up by 121% against the previous year. Overall, the export price saw a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($741,753 per unit), while the average price for exports to Singapore ($113,970 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 South Korea (+56.9%), while the prices for the other major destinations experienced more modest paces of growth.
Boring Machinery Imports in Hong Kong SAR
For the fourth consecutive year, Hong Kong SAR recorded growth in supplies from abroad of boring or sinking machinery, which increased by 122% to 198 units in 2022. Overall, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, boring machinery imports skyrocketed to $10M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Boring Machinery in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Macao SAR | N/A | 4.9 | N/A | 4.3 | -6.3% |
| South Korea | 3.7 | 2.1 | 6.3 | 2.7 | -10.0% |
| China | 1.4 | 0.5 | 1.2 | 2.3 | 18.0% |
| Germany | N/A | N/A | N/A | 0.8 | 0% |
| Japan | N/A | N/A | 0.1 | 0.2 | 100.0% |
| Singapore | 1.0 | 0.1 | N/A | N/A | -90.0% |
| Netherlands | N/A | 1.1 | N/A | N/A | 0% |
| Others | 0.4 | 0.4 | 0.1 | N/A | -50.0% |
| Total | 6.5 | 9.3 | 7.8 | 10.3 | 16.6% |
Top Suppliers of Boring Machinery to Hong Kong SAR in 2022:
- Macao SAR (83.0 units)
- South Korea (51.0 units)
- China (46.0 units)
- Germany (12.0 units)
- Japan (6.0 units)
Boring Machinery Exports in Hong Kong SAR
In 2022, shipments abroad of boring or sinking machinery decreased by -78.4% to 8 units for the first time since 2018, thus ending a three-year rising trend. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 300%. The exports peaked at 37 units in 2021, and then dropped sharply in the following year.
In value terms, boring machinery exports shrank dramatically to $3.2M in 2022. In general, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 368% against the previous year. Over the period under review, the exports reached the maximum at $6.8M in 2021, and then declined notably in the following year.
| Export of Boring Machinery in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | N/A | N/A | 1.2 | 2.2 | 83.3% |
| Macao SAR | 0.5 | 4.7 | 5.0 | 0.8 | 17.0% |
| Singapore | 0.7 | 0.2 | N/A | 0.1 | -47.7% |
| China | N/A | 0.2 | 0.5 | N/A | 150.0% |
| United Arab Emirates | N/A | 0.5 | N/A | N/A | 0% |
| Others | 0.1 | 0.3 | 0.1 | 0.1 | 0.0% |
| Total | 1.3 | 5.9 | 6.8 | 3.2 | 35.0% |
Top Export Markets for Boring Machinery from Hong Kong SAR in 2022:
- Macao SAR (4.0 units)
- South Korea (3.0 units)
- Singapore (1.0 units)
This report provides an in-depth analysis of the boring machinery 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 28921255 - Boring or sinking machinery (including fixed platforms used for oil or natural gas exploration) (excluding self-propelled)
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
-
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
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