Hong Kong SAR, China - Refrigerating And Freezing Equipment And Heat Pumps (Except Household Type Equipment) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCommercial Refrigeration Equipment Price in Hong Kong SAR - 2023
Contents:
- Commercial Refrigeration Equipment Price in Hong Kong SAR (CIF) - 2023
- Commercial Refrigeration Equipment Price in Hong Kong SAR (FOB) - 2023
- Commercial Refrigeration Equipment Imports in Hong Kong SAR
- Commercial Refrigeration Equipment Exports in Hong Kong SAR
Commercial Refrigeration Equipment Price in Hong Kong SAR (CIF) - 2023
In September 2023, the average commercial refrigeration equipment import price amounted to $234 per unit, with a decrease of -23.5% against the previous month. Over the period under review, the import price recorded a perceptible downturn. The pace of growth was the most pronounced in December 2022 an increase of 16% against the previous month. Over the period under review, average import prices hit record highs at $349 per unit in July 2023; however, from August 2023 to September 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Thailand ($800 per unit), while the price for China ($152 per unit) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Japan (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Commercial Refrigeration Equipment Price in Hong Kong SAR (FOB) - 2023
The average commercial refrigeration equipment export price stood at $316 per unit in September 2023, remaining relatively unchanged against the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 when the average export price increased by 22% m-o-m. As a result, the export price attained the peak level of $323 per unit. From August 2023 to September 2023, the the average export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In September 2023, the countries with the highest prices were Singapore ($315 per unit) and the United States ($309 per unit), while the average price for exports to Malaysia ($307 per unit) and China ($309 per unit) were amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Commercial Refrigeration Equipment Imports in Hong Kong SAR
For the fourth consecutive year, Hong Kong SAR recorded growth in overseas purchases of refrigerating and freezing equipment and heat pumps (except household type equipment), which increased by 6.6% to 225K units in 2022. The total import volume increased at an average annual rate of +12.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, commercial refrigeration equipment imports declined to $66M in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. As a result, imports attained the peak of $75M, and then declined in the following year.
| Import of Commercial Refrigeration Equipment in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 28.4 | 24.9 | 33.2 | 32.0 | 4.1% |
| Japan | 6.1 | 5.9 | 11.0 | 7.6 | 7.6% |
| Germany | 3.4 | 3.1 | 3.9 | 5.2 | 15.2% |
| United States | 2.0 | 7.3 | 3.0 | 4.3 | 29.1% |
| Taiwan (Chinese) | 4.3 | 5.7 | 4.8 | 3.3 | -8.4% |
| Thailand | 1.8 | 2.9 | 4.6 | 3.2 | 21.1% |
| Italy | 3.7 | 4.2 | 4.7 | 2.7 | -10.0% |
| United Kingdom | 1.2 | 0.5 | 0.8 | 2.1 | 20.5% |
| Netherlands | 0.3 | 0.5 | 0.7 | 0.9 | 44.2% |
| Singapore | 1.0 | 0.4 | 1.2 | 0.6 | -15.7% |
| Others | 8.7 | 5.7 | 6.9 | 4.4 | -20.3% |
| Total | 60.7 | 61.2 | 74.8 | 66.1 | 2.9% |
Top Suppliers of Commercial Refrigeration Equipment to Hong Kong SAR in 2022:
- China (132.8K units)
- Japan (22.5K units)
- United States (15.8K units)
- Germany (9.3K units)
- Italy (8.6K units)
- United Kingdom (8.1K units)
- Thailand (6.9K units)
- Taiwan (Chinese) (5.2K units)
- Netherlands (3.5K units)
- Singapore (2.1K units)
Commercial Refrigeration Equipment Exports in Hong Kong SAR
For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of refrigerating and freezing equipment and heat pumps (except household type equipment), which decreased by -4.8% to 48K units in 2022. Overall, exports saw a deep reduction. The smallest decline of -1.4% was in 2020. Over the period under review, the exports attained the peak figure at 58K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, commercial refrigeration equipment exports dropped to $13M in 2022. In general, exports showed a deep slump. The smallest decline of -8.7% was in 2020. Over the period under review, the exports reached the peak figure at $19M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Commercial Refrigeration Equipment in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 8.9 | 7.7 | 4.6 | 5.2 | -16.4% |
| United States | 2.5 | 3.6 | 4.6 | 3.3 | 9.7% |
| Singapore | 0.5 | 0.3 | 1.1 | 0.8 | 17.0% |
| Macao SAR | 2.3 | 1.6 | 1.8 | 0.8 | -29.7% |
| Italy | N/A | N/A | N/A | 0.5 | 0% |
| Taiwan (Chinese) | 0.5 | 0.6 | 0.6 | 0.4 | -7.2% |
| Japan | 1.1 | 0.4 | 0.5 | 0.4 | -28.6% |
| Iran | N/A | N/A | N/A | 0.4 | 0% |
| Germany | 0.4 | 0.3 | 0.2 | 0.2 | -20.6% |
| Netherlands | 0.4 | 0.5 | N/A | 0.1 | -37.0% |
| Others | 2.2 | 2.1 | 1.9 | 1.5 | -12.0% |
| Total | 18.8 | 17.2 | 15.4 | 13.5 | -10.5% |
Top Export Markets for Commercial Refrigeration Equipment from Hong Kong SAR in 2022:
- China (19.5K units)
- United States (12.9K units)
- Singapore (3.0K units)
- Italy (1.9K units)
- Japan (1.5K units)
- Iran (1.4K units)
- Macao SAR (1.3K units)
- Taiwan (Chinese) (1.0K units)
- Germany (0.6K units)
- Netherlands (0.2K units)
This report provides an in-depth analysis of the commercial refrigeration 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 28251333 - Refrigerated show-cases and counters incorporating a refrigerating unit or evaporator for frozen food storage
- Prodcom 28251335 - Refrigerated show-cases and counters incorporating a refrigerating unit or evaporator (excluding for frozen food storage)
- Prodcom 28251340 -
- Prodcom 28251350 -
- Prodcom 28251380 - Heat pumps other than air conditioning machines of HS
- Prodcom 28251390 - Other refrigerating or freezing equipment
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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