Hong Kong SAR, China: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Hong Kong SAR, China

The Hong Kong market for vacuum pumps and air or gas compressors reduced slightly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Hong Kong SAR, China

In value terms, production of vacuum pumps and air or gas compressors rose markedly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Production of peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Hong Kong SAR, China

In 2022, overseas shipments of vacuum pumps and air or gas compressors increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors surged to $X in 2022. In general, exports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

China (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Hong Kong SAR, with a X% share of total exports. It was followed by the United States (X units), with a X% share of total exports. Vietnam (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Vietnam (X% per year).

In value terms, China ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Japan (X% per year).

Export Prices by Country

The average export price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, 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 Japan ($X per unit), while the average price for exports to the United States ($X 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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Hong Kong SAR, China

In 2022, overseas purchases of vacuum pumps and air or gas compressors increased by X% to X units, rising for the fifth year in a row after four years of decline. Over the period under review, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of vacuum pumps and air or gas compressors fell to $X in 2022. Overall, imports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Taiwan (Chinese) (X units) were the main suppliers of imports of vacuum pumps and air or gas compressors to Hong Kong SAR, together accounting for X% of total imports. The Philippines, Japan, Germany, Switzerland, Singapore and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of vacuum pumps and air or gas compressors to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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