Hong Kong SAR, China: Vapour Power Unit Market 2023

Vapour Power Unit Market Size in Hong Kong SAR, China

In 2021, the Hong Kong vapour power unit market decreased by -94.7% to $X, falling for the third year in a row after three years of growth. In general, consumption continues to indicate a sharp reduction. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Vapour Power Unit Production in Hong Kong SAR, China

In value terms, vapour power unit production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 49%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Vapour Power Unit Exports

Exports from Hong Kong SAR, China

After two years of decline, shipments abroad of condensers for steam or other vapour power units increased by 8,040% to X tons in 2021. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vapour power unit exports soared to $X in 2021. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria (X tons) was the main destination for vapour power unit exports from Hong Kong SAR, with a 87% share of total exports. Moreover, vapour power unit exports to Nigeria exceeded the volume sent to the second major destination, Barbados (X tons), tenfold. Zimbabwe (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume to Nigeria amounted to +65.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+44,825.0% per year) and Zimbabwe (-13.2% per year).

In value terms, Nigeria ($X) remains the key foreign market for vapour power unit exports from Hong Kong SAR, comprising 76% of total exports. The second position in the ranking was taken by Barbados ($X), with a 9.1% share of total exports. It was followed by China, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value to Nigeria amounted to +62.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+33,444.8% per year) and China (+16.4% per year).

Export Prices by Country

In 2021, the average vapour power unit export price amounted to $X per ton, waning by -39.5% against the previous year. Overall, the export price saw a perceptible reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 118%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.2%), while the prices for the other major destinations experienced a decline.

Vapour Power Unit Imports

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of condensers for steam or other vapour power units decreased by -97.8% to X kg, falling for the third year in a row after three years of growth. Over the period under review, imports recorded a precipitous decrease. The pace of growth appeared the most rapid in 2018 with an increase of 830% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vapour power unit imports dropped dramatically to $X in 2021. Overall, imports saw a sharp decline. The growth pace was the most rapid in 2018 when imports increased by 703%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X kg) was the main vapour power unit supplier to Hong Kong SAR, accounting for a 93% share of total imports. Moreover, vapour power unit imports from South Korea exceeded the figures recorded by the second-largest supplier, the Netherlands (X kg), more than tenfold. China (X kg) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to -18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+51.6% per year) and China (-63.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of vapour power unit to Hong Kong SAR, comprising 94% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 3.5% share of total imports. It was followed by China, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at -20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+58.7% per year) and China (-67.6% per year).

Import Prices by Country

The average vapour power unit import price stood at $X per ton in 2021, reducing by -6.8% against the previous year. Over the period under review, the import price continues to indicate a noticeable descent. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+16.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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