
Hong Kong SAR, China - Machines for Balancing Mechanical Parts - Market Analysis, Forecast, Size, Trends and Insights
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Hong Kong SAR, China: Market for Machines For Balancing Mechanical Parts 2022
Market Size for Machines For Balancing Mechanical Parts in Hong Kong SAR, China
The Hong Kong balancing mechanical parts machine market contracted significantly to $X in 2021, shrinking by -X% against the previous year. Over the period under review, consumption recorded a pronounced descent. Balancing mechanical parts machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.
Production of Machines For Balancing Mechanical Parts in Hong Kong SAR, China
In value terms, balancing mechanical parts machine production surged to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.
Exports of Machines For Balancing Mechanical Parts
Exports from Hong Kong SAR, China
In 2021, shipments abroad of machines for balancing mechanical parts increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.
In value terms, balancing mechanical parts machine exports surged to $X in 2021. In general, exports showed a notable expansion. The growth pace was the most rapid in 2020 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.
Exports by Country
China (X units) was the main destination for balancing mechanical parts machine exports from Hong Kong SAR, with a X% share of total exports. Moreover, balancing mechanical parts machine exports to China exceeded the volume sent to the second major destination, the United States (X units), fivefold.
From 2012 to 2021, the average annual growth rate of volume to China amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+X% per year) and Taiwan (Chinese) (+X% per year).
In value terms, China ($X) remains the key foreign market for balancing mechanical parts machine exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by the United States ($X), with a X% share of total exports.
From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+X% per year) and Taiwan (Chinese) (+X% per year).
Export Prices by Country
The average balancing mechanical parts machine export price stood at $X per unit in 2021, shrinking by -X% against the previous year. In general, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+X%), while the prices for the other major destinations experienced a decline.
Imports of Machines For Balancing Mechanical Parts
Imports into Hong Kong SAR, China
In 2021, after three years of growth, there was significant decline in overseas purchases of machines for balancing mechanical parts, when their volume decreased by -X% to X units. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.
In value terms, balancing mechanical parts machine imports contracted dramatically to $X in 2021. In general, imports saw a abrupt descent. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.
Imports by Country
In 2021, Japan (X units) constituted the largest supplier of balancing mechanical parts machine to Hong Kong SAR, with a X% share of total imports. Moreover, balancing mechanical parts machine imports from Japan exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), twofold.
From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+X% per year) and China (+X% per year).
In value terms, Japan ($X) constituted the largest supplier of balancing mechanical parts machine to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was occupied by Taiwan (Chinese) ($X), with a X% share of total imports.
From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-X% per year) and China (-X% per year).
Import Prices by Country
In 2021, the average balancing mechanical parts machine import price amounted to $X per unit, with an increase of X% against the previous year. In general, the import price saw a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2021 | 2007-2021 | 2022-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for balancing mechanical parts machine 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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