Hong Kong SAR, China: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Hong Kong SAR, China

In 2022, the Hong Kong air conditioning machine market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Air Conditioning Machine Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of non-window or wall air conditioning machines decreased by X% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports faced a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, air conditioning machine exports contracted markedly to $X in 2022. In general, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Macao SAR (X units) was the main destination for air conditioning machine exports from Hong Kong SAR, with a X% share of total exports. Moreover, air conditioning machine exports to Macao SAR exceeded the volume sent to the second major destination, Iran (X units), fivefold. The United States (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and the United States (X% per year).

In value terms, Macao SAR ($X) remains the key foreign market for non-window or wall air conditioning machines exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by China ($X), with an X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and France (X% per year).

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Iran ($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 Macao SAR (X%), while the prices for the other major destinations experienced a decline.

Air Conditioning Machine Imports

Imports into Hong Kong SAR, China

In 2022, the amount of non-window or wall air conditioning machines imported into Hong Kong SAR shrank slightly to X units, waning by X% compared with 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, air conditioning machine imports stood at $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Thailand (X units) and Malaysia (X units) were the main suppliers of air conditioning machine imports to Hong Kong SAR, with a combined X% share of total imports.

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

In value terms, the largest air conditioning machine suppliers to Hong Kong SAR were China ($X), Thailand ($X) and Malaysia ($X), together accounting for X% of total imports.

Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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