Hong Kong SAR, China: Fuel Filter Market 2022

Fuel Filter Market Size in Hong Kong SAR, China

In 2021, the Hong Kong fuel filter market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a slight setback. Fuel filter consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Fuel Filter Exports

Exports from Hong Kong SAR, China

In 2021, approx. X units of oil or petrol-filters for internal combustion engines were exported from Hong Kong SAR; declining by -X% on the previous year. Overall, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, fuel filter exports reduced sharply to $X in 2021. In general, exports saw a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), the United States (X units) and Australia (X units) were the main destinations of fuel filter exports from Hong Kong SAR, with a combined X% share of total exports. The United Arab Emirates, Japan, Singapore and Malaysia lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for fuel filter exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was occupied by the United States ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2021, the average annual growth rate of value to China stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+X% per year) and Japan (+X% per year).

Export Prices by Country

The average fuel filter export price stood at $X per unit in 2021, growing by X% against the previous year. Over the period under review, the export price enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per unit), while the average price for exports to Australia ($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 Malaysia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Fuel Filter Imports

Imports into Hong Kong SAR, China

In 2021, after two years of decline, there was significant growth in supplies from abroad of oil or petrol-filters for internal combustion engines, when their volume increased by X% to X units. Over the period under review, imports, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth imports failed to regain momentum.

In value terms, fuel filter imports surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X units) constituted the largest fuel filter supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, fuel filter imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was occupied by Singapore (X units), with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Singapore (+X% per year).

In value terms, Singapore ($X), Malaysia ($X) and Japan ($X) appeared to be the largest fuel filter suppliers to Hong Kong SAR, with a combined X% share of total imports. These countries were followed by China, Germany, the UK and Bahrain, which together accounted for a further X, with a CAGR of +X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fuel filter import price stood at $X per unit in 2021, dropping by -X% against the previous year. Overall, the import price, however, posted a perceptible increase. The growth pace was the most rapid in 2017 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform