Hong Kong SAR, China: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in Hong Kong SAR, China

In 2022, after two years of growth, there was significant decline in the Hong Kong railway maintenance vehicle market, when its value decreased by X% to $X. Overall, consumption, however, showed modest growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Railway Maintenance Vehicle Production in Hong Kong SAR, China

In value terms, railway maintenance vehicle production reduced to $X in 2022 estimated in export price. In general, production, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Railway maintenance vehicle production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Railway Maintenance Vehicle Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of railway or tramway maintenance or service vehicles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, railway maintenance vehicle exports reduced remarkably to $X in 2022. Overall, exports continue to indicate a significant decline. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Germany (X units) were the main destinations of railway maintenance vehicle exports from Hong Kong SAR, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for railway or tramway maintenance or service vehicles exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Germany, 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: Malaysia (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average railway maintenance vehicle export price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price, however, continues to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs 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 ($X per unit), while the average price for exports to Indonesia ($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 Malaysia (X%), while the prices for the other major destinations experienced a decline.

Railway Maintenance Vehicle Imports

Imports into Hong Kong SAR, China

After two years of growth, purchases abroad of railway or tramway maintenance or service vehicles decreased by X% to X units in 2022. Over the period under review, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, railway maintenance vehicle imports contracted significantly to $X in 2022. Overall, imports, however, showed significant growth. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the UK (X units) constituted the largest supplier of railway maintenance vehicle to Hong Kong SAR, accounting for a X% share of total imports. Moreover, railway maintenance vehicle imports from the UK exceeded the figures recorded by the second-largest supplier, China (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK amounted to X%.

In value terms, China ($X) constituted the largest supplier of railway or tramway maintenance or service vehicles to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest.

Import Prices by Country

The average railway maintenance vehicle import price stood at $X,494 per unit in 2022, with an increase of X% against the previous year. Overall, the import price showed a significant expansion. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 China ($X,919 per unit), while the price for the UK stood at $X per unit.

From 2012 to 2022, 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

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