Hong Kong SAR, China: Market for Turbo-Propellers Of A Power Exceeding 1,100 kW 2024

Market Size for Turbo-Propellers Of A Power Exceeding 1,100 kW in Hong Kong SAR, China

In 2023, the Hong Kong turbo-propeller (over X kW) market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. In general, consumption posted a significant increase. Turbo-propeller (over X kW) consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Production of Turbo-Propellers Of A Power Exceeding X kW in Hong Kong SAR, China

In value terms, turbo-propeller (over X kW) production reached $X in 2023 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; afterwards, it flattened through to 2023.

Exports of Turbo-Propellers Of A Power Exceeding 1,100 kW

Exports from Hong Kong SAR, China

In 2023, after two years of growth, there was significant decline in shipments abroad of turbo-propellers of a power exceeding X kW, when their volume decreased by X% to X units. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then shrank sharply in the following year.

In value terms, turbo-propeller (over X kW) exports reduced rapidly to $X in 2023. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then dropped notably in the following year.

Exports by Country

South Korea (X units), Malaysia (X units) and Zimbabwe (X units) were the main destinations of turbo-propeller (over X kW) exports from Hong Kong SAR, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) emerged as the key foreign market for turbo-propellers of a power exceeding X kW exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Zimbabwe, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to South Korea stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Zimbabwe (X% per year).

Export Prices by Country

The average turbo-propeller (over X kW) export price stood at $X per unit in 2023, reducing by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per unit in 2022, and then fell rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X,406 per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo-Propellers Of A Power Exceeding 1,100 kW

Imports into Hong Kong SAR, China

In 2023, overseas purchases of turbo-propellers of a power exceeding X kW were finally on the rise to reach X units for the first time since 2020, thus ending a two-year declining trend. In general, imports saw a significant expansion. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, turbo-propeller (over X kW) imports soared to $X in 2023. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Ukraine (X units) constituted the largest supplier of turbo-propeller (over X kW) to Hong Kong SAR, with a X% share of total imports. Moreover, turbo-propeller (over X kW) imports from Ukraine exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold. The third position in this ranking was taken by France (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Ukraine totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and France (X% per year).

In value terms, Ukraine ($X) constituted the largest supplier of turbo-propellers of a power exceeding X kW to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Ukraine amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Singapore (X% per year).

Import Prices by Country

The average turbo-propeller (over X kW) import price stood at $X per unit in 2023, with an increase of X% against the previous year. Overall, the import price enjoyed tangible growth. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Ukraine ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform