Hong Kong SAR, China: Market for Vacuum Cleaners With Motor 2022

Market Size for Vacuum Cleaners With Motor in Hong Kong SAR, China

In 2021, the Hong Kong vacuum cleaner with motor market increased by 20% to $X, rising for the second year in a row after six years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Vacuum Cleaners With Motor in Hong Kong SAR, China

In value terms, vacuum cleaner with motor production shrank notably to $X in 2021 estimated in export price. Overall, production showed a significant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 15,033% against the previous year. Vacuum cleaner with motor production peaked at $X in 2020, and then reduced notably in the following year.

Exports of Vacuum Cleaners With Motor

Exports from Hong Kong SAR, China

In 2021, shipments abroad of vacuum cleaners with motor increased by 14% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2017 when exports increased by 368% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, vacuum cleaner with motor exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 472% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Russia (X tons), Turkey (X tons) and the United States (X tons) were the main destinations of vacuum cleaner with motor exports from Hong Kong SAR, with a combined 59% share of total exports. These countries were followed by Japan, the United Arab Emirates, Germany, Poland, the Netherlands, China, Australia, Sweden, Ukraine, Greece, the UK and Hungary, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +202.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United States ($X) and Japan ($X) constituted the largest markets for vacuum cleaner with motor exported from Hong Kong SAR worldwide, together comprising 52% of total exports. These countries were followed by China, Russia, the United Arab Emirates, Germany, Poland, the Netherlands, Australia, Sweden, Ukraine, Hungary, Greece and the UK, which together accounted for a further 46%.

China, with a CAGR of +209.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average vacuum cleaner with motor export price amounted to $X per ton, picking up by 6.2% against the previous year. In general, the export price posted buoyant growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 26% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Cleaners With Motor

Imports into Hong Kong SAR, China

In 2021, supplies from abroad of vacuum cleaners with motor increased by 15% to X tons, rising for the fifth consecutive year after three years of decline. Over the period under review, imports recorded a strong increase. The pace of growth was the most pronounced in 2013 when imports increased by 153%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, vacuum cleaner with motor imports surged to $X in 2021. In general, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 242%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest vacuum cleaner with motor supplier to Hong Kong SAR, accounting for a 74% share of total imports. Moreover, vacuum cleaner with motor imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+45.3% per year) and the United States (+14.9% per year).

In value terms, China ($X) constituted the largest supplier of vacuum cleaner with motor to Hong Kong SAR, comprising 74% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total imports. It was followed by the United States, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+57.5% per year) and the United States (+24.8% per year).

Import Prices by Country

In 2021, the average vacuum cleaner with motor import price amounted to $X per ton, surging by 14% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vacuum cleaner with motor import price increased by +62.4% against 2015 indices. The pace of growth appeared the most rapid in 2013 an increase of 35%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Malaysia ($X per ton) and the United Arab Emirates ($X per ton), while the price for Germany ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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