Hong Kong SAR, China: Roller Bearing Market 2024

Roller Bearing Market Size in Hong Kong SAR, China

The Hong Kong roller bearing market stood at $X in 2023, surging by X% against the previous year. Over the period under review, consumption, however, faced a abrupt slump. As a result, consumption attained the peak level of $X. From 2016 to 2023, the growth of the market failed to regain momentum.

Roller Bearing Production in Hong Kong SAR, China

In value terms, roller bearing production soared to $X in 2023 estimated in export price. Overall, production, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Hong Kong SAR, China

In 2023, approx. X tons of roller bearings were exported from Hong Kong SAR; reducing by X% on 2022. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, roller bearing exports declined to $X in 2023. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of X%. The Hong Kong SAR exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporter of roller bearings in the world, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Germany (X tons) took the second position in the ranking, followed by France (X tons), Singapore (X tons), Slovakia (X tons) and Italy (X tons). All these countries together held approx. X% share of total exports. South Korea (X tons), the United States (X tons), Vietnam (X tons), the Netherlands (X tons), Turkey (X tons), Austria (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the roller bearings exports, with a CAGR of X% from 2012 to 2023. At the same time, the Netherlands (X%), Vietnam (X%) and Turkey (X%) displayed positive paces of growth. Germany and Slovakia experienced a relatively flat trend pattern. By contrast, Italy (X%), Taiwan (Chinese) (X%), France (X%), Singapore (X%), the United States (X%), South Korea (X%) and Austria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Vietnam and the Netherlands increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Hong Kong SAR were China ($X), Germany ($X) and Italy ($X), together accounting for X% of total exports. The United States, Singapore, France, Vietnam, the Netherlands, Slovakia, Turkey, South Korea, Taiwan (Chinese) and Austria lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Hong Kong SAR stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Hong Kong SAR, China

Roller bearing imports into Hong Kong SAR dropped dramatically to X tons in 2023, with a decrease of X% against the year before. In general, imports recorded a sharp setback. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, roller bearing imports shrank dramatically to $X in 2023. Over the period under review, imports recorded a abrupt decline. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Hong Kong SAR imports peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Indonesia (X tons), followed by Thailand (X tons), India (X tons) and Germany (X tons) were the largest importers of roller bearings, together constituting X% of total imports. South Korea (X tons), Italy (X tons), Canada (X tons), Poland (X tons), Nigeria (X tons), France (X tons), Austria (X tons), Spain (X tons) and Malaysia (X tons) took a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Canada, Thailand, Poland, Italy, France, Malaysia, South Korea, Austria, Spain and Nigeria lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Hong Kong SAR stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform