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Hong Kong SAR, China - Motor Vehicle Engines (Spark-Ignition) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMotor Vehicle Engine Price in Hong Kong SAR - 2023
Contents:
- Motor Vehicle Engine Price in Hong Kong SAR (FOB) - 2022
- Motor Vehicle Engine Price in Hong Kong SAR (CIF) - 2023
- Motor Vehicle Engine Exports in Hong Kong SAR
- Motor Vehicle Engine Imports in Hong Kong SAR
Motor Vehicle Engine Price in Hong Kong SAR (FOB) - 2022
In 2022, the average motor vehicle engine export price amounted to $23 per unit, surging by 7.9% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2020 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were South Korea ($25 per unit) and Malaysia ($25 per unit), while the average price for exports to the United States ($20 per unit) and Israel ($20 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.
Motor Vehicle Engine Price in Hong Kong SAR (CIF) - 2023
In June 2023, the average motor vehicle engine import price amounted to $848 per unit, rising by 34% against the previous month. In general, the import price recorded pronounced growth. The growth pace was the most rapid in February 2023 an increase of 152% against the previous month. Over the period under review, average import prices hit record highs at $1,841 per unit in April 2023; however, from May 2023 to June 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was China ($2,489 per unit), while the price for Japan amounted to $707 per unit.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by China (+16.0%).
Motor Vehicle Engine Exports in Hong Kong SAR
In 2022, approx. 322K units of motor vehicle engines (spark-ignition) were exported from Hong Kong SAR; rising by 50% on the year before. In general, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +12.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, motor vehicle engine exports skyrocketed to $7.3M in 2022. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 73%. The exports peaked in 2022 and are expected to retain growth in the near future.
Export of Motor Vehicle Engine in Hong Kong SAR (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Taiwan (Chinese) | 242 | 2,871 | 644 | 1,652 | 89.7% |
South Korea | 2.9 | 562 | 1,133 | 1,443 | 692.4% |
Malaysia | 197 | 366 | 809 | 1,029 | 73.5% |
Thailand | 403 | 131 | 654 | 846 | 28.0% |
South Africa | 691 | 341 | 189 | 501 | -10.2% |
Pakistan | 61.9 | 217 | 383 | 496 | 100.1% |
Nigeria | 678 | 287 | 162 | 461 | -12.1% |
China | 163 | 496 | 129 | 343 | 28.1% |
Israel | 346 | 101 | 176 | 253 | -9.9% |
Brazil | 73.9 | 12.3 | 26.3 | 22.6 | -32.6% |
Others | 417 | 292 | 226 | 268 | -13.7% |
Total | 3,275 | 5,675 | 4,531 | 7,315 | 30.7% |
Top Export Markets for Motor Vehicle Engine from Hong Kong SAR in 2022:
- Taiwan (Chinese) (71.3K units)
- South Korea (57.9K units)
- Malaysia (41.3K units)
- Thailand (36.0K units)
- South Africa (24.1K units)
- Nigeria (22.3K units)
- Pakistan (20.3K units)
- China (14.6K units)
- Israel (12.7K units)
- Brazil (8.3K units)
Motor Vehicle Engine Imports in Hong Kong SAR
In 2022, motor vehicle engine imports into Hong Kong SAR reduced markedly to 83K units, waning by -48.4% on the previous year. Over the period under review, imports showed a dramatic setback. The smallest decline of -15% was in 2021. Over the period under review, imports reached the maximum at 282K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, motor vehicle engine imports declined remarkably to $1.7M in 2022. In general, imports showed a precipitous curtailment. The smallest decline of -8% was in 2021. Imports peaked at $4.6M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
Import of Motor Vehicle Engine in Hong Kong SAR (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 3,027 | 1,601 | 1,424 | 847 | -34.6% |
Malaysia | 579 | 827 | 301 | 300 | -19.7% |
United States | 476 | 45.3 | 321 | 147 | -32.4% |
United Kingdom | 120 | 57.9 | 304 | 137 | 4.5% |
Singapore | 215 | 116 | 27.0 | 57.4 | -35.6% |
Germany | 91.8 | 190 | 47.3 | 46.0 | -20.6% |
Italy | 44.0 | 51.8 | 69.5 | 42.6 | -1.1% |
Others | 78.4 | 546 | 666 | 75.0 | -1.5% |
Total | 4,632 | 3,436 | 3,160 | 1,652 | -29.1% |
Top Suppliers of Motor Vehicle Engine to Hong Kong SAR in 2022:
- Japan (38.9K units)
- Malaysia (14.3K units)
- United States (7.3K units)
- United Kingdom (6.8K units)
- Italy (5.8K units)
- Singapore (2.8K units)
- Germany (2.1K units)
This report provides an in-depth analysis of the motor vehicle engine market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29101100 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity . 1 .000 cm.
- Prodcom 29101200 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity > 1 .000 cm.
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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