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Hong Kong SAR, China: Electric Motor Driven Pulley Blocks and Hoists Market Anal

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The Hong Kong market for pulley tackle and hoists powered by an electric motor reduced sharply to $X in 2021, waning by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In general, consumption, however, recorded notable growth. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Exports of Pulley Tackle And Hoists Powered By An Electric Motor
Overseas shipments of electric motor-driven pulley tackle and hoists fell -X% to X units in 2021, the second year in a row of declines after three years of growth. Overall, exports recorded a deep decline. 2015 saw the fastest growth, with an increase of X% over the previous year. As a result, exports peak at X units.

From 2016 to 2021, export growth remains at a low figure. In value terms, exports of pulley tackle and hoists driven by electric motors are reduced to $X in 2021. Overall, there was a sudden drop in exports. The most prominent growth rate was in 2019, with an increase of X%. As a result, exports peak at $X. From 2020 to 2021, export growth will remain at a low figure.

China (X units) is the main destination for exports of electric pulleys and lifts from Hong Kong SAR, accounting for X% of the total exports. In addition, exports of electric pulleys and lifts to China were three times higher than exports to the second-largest destination, Macau Special Administrative Region (Taiwan X).

From 2012 to 2021, the average annual growth rate of sales to China is -X%. The average annual growth rate of exports to other major destinations is as follows: Macau SAR (+X% per annum) and Pakistan (-X% per annum).

In value terms, China ($X) remains the main foreign market for motor driven pulley tackle and hoists exported by Hong Kong SAR, accounting for X% of total exports. In second place is Macau SAR ($X), accounting for X% of total exports.

From 2012 to 2021, the average annual growth rate of China’s value is -X%. The average annual growth rate of exports to other major destinations is as follows: Macau SAR (+X% per annum) and Pakistan (-X% per annum)

Imports of Pulley Tackle And Hoists Powered By An Electric Motor
In 2021, after two years of growth, foreign purchases of electric motor-driven pulley tackle and hoists fell sharply, with their volume down by -X% to X units. Overall, imports followed a relatively flat trend pattern. 2020 saw the fastest growth, up X%. As a result, imports peaked at station X and then fell sharply the following year.

Imports of pulley tackle and hoists driven by electric motors are significantly reduced to $X in value terms in 2021. During the period under review, total imports show a slight increase from 2012 to 2021: their value has grown at an average annual rate of +X% over the past nine years. However, the trend pattern shows that some notable fluctuations were recorded throughout the analysis period. The fastest growth rate was in 2013, with an increase of X%. During the period under review, import volumes reached an all-time high of $X in 2017; however, imports failed to regain momentum from 2018 to 2021.

China (Unit X), Japan (Unit X) and Estonia (Unit X) were the major suppliers of electric pulley spreaders and lifts imported to Hong Kong SAR, together accounting for X% of the total imports. These countries are followed by Taiwan (China), Germany, Macau SAR and Gibraltar, with greater combined growth from 2012 to 2021, led by Taiwan (China) (+X% CAGR), Other leaders, however, experienced more modest purchase growth.

The largest pulley spreaders and lifts powered by electric motor suppliers to Hong Kong SAR by value are Taiwan (China) ($X), Japan ($X) and China ($X), together accounting for X% of total imports . In terms of key suppliers, Taiwan (China) recorded a CAGR of +X%, with the highest growth rate in import value during the period under review, while the other leaders experienced more moderate sourcing growth.

Statistics of various crane suppliers in Hong Kong SAR, China
In value terms, the largest pulley tackle and hoists powered by an electric motor suppliers to Hong Kong SAR were Taiwan Chinese), Japan and China, with a combined 52% share of total imports.

In value terms, China remains the key foreign market for pulley tackle and hoists powered by an electric motor exports from Hong Kong SAR, comprising 83% of total exports. The second position in the ranking was taken by Macao SAR, with a 12% share of total exports.

The average export price for pulley tackle and hoists powered by an electric motor stood at $1,645 per unit in 2021, surging by 34% against the previous year.

The average import price for pulley tackle and hoists powered by an electric motor stood at $1,170 per unit in 2021, with an increase of 88% against the previous year.

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Hong Kong SAR, China: Electric Motor Driven Pulley Blocks and Hoists Market Analysis in 2022