Singapore: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Singapore

The Singaporean tow-behind air compressor market surged to $X in 2022, increasing by 15% against the previous year. Overall, consumption saw a resilient increase. Tow-behind air compressor consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Tow-Behind Air Compressor Production in Singapore

In value terms, tow-behind air compressor production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 1,710% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Tow-Behind Air Compressor Exports

Exports from Singapore

In 2022, shipments abroad of air compressors mounted on a wheeled chassis for towing increased by 90% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, showed a abrupt decline. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tow-behind air compressor exports surged to $X in 2022. Overall, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2013 with an increase of 153%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X units) was the main destination for tow-behind air compressor exports from Singapore, accounting for a 55% share of total exports. Moreover, tow-behind air compressor exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X units), twofold. The United States (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+24.2% per year) and the United States (+43.3% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for air compressors mounted on a wheeled chassis for towing exports from Singapore, comprising 53% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 24% share of total exports. It was followed by the United States, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-7.7% per year) and the United States (+47.8% per year).

Export Prices by Country

In 2022, the average tow-behind air compressor export price amounted to $X per unit, increasing by 11% against the previous year. In general, the export price saw a prominent expansion. The growth pace was the most rapid in 2014 when the average export price increased by 441%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+614,282.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Singapore

In 2022, imports of air compressors mounted on a wheeled chassis for towing into Singapore soared to X units, jumping by 62% compared with the previous year. Overall, imports enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 63% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, tow-behind air compressor imports skyrocketed to $X in 2022. Over the period under review, imports showed a measured increase. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest tow-behind air compressor supplier to Singapore, accounting for a 62% share of total imports. Moreover, tow-behind air compressor imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), sixfold. The United States (X units) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.9% per year) and the United States (+8.0% per year).

In value terms, the largest tow-behind air compressor suppliers to Singapore were the United States ($X), Japan ($X) and China ($X), with a combined 81% share of total imports. Belgium, Germany, Malaysia, Italy and Thailand lagged somewhat behind, together comprising a further 16%.

In terms of the main suppliers, Thailand, with a CAGR of +32.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tow-behind air compressor import price stood at $X per unit in 2022, picking up by 20% against the previous year. In general, the import price, however, showed a slight setback. The pace of growth was the most pronounced in 2013 an increase of 51%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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