Singapore: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Singapore

The Singaporean market for turbo, rotary and reciporating displacement compressors dropped dramatically to $X in 2022, shrinking by -16.3% against the previous year. Overall, consumption showed a noticeable decrease. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Singapore

In value terms, production of turbo, rotary and reciporating displacement compressors fell to $X in 2022 estimated in export price. In general, production, however, recorded tangible growth. The pace of growth was the most pronounced in 2019 with an increase of 134% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth failed to regain momentum.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Singapore

In 2022, overseas shipments of turbo, rotary and reciporating displacement compressors decreased by -12.6% to X units, falling for the third year in a row after two years of growth. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 140%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors expanded rapidly to $X in 2022. In general, exports, however, saw a mild increase. The most prominent rate of growth was recorded in 2018 with an increase of 53% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X units), Indonesia (X units) and the Philippines (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Singapore, with a combined 42% share of total exports. Japan, Thailand, the United States, Germany, China, Taiwan (Chinese), Brazil, Hong Kong SAR, the United Arab Emirates and Bangladesh lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +39.8%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the United States ($X) and Malaysia ($X) appeared to be the largest markets for turbo, rotary and reciporating displacement compressor exported from Singapore worldwide, together accounting for 41% of total exports. Japan, China, Thailand, the United Arab Emirates, Germany, the Philippines, Taiwan (Chinese), Hong Kong SAR, Brazil and Bangladesh lagged somewhat behind, together comprising a further 39%.

Japan, with a CAGR of +32.1%, recorded the highest rates of growth with regard to the value of exports, among 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

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, increasing by 29% against the previous year. In general, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 an increase of 43%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the Philippines ($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 China (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Singapore

In 2022, supplies from abroad of turbo, rotary and reciporating displacement compressors decreased by -19.8% to X units, falling for the third year in a row after three years of growth. Overall, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 191%. Over the period under review, imports of hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of turbo, rotary and reciporating displacement compressors contracted rapidly to $X in 2022. In general, imports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2015 when imports increased by 43%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Poland (X units) were the main suppliers of imports of turbo, rotary and reciporating displacement compressors to Singapore, with a combined 61% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +80.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of turbo, rotary and reciporating displacement compressors to Singapore, comprising 27% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Indonesia, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.9% per year) and Indonesia (+20.2% per year).

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, almost unchanged from the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 104%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Indonesia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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