Singapore: Brakes And Servo-Brakes Market 2025

Brakes And Servo-Brakes Market Size in Singapore

In 2022, the Singaporean brakes and servo-brakes market decreased by -14.1% to $X, falling for the second year in a row after four years of growth. Overall, consumption continues to indicate a mild curtailment. Brakes and servo-brakes consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Brakes And Servo-Brakes Production in Singapore

In value terms, brakes and servo-brakes production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.2% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 37% against the previous year. Brakes and servo-brakes production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Brakes And Servo-Brakes Exports

Exports from Singapore

In 2022, exports of brakes and servo-brakes from Singapore declined rapidly to X tons, with a decrease of -19.1% compared with 2021 figures. In general, exports, however, continue to indicate perceptible growth. The growth pace was the most rapid in 2021 with an increase of 216% against the previous year. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, brakes and servo-brakes exports shrank notably to $X in 2022. Over the period under review, exports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2021 when exports increased by 175%. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Australia (X tons), Indonesia (X tons) and India (X tons) were the main destinations of brakes and servo-brakes exports from Singapore, together comprising 41% of total exports. Taiwan (Chinese), Malaysia, Hong Kong SAR, Russia, the United States, Peru, China, Vietnam, Belgium and the United Arab Emirates lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +85.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for brakes and servo-brakes exported from Singapore were Australia ($X), Indonesia ($X) and India ($X), together comprising 39% of total exports. Taiwan (Chinese), Malaysia, Hong Kong SAR, Russia, the United States, Vietnam, China, Peru, the United Arab Emirates and Belgium lagged somewhat behind, together comprising a further 47%.

In terms of the main countries of destination, Peru, with a CAGR of +79.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average brakes and servo-brakes export price amounted to $X per ton, rising by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2013 an increase of 33% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Brakes And Servo-Brakes Imports

Imports into Singapore

In 2022, after three years of growth, there was significant decline in overseas purchases of brakes and servo-brakes, when their volume decreased by -35.3% to X tons. Over the period under review, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2020 with an increase of 44% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, brakes and servo-brakes imports contracted markedly to $X in 2022. In general, imports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2020 with an increase of 53% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of brakes and servo-brakes imports to Singapore, with a combined 63% share of total imports. Taiwan (Chinese), India, Italy, Indonesia, Malaysia, Japan, South Korea, Thailand, the UK and Spain lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest brakes and servo-brakes suppliers to Singapore were China ($X), the United States ($X) and Germany ($X), with a combined 58% share of total imports. India, Taiwan (Chinese), Japan, Italy, Malaysia, the UK, South Korea, Indonesia, Thailand and Spain lagged somewhat behind, together comprising a further 33%.

India, with a CAGR of +27.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average brakes and servo-brakes import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 17%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 the UK ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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