Singapore: Metal Broaching Machine Market 2024

Metal Broaching Machine Market Size in Singapore

The Singaporean metal broaching machine market rose sharply to $X in 2021, picking up by 9.9% against the previous year. Over the period under review, consumption continues to indicate a noticeable reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Metal Broaching Machine Production in Singapore

In value terms, metal broaching machine production surged to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Metal Broaching Machine Exports

Exports from Singapore

In 2021, overseas shipments of broaching machines for working metal were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2018 when exports increased by 3,620% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, metal broaching machine exports rose slightly to $X in 2021. Overall, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by 1,579% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for metal broaching machine exports from Singapore, accounting for a 71% share of total exports. Moreover, metal broaching machine exports to Indonesia exceeded the volume sent to the second major destination, the United States (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.0% per year) and the United Arab Emirates (0.0% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for broaching machines for working metal exports from Singapore, comprising 78% of total exports. The second position in the ranking was taken by the United States ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Indonesia amounted to +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.5% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

The average metal broaching machine export price stood at $X per unit in 2021, dropping by -56.1% against the previous year. Overall, the export price recorded a abrupt descent. The pace of growth was the most pronounced in 2014 when the average export price increased by 192% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, 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 Indonesia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+45.4%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Broaching Machine Imports

Imports into Singapore

In 2021, the amount of broaching machines for working metal imported into Singapore expanded modestly to X units, growing by 3.7% against 2020 figures. Over the period under review, imports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 326%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal broaching machine imports declined to $X in 2021. Overall, imports, however, faced a sharp setback. The most prominent rate of growth was recorded in 2013 when imports increased by 93%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the UK (X units) constituted the largest metal broaching machine supplier to Singapore, accounting for a 70% share of total imports. Moreover, metal broaching machine imports from the UK exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to -20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+37.9% per year) and the United States (+8.0% per year).

In value terms, the UK ($X) constituted the largest supplier of broaching machines for working metal to Singapore, comprising 81% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK totaled -20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.6% per year) and Taiwan (Chinese) (+3.8% per year).

Import Prices by Country

The average metal broaching machine import price stood at $X per unit in 2021, falling by -11.2% against the previous year. Over the period under review, the import price recorded a noticeable descent. The pace of growth appeared the most rapid in 2013 when the average import price increased by 197% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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