Singapore: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Market Size for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Singapore

The Singaporean market for buckets, shovels, grabs and grips for ships’ derricks and cranes soared to $X in 2022, with an increase of 81% against the previous year. Over the period under review, consumption showed a resilient increase. Ship derrick buckets and shovels consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes in Singapore

In value terms, ship derrick buckets and shovels production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 477% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Singapore

In 2022, exports of buckets, shovels, grabs and grips for ships’ derricks and cranes from Singapore skyrocketed to X units, growing by 174% on the previous year's figure. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 594%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, ship derrick buckets and shovels exports surged to $X in 2022. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 583%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X units), China (X units) and Indonesia (X units) were the main destinations of ship derrick buckets and shovels exports from Singapore, with a combined 61% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +83.1%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and Indonesia ($X) constituted the largest markets for ship derrick buckets and shovels exported from Singapore worldwide, together comprising 58% of total exports.

China, with a CAGR of +86.7%, 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 buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, rising by 44% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Oman ($X per unit) and Malaysia ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Singapore

In 2022, supplies from abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 255% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a prominent expansion. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, ship derrick buckets and shovels imports soared to $X in 2022. In general, imports enjoyed a prominent expansion. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Malaysia (X units) and Italy (X units) were the main suppliers of ship derrick buckets and shovels imports to Singapore, together comprising 46% of total imports. These countries were followed by Indonesia, the Netherlands, Norway, Thailand, South Korea, the United States, Austria, Japan, Germany and Slovenia, which together accounted for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +68.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ship derrick buckets and shovels suppliers to Singapore were China ($X), Malaysia ($X) and Indonesia ($X), together comprising 42% of total imports. The Netherlands, Italy, Thailand, Norway, Japan, South Korea, the United States, Austria, Slovenia and Germany lagged somewhat behind, together comprising a further 42%.

Austria, with a CAGR of +66.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, growing by 12% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Netherlands ($X per unit), while the price for China ($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 (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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