Singapore: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in Singapore

The Singaporean trailer and semi-trailer market reduced slightly to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption saw a resilient increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Trailer And Semi-Trailer Production in Singapore

In value terms, trailer and semi-trailer production fell to $X in 2022 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 +5.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 118%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Trailer And Semi-Trailer Exports

Exports from Singapore

In 2022, the amount of cargo trailers and semi-trailers exported from Singapore declined notably to X units, with a decrease of -23.2% compared with the previous year's figure. Over the period under review, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of 63% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, trailer and semi-trailer exports reached $X in 2022. In general, exports saw a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by 39% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X units), the Philippines (X units) and the United Arab Emirates (X units) were the main destinations of trailer and semi-trailer exports from Singapore, together comprising 67% of total exports. Indonesia, India, Germany, Hong Kong SAR, Japan, Myanmar, China and Thailand lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +25.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for cargo trailers and semi-trailers exports from Singapore, comprising 27% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-16.2% per year) and Germany (+45.6% per year).

Export Prices by Country

The average trailer and semi-trailer export price stood at $X per unit in 2022, growing by 36% against the previous year. Overall, the export price saw a noticeable expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 182% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Thailand ($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 (+41.9%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into Singapore

Trailer and semi-trailer imports into Singapore surged to X units in 2022, with an increase of 32% compared with the previous year. Overall, imports, however, recorded a slight downturn. The growth pace was the most rapid in 2016 when imports increased by 155%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, trailer and semi-trailer imports surged to $X in 2022. Over the period under review, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 138% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest trailer and semi-trailer supplier to Singapore, with a 44% share of total imports. Moreover, trailer and semi-trailer imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by France (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.5% per year) and France (+17.8% per year).

In value terms, France ($X) constituted the largest supplier of cargo trailers and semi-trailers to Singapore, comprising 39% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by China, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +41.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.2% per year) and China (+9.2% per year).

Import Prices by Country

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, growing by 65% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 144%. The import price peaked at $X per unit in 2015; however, from 2016 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 Italy ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+47.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform