Singapore: Market for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam 2025

Market Size for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Singapore

The Singaporean market for central heating boilers, for producing hot water or low pressure steam rose significantly to $X in 2022, surging by 14% against the previous year. In general, consumption continues to indicate a resilient expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Singapore

In value terms, production of central heating boilers, for producing hot water or low pressure steam expanded remarkably to $X in 2022 estimated in export price. Overall, production showed a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 74% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Exports from Singapore

In 2022, overseas shipments of central heating boilers, for producing hot water or low pressure steam decreased by -10.8% to X units, falling for the second year in a row after two years of growth. Overall, exports faced a deep slump. The pace of growth appeared the most rapid in 2020 when exports increased by 2,513% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam declined dramatically to $X in 2022. Over the period under review, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 2,792%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Indonesia (X units), Malaysia (X units) and Sri Lanka (X units) were the main destinations of exports of central heating boilers, for producing hot water or low pressure steam from Singapore.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +46.5%), while shipments for the other leaders experienced a decline.

In value terms, Indonesia ($X), Malaysia ($X) and Sri Lanka ($X) constituted the largest markets for central heating boilers, for producing hot water or low pressure steam exported from Singapore worldwide.

Sri Lanka, with a CAGR of +50.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, shrinking by -31.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. The export price peaked at $X per unit in 2021, and then shrank significantly in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Indonesia ($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 Myanmar (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Imports into Singapore

Imports of central heating boilers, for producing hot water or low pressure steam into Singapore skyrocketed to X units in 2022, rising by 96% compared with the previous year. Over the period under review, imports, however, faced a deep setback. The pace of growth appeared the most rapid in 2020 when imports increased by 2,012%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam surged to $X in 2022. Overall, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 2,148% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of central heating boilers, for producing hot water or low pressure steam to Singapore, with a 75% share of total imports. Moreover, imports of central heating boilers, for producing hot water or low pressure steam from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was taken by Australia (X units), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+39.0% per year) and Australia (+9.6% per year).

In value terms, China ($X) constituted the largest supplier of central heating boilers, for producing hot water or low pressure steam to Singapore, comprising 76% of total imports. The second position in the ranking was taken by Italy ($X), with a 20% share of total imports. It was followed by Australia, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+44.6% per year) and Australia (+14.1% per year).

Import Prices by Country

The average import price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, rising by 4.2% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for central heating boilers, for producing hot water or low pressure steam increased by +58.5% against 2012 indices. The pace of growth was the most pronounced in 2018 an increase of 22% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per unit) and Malaysia ($X per unit), while the price for Australia ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :