Singapore: Civil Reaction Engine Market 2024

Civil Reaction Engine Market Size in Singapore

For the fourth year in a row, the Singaporean civil reaction engine market recorded decline in sales value, which decreased by -41.5% to $X in 2021. Overall, consumption, however, faced a dramatic slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Civil Reaction Engine Production in Singapore

In value terms, civil reaction engine production totaled less than $X in 2021 estimated in export price. Overall, production recorded significant growth. The pace of growth was the most pronounced in 2017 with a decrease of 99.9% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Civil Reaction Engine Exports

Exports from Singapore

In 2021, approx. X units of civil reaction engines were exported from Singapore; with an increase of 13% on 2020. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 364%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, civil reaction engine exports fell notably to $X in 2021. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 272% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for civil reaction engine exports from Singapore, accounting for a 50% share of total exports. Moreover, civil reaction engine exports to Indonesia exceeded the volume sent to the second major destination, France (X units), twofold. Saudi Arabia (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to +74.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+108.9% per year) and Saudi Arabia (0.0% per year).

In value terms, Indonesia ($X), France ($X) and Malaysia ($X) appeared to be the largest markets for civil reaction engine exported from Singapore worldwide, together comprising 89% of total exports. These countries were followed by the United States and Saudi Arabia, which together accounted for a further 7.9%.

The United States, with a CAGR of +57.0%, 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 more modest paces of growth.

Export Prices by Country

The average civil reaction engine export price stood at $X per unit in 2021, shrinking by -41.9% against the previous year. In general, the export price faced a sharp slump. The most prominent rate of growth was recorded in 2017 an increase of 21%. The export price peaked at $X per unit in 2012; however, from 2013 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 the United States ($X per unit), while the average price for exports to Saudi Arabia ($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 United States (-9.4%), while the prices for the other major destinations experienced a decline.

Civil Reaction Engine Imports

Imports into Singapore

In 2021, supplies from abroad of civil reaction engines was 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, imports posted a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 927%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, civil reaction engine imports surged to $X in 2021. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,081% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X units) constituted the largest civil reaction engine supplier to Singapore, accounting for a 72% share of total imports. Moreover, civil reaction engine imports from South Korea exceeded the figures recorded by the second-largest supplier, Switzerland (X units), sixfold. The third position in this ranking was held by Poland (X units), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +99.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+71.9% per year) and Poland (+156.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of civil reaction engines to Singapore, comprising 81% of total imports. The second position in the ranking was held by Switzerland ($X), with an 8.9% share of total imports. It was followed by Poland, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value from South Korea amounted to +118.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+43.3% per year) and Poland (+89.9% per year).

Import Prices by Country

In 2021, the average civil reaction engine import price amounted to $X per unit, jumping by 20% against the previous year. Overall, the import price, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2014 when the average import price increased by 103% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, 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 ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1,046.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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