Singapore: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Singapore

In 2022, after two years of decline, there was significant growth in the Singaporean cranks and crankshafts market, when its value increased by 161% to $X. Overall, consumption, however, continues to indicate a noticeable downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in Singapore

In value terms, cranks and crankshafts production soared to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt decline. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Singapore

In 2022, the amount of cranks and crankshafts exported from Singapore was estimated at X tons, with an increase of 4.9% on the year before. In general, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 60% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cranks and crankshafts exports stood at $X in 2022. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 58%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of cranks and crankshafts exports from Singapore, with a combined 33% share of total exports. Malaysia, Australia, China, Vietnam, India, Thailand, Belgium, Canada, New Zealand and the Philippines lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +40.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cranks and crankshafts exported from Singapore were Indonesia ($X), the United States ($X) and the United Arab Emirates ($X), together comprising 33% of total exports. Malaysia, Australia, China, Vietnam, India, Thailand, Belgium, Canada, New Zealand and the Philippines lagged somewhat behind, together comprising a further 43%.

In terms of the main countries of destination, Canada, with a CAGR of +41.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, surging by 6.2% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 17% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and the Philippines ($X per ton), while the average price for exports to New Zealand ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+0.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Singapore

In 2022, overseas purchases of cranks and crankshafts were finally on the rise to reach X tons after two years of decline. Over the period under review, imports saw measured growth. The pace of growth was the most pronounced in 2018 with an increase of 60% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports surged to $X in 2022. In general, imports enjoyed a noticeable expansion. The growth pace was the most rapid in 2018 when imports increased by 57% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main suppliers of cranks and crankshafts imports to Singapore, with a combined 53% share of total imports. Poland, France, India, Germany, the UK, Italy, Malaysia, Turkey, Canada and South Korea lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +234.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cranks and crankshafts suppliers to Singapore were the United States ($X), Japan ($X) and China ($X), with a combined 53% share of total imports. Poland, France, India, Germany, the UK, Italy, Malaysia, Turkey, Canada and South Korea lagged somewhat behind, together comprising a further 39%.

Among the main suppliers, Poland, with a CAGR of +236.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cranks and crankshafts import price stood at $X per ton in 2022, with a decrease of -3.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 15%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for the UK ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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