Singapore: Market for Diesel-Electric and Other Locomotives 2024

Market Size for Diesel-Electric and Other Locomotives in Singapore

After three years of growth, the Singaporean diesel-electric and other locomotive market decreased by -2.8% to $X in 2022. Over the period under review, consumption saw a prominent increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Diesel-Electric and Other Locomotives in Singapore

In value terms, diesel-electric and other locomotive production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 10%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Exports of Diesel-Electric and Other Locomotives

Exports from Singapore

In 2022, overseas shipments of diesel-electric and other locomotives decreased by -95.3% to X units, falling for the second year in a row after three years of growth. In general, exports faced a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 2,900%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, diesel-electric and other locomotive exports dropped markedly to $X in 2022. Overall, exports recorded a significant decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 1,966%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Germany (X units) were the main destinations of diesel-electric and other locomotive exports from Singapore.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of -6.7%), while the other leaders experienced a decline.

In value terms, Germany ($X) emerged as the key foreign market for diesel-electric and other locomotives exports from Singapore, comprising 29% of total exports. The second position in the ranking was held by Malaysia ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany stood at -32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-29.1% per year) and Indonesia (-43.9% per year).

Export Prices by Country

In 2022, the average diesel-electric and other locomotive export price amounted to $X per unit, with an increase of 213% against the previous year. In general, the export price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 1,671% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the 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 ($X per unit), while the average price for exports to Indonesia ($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 Germany (-20.8%), while the prices for the other major destinations experienced a decline.

Imports of Diesel-Electric and Other Locomotives

Imports into Singapore

In 2022, imports of diesel-electric and other locomotives into Singapore surged to X units, growing by 47% compared with 2021 figures. Overall, imports, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by 121% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, diesel-electric and other locomotive imports expanded rapidly to $X in 2022. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 562% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X units) constituted the largest diesel-electric and other locomotive supplier to Singapore, accounting for a 55% share of total imports. Moreover, diesel-electric and other locomotive imports from Belgium exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. The third position in this ranking was held by China (X units), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and China (-17.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of diesel-electric and other locomotives to Singapore, comprising 66% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Italy, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +75.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+22.3% per year) and Italy (+2.3% per year).

Import Prices by Country

In 2022, the average diesel-electric and other locomotive import price amounted to $X per unit, reducing by -22.1% against the previous year. Over the period under review, the import price, however, posted resilient growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 261% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then contracted significantly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+39.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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