Singapore: Off-Highway Dumper Market 2024

Off-Highway Dumper Market Size in Singapore

In 2021, the Singaporean off-highway dumper market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. Off-highway dumper consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Off-Highway Dumper Production in Singapore

In value terms, off-highway dumper production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced decline. Off-highway dumper production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Off-Highway Dumper Exports

Exports from Singapore

Off-highway dumper exports from Singapore skyrocketed to X units in 2021, picking up by 142% against the previous year. In general, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 241% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, off-highway dumper exports soared to $X in 2021. Over the period under review, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 245% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for off-highway dumper exports from Singapore, accounting for a 47% share of total exports. Moreover, off-highway dumper exports to Indonesia exceeded the volume sent to the second major destination, Australia (X units), threefold. The third position in this ranking was held by Vietnam (X units), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-19.0% per year) and Vietnam (+100.4% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for dumpers for off-highway use exports from Singapore, comprising 49% of total exports. The second position in the ranking was taken by Australia ($X), with an 18% share of total exports. It was followed by Vietnam, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia stood at -15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-17.2% per year) and Vietnam (+102.6% per year).

Export Prices by Country

In 2021, the average off-highway dumper export price amounted to $X per unit, increasing by 8.6% against the previous year. In general, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, off-highway dumper export price decreased by -19.9% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the average export price increased by 33%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Oman ($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 Myanmar (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Off-Highway Dumper Imports

Imports into Singapore

In 2021, after two years of decline, there was significant growth in overseas purchases of dumpers for off-highway use, when their volume increased by 138% to X units. Overall, imports, however, saw a sharp downturn. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, off-highway dumper imports soared to $X in 2021. Over the period under review, imports, however, saw a deep setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X units) constituted the largest off-highway dumper supplier to Singapore, with a 42% share of total imports. Moreover, off-highway dumper imports from Sweden exceeded the figures recorded by the second-largest supplier, Belgium (X units), twofold. Norway (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled -19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+33.8% per year) and Norway (+8.8% per year).

In value terms, Sweden ($X) constituted the largest supplier of dumpers for off-highway use to Singapore, comprising 42% of total imports. The second position in the ranking was taken by Belgium ($X), with a 20% share of total imports. It was followed by Norway, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from Sweden amounted to -16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+47.5% per year) and Norway (+8.9% per year).

Import Prices by Country

In 2021, the average off-highway dumper import price amounted to $X per unit, surging by 30% against the previous year. In general, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 an increase of 79%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per unit) and China ($X per unit), while the price for Australia ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+33.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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