Singapore: Market for Industrial, Laboratory or Bakery Ovens 2025

Market Size for Industrial, Laboratory or Bakery Ovens in Singapore

The Singaporean market for industrial, laboratory or bakery ovens plummeted to $X in 2022, declining by -37.9% against the previous year. Overall, consumption, however, posted a slight expansion. Industrial, laboratory or bakery oven consumption peaked at $X in 2021, and then reduced sharply in the following year.

Production of Industrial, Laboratory or Bakery Ovens in Singapore

In value terms, industrial, laboratory or bakery oven production shrank notably to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by 69%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Singapore

In 2022, shipments abroad of industrial, laboratory or bakery ovens increased by 11% to X units, rising for the second year in a row after two years of decline. Overall, exports saw a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 77% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, industrial, laboratory or bakery oven exports dropped to $X in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 58%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X units) was the main destination for industrial, laboratory or bakery oven exports from Singapore, accounting for a 64% share of total exports. Moreover, industrial, laboratory or bakery oven exports to Thailand exceeded the volume sent to the second major destination, Indonesia (X units), sixfold. Norway (X units) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +61.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+14.6% per year) and Norway (+75.2% per year).

In value terms, Indonesia ($X) remains the key foreign market for industrial, laboratory or bakery ovens exports from Singapore, comprising 39% of total exports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total exports. It was followed by China, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-3.0% per year) and China (+20.3% per year).

Export Prices by Country

The average export price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, declining by -15.2% against the previous year. In general, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2019 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Thailand ($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 China (+11.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Singapore

After three years of growth, purchases abroad of industrial, laboratory or bakery ovens decreased by -23.2% to X units in 2022. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 63% against the previous year. As a result, imports attained the peak of X units, and then reduced markedly in the following year.

In value terms, industrial, laboratory or bakery oven imports declined to $X in 2022. In general, imports, however, recorded a moderate increase. The growth pace was the most rapid in 2016 when imports increased by 88% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

China (X units), the United States (X units) and Poland (X units) were the main suppliers of industrial, laboratory or bakery oven imports to Singapore, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +77.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial, laboratory or bakery oven suppliers to Singapore were the United States ($X), China ($X) and the Netherlands ($X), with a combined 52% share of total imports. Poland, Germany, Italy and Malaysia lagged somewhat behind, together accounting for a further 22%.

In terms of the main suppliers, Poland, with a CAGR of +87.8%, recorded the highest growth rate of 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

In 2022, the average import price for industrial, laboratory or bakery ovens amounted to $X per unit, jumping by 16% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. The pace of growth was the most pronounced in 2018 an increase of 49%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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