Singapore: Electric Soldering Iron Market 2025

Electric Soldering Iron Market Size in Singapore

The Singaporean electric soldering iron market reduced sharply to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a prominent increase. Electric soldering iron consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Electric Soldering Iron Exports

Exports from Singapore

In 2022, shipments abroad of electric soldering irons and guns decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric soldering iron exports stood at $X in 2022. In general, exports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Egypt (X units) were the main destinations of electric soldering iron exports from Singapore, with a combined X% share of total exports. Japan, the Philippines, Bangladesh, South Korea, Sri Lanka, Germany, the United States, China and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric soldering iron exported from Singapore were Malaysia ($X), Japan ($X) and the Philippines ($X), together comprising X% of total exports. The United States, South Korea, Indonesia, Egypt, Germany, China, Sri Lanka, Bangladesh and Thailand lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, South Korea, with a CAGR of X%, 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 electric soldering iron export price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the export price showed a modest increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Bangladesh ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Soldering Iron Imports

Imports into Singapore

Electric soldering iron imports into Singapore shrank markedly to X units in 2022, dropping by X% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, electric soldering iron imports dropped to $X in 2022. Overall, imports, however, enjoyed pronounced growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest electric soldering iron supplier to Singapore, with a X% share of total imports. Moreover, electric soldering iron imports from Japan exceeded the figures recorded by the second-largest supplier, Malaysia (X units), threefold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and China (X% per year).

In value terms, the largest electric soldering iron suppliers to Singapore were Malaysia ($X), Japan ($X) and China ($X), together accounting for X% of total imports.

Among the main suppliers, Malaysia, with a CAGR of X%, 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 electric soldering iron import price amounted to $X per unit, with an increase of X% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric soldering iron import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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