Singapore: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Singapore

The Singaporean flywheels and pulleys market amounted to $X in 2021, growing by 13% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Flywheels And Pulleys Production in Singapore

In value terms, flywheels and pulleys production rose notably to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 34%. Flywheels and pulleys production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Flywheels And Pulleys Exports

Exports from Singapore

After three years of decline, overseas shipments of flywheels and pulleys increased by 19% to X tons in 2021. Overall, total exports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -27.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 39%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, flywheels and pulleys exports rose sharply to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 35%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Thailand (X tons) and Australia (X tons) were the main destinations of flywheels and pulleys exports from Singapore, together accounting for 46% of total exports. These countries were followed by China, Indonesia, the United States, Hong Kong SAR, South Korea, Belgium, Taiwan (Chinese) and Japan, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +50.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flywheels and pulleys exported from Singapore were Malaysia ($X), Thailand ($X) and Australia ($X), with a combined 46% share of total exports. China, Indonesia, the United States, Hong Kong SAR, South Korea, Belgium, Taiwan (Chinese) and Japan lagged somewhat behind, together comprising a further 42%.

Among the main countries of destination, the United States, with a CAGR of +47.9%, 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

In 2021, the average flywheels and pulleys export price amounted to $X per ton, waning by -8.8% against the previous year. Over the period under review, the export price showed a slight reduction. The pace of growth appeared the most rapid in 2018 an increase of 9.3% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (-1.7%), while the prices for the other major destinations experienced a decline.

Flywheels And Pulleys Imports

Imports into Singapore

In 2021, approx. X tons of flywheels and pulleys were imported into Singapore; growing by 13% against the previous year. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 55%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, flywheels and pulleys imports surged to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 49% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of flywheels and pulleys imports to Singapore, with a combined 51% share of total imports. Canada, Japan, Taiwan (Chinese), Slovakia, France, Italy, Turkey, Malaysia, the UK and Norway lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +44.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest flywheels and pulleys suppliers to Singapore were China ($X), the United States ($X) and Germany ($X), together comprising 51% of total imports. These countries were followed by Canada, Japan, Taiwan (Chinese), Slovakia, France, Italy, Turkey, Malaysia, the UK and Norway, which together accounted for a further 35%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +43.7%, saw 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

The average flywheels and pulleys import price stood at $X per ton in 2021, rising by 7.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 15%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Norway ($X per ton), while the price for Slovakia ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :