Singapore: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Singapore

In 2022, the Singaporean gearboxes and speed changers market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a drastic downturn. Gearboxes and speed changers consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Gearboxes and Speed Changers in Singapore

In value terms, gearboxes and speed changers production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Gearboxes and speed changers production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Singapore

Gearboxes and speed changers exports from Singapore fell to X tons in 2022, waning by X% compared with the previous year. In general, exports saw a slight decrease. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports contracted to $X in 2022. Over the period under review, exports saw a mild downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and the United States (X tons) were the main destinations of gearboxes and speed changers exports from Singapore, with a combined X% share of total exports. China, the Philippines, India, Hong Kong SAR, Taiwan (Chinese), Australia, Poland, the United Arab Emirates, Thailand and Italy lagged somewhat behind, together comprising a further X%.

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

In value terms, Malaysia ($X), Indonesia ($X) and the United States ($X) constituted the largest markets for gearboxes and speed changers exported from Singapore worldwide, with a combined X% share of total exports. China, the Philippines, India, Hong Kong SAR, Taiwan (Chinese), Australia, Poland, the United Arab Emirates, Thailand and Italy lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Italy, with a CAGR of X%, recorded 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 gearboxes and speed changers export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and India ($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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced a decline.

Imports of Gearboxes and Speed Changers

Imports into Singapore

In 2022, imports of gearboxes and speed changers into Singapore expanded remarkably to X tons, increasing by X% compared with the previous year's figure. Overall, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers imports stood at $X in 2022. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of gearboxes and speed changers to Singapore, accounting for a X% share of total imports. Moreover, gearboxes and speed changers imports from the United States exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of gearboxes and speed changers to Singapore, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Germany (X% per year).

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Philippines ($X per ton) and India ($X per ton), while the price for South Korea ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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