Singapore: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Singapore

The Singaporean non-electric motor handtools market shrank sharply to $X in 2022, reducing by -77.4% against the previous year. Over the period under review, consumption, however, showed a pronounced increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Non-Electric Motor Handtools Production in Singapore

In value terms, non-electric motor handtools production reduced sharply to $X in 2022 estimated in export price. Overall, production, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when the production volume increased by 2,939,243,100%. Non-electric motor handtools production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Non-Electric Motor Handtools Exports

Exports from Singapore

In 2022, non-electric motor handtools exports from Singapore reduced remarkably to X units, waning by -26.9% compared with 2021. Over the period under review, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 332% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-electric motor handtools exports declined notably to $X in 2022. Overall, exports showed a pronounced decrease. The pace of growth appeared the most rapid in 2013 with an increase of 134% against the previous year. 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

Vietnam (X units), Indonesia (X units) and Malaysia (X units) were the main destinations of non-electric motor handtools exports from Singapore, with a combined 86% share of total exports. The Philippines, Papua New Guinea, Thailand and Brunei Darussalam lagged somewhat behind, together accounting for a further 7.3%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Papua New Guinea (with a CAGR of +84.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) constituted the largest markets for non-electric motor handtools exported from Singapore worldwide, with a combined 57% share of total exports. Vietnam, the Philippines, Papua New Guinea and Brunei Darussalam lagged somewhat behind, together accounting for a further 13%.

Papua New Guinea, with a CAGR of +54.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average non-electric motor handtools export price amounted to $X per unit, with a decrease of -7.3% against the previous year. Over the period under review, the export price saw a abrupt decline. The growth pace was the most rapid in 2014 when the average export price increased by 96% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average 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 Thailand ($X per unit), while the average price for exports to Vietnam ($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 (+0.9%), while the prices for the other major destinations experienced a decline.

Non-Electric Motor Handtools Imports

Imports into Singapore

In 2022, overseas purchases of handtools, hydraulic or with a self-contained non-electric motor decreased by -5.1% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2013 with an increase of 73%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric motor handtools imports reduced slightly to $X in 2022. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2013 when imports increased by 65%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric motor handtools to Singapore, accounting for a 67% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), sixfold. The third position in this ranking was held by Japan (X units), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.7% per year) and Japan (-9.8% per year).

In value terms, the United States ($X), China ($X) and Japan ($X) appeared to be the largest non-electric motor handtools suppliers to Singapore, with a combined 47% share of total imports.

Among the main suppliers, the United States, with a CAGR of +9.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average non-electric motor handtools import price stood at $X per unit 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 appeared the most rapid in 2017 an increase of 92% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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