Singapore: Market for In-Hand Motor Grinders, Sanders And Planers 2024

Market Size for In-Hand Motor Grinders, Sanders And Planers in Singapore

The Singaporean market for in-hand motor grinders, sanders and planers dropped markedly to $X in 2021, which is down by -82.6% 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 faced a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of In-Hand Motor Grinders, Sanders And Planers

Exports from Singapore

In 2021, exports of in-hand motor grinders, sanders and planers from Singapore shrank to X units, dropping by -13.2% on the year before. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2019 when exports increased by 1,110% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of in-hand motor grinders, sanders and planers soared to $X in 2021. Over the period under review, exports, however, saw a mild increase. The most prominent rate of growth was recorded in 2015 when exports increased by 804% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for exports of in-hand motor grinders, sanders and planers from Singapore, with a 45% share of total exports. Moreover, exports of in-hand motor grinders, sanders and planers to Germany exceeded the volume sent to the second major destination, Indonesia (X units), fourfold. The third position in this ranking was held by the United States (X units), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +94.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-13.9% per year) and the United States (+102.9% per year).

In value terms, the largest markets for electromechanical tools for working in the hand, with self-contained electric motor exported from Singapore were Germany ($X), the United States ($X) and Taiwan (Chinese) ($X), together accounting for 58% of total exports. These countries were followed by Malaysia, Australia, the Philippines, Hong Kong SAR, Thailand, Indonesia, Hungary and India, which together accounted for a further 28%.

In terms of the main countries of destination, Hungary, with a CAGR of +4,938.5%, recorded the highest growth rate of 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 export price for in-hand motor grinders, sanders and planers stood at $X per unit in 2021, with an increase of 55% against the previous year. Over the period under review, the export price posted strong growth. The most prominent rate of growth was recorded in 2015 an increase of 185% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Australia ($X per unit), while the average price for exports to Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of In-Hand Motor Grinders, Sanders And Planers

Imports into Singapore

In 2021, imports of in-hand motor grinders, sanders and planers into Singapore declined markedly to X units, dropping by -53.2% on 2020. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by 53% against the previous year. Over the period under review, imports of attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of in-hand motor grinders, sanders and planers reduced to $X in 2021. Overall, imports recorded a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Malaysia (X units) and Japan (X units) were the main suppliers of imports of in-hand motor grinders, sanders and planers to Singapore, together accounting for 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +4.4%), while imports for the other leaders experienced a decline.

In value terms, Malaysia ($X), China ($X) and Japan ($X) appeared to be the largest electromechanical tools for working in the hand, with self-contained electric motor suppliers to Singapore, with a combined 82% share of total imports.

Malaysia, with a CAGR of -5.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for in-hand motor grinders, sanders and planers amounted to $X per unit, jumping by 112% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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