Singapore: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in Singapore

The Singaporean iron or steel bridges market dropped markedly to $X in 2022, waning by -41.4% against the previous year. Over the period under review, consumption showed a slight descent. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Iron Or Steel Bridges And Bridge-Sections in Singapore

In value terms, iron or steel bridges production declined slightly to $X in 2022 estimated in export price. Overall, production, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when the production volume increased by 86% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports from Singapore

In 2022, exports of iron or steel bridges and bridge-sections from Singapore amounted to X tons, picking up by 15% compared with the year before. Overall, exports saw a pronounced increase. The pace of growth appeared the most rapid in 2021 when exports increased by 340%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel bridges exports fell dramatically to $X in 2022. In general, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 610% against the previous year. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

Canada (X tons), China (X tons) and Indonesia (X tons) were the main destinations of iron or steel bridges exports from Singapore, with a combined 94% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +145.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for iron or steel bridges exported from Singapore were Canada ($X), China ($X) and Indonesia ($X), with a combined 89% share of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +109.8%, 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 mixed trend patterns.

Export Prices by Country

The average iron or steel bridges export price stood at $X per ton in 2022, which is down by -75.1% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2019 an increase of 155% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then reduced rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Timor-Leste (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports into Singapore

In 2022, approx. X tons of iron or steel bridges and bridge-sections were imported into Singapore; waning by -24.1% on the previous year's figure. Overall, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when imports increased by 155% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, iron or steel bridges imports contracted modestly to $X in 2022. In general, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 124% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel bridges to Singapore, accounting for a 68% share of total imports. Moreover, iron or steel bridges imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-9.5% per year) and Indonesia (-22.4% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel bridges and bridge-sections to Singapore, comprising 80% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by Indonesia, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-8.2% per year) and Indonesia (-29.9% per year).

Import Prices by Country

The average iron or steel bridges import price stood at $X per ton in 2022, growing by 28% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the average import price increased by 105% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :