Singapore: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Singapore

In 2022, the Singaporean market for lead-acid accumulators (excluding starter batteries) was finally on the rise to reach $X after three years of decline. Overall, consumption, however, continues to indicate a perceptible decrease. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Lead-Acid Accumulators (Excluding Starter Batteries) in Singapore

In value terms, lead-acid accumulators (excluding starter batteries) production skyrocketed to $X in 2022 estimated in export price. In general, production saw a strong increase. Lead-acid accumulators (excluding starter batteries) production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Singapore

In 2022, overseas shipments of lead-acid accumulators (excluding starter batteries) increased by 5.2% to X units, rising for the third consecutive year after two years of decline. In general, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 62%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, lead-acid accumulators (excluding starter batteries) exports rose to $X in 2022. Over the period under review, exports, however, recorded a slight setback. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units), India (X units) and Malaysia (X units) were the main destinations of lead-acid accumulators (excluding starter batteries) exports from Singapore, with a combined 78% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +26.2%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and India ($X) were the largest markets for lead-acid accumulators (excluding starter batteries) exported from Singapore worldwide, with a combined 37% share of total exports. The Philippines, Malaysia, Hong Kong SAR and China lagged somewhat behind, together comprising a further 24%.

China, with a CAGR of +10.5%, recorded 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 more modest paces of growth.

Export Prices by Country

The average export price for lead-acid accumulators (excluding starter batteries) stood at $X per unit in 2022, shrinking by -1.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when the average export price increased by 31% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Malaysia ($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 the Philippines (+4.7%), while the prices for the other major destinations experienced a decline.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Singapore

In 2022, imports of lead-acid accumulators (excluding starter batteries) into Singapore contracted to X units, dropping by -6% on 2021 figures. In general, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2014 when imports increased by 70%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) imports expanded remarkably to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 29%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Singapore, with a 44% share of total imports. Moreover, lead-acid accumulators (excluding starter batteries) imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), sevenfold. Vietnam (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+34.5% per year) and Vietnam (+15.7% per year).

In value terms, China ($X) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Singapore, comprising 28% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+18.3% per year) and the United States (-2.6% per year).

Import Prices by Country

In 2022, the average import price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, rising by 14% against the previous year. In general, the import price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2019 an increase of 50% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Indonesia ($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) (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :