Singapore: Machine-Tool For Drilling Market 2025

Machine-Tool For Drilling Market Size in Singapore

In 2022, the Singaporean machine-tool for drilling market decreased by -99.9% to $X, falling for the second consecutive year after three years of growth. Overall, consumption recorded a precipitous decrease. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Machine-Tool For Drilling Production in Singapore

In value terms, machine-tool for drilling production expanded to $X in 2022 estimated in export price. In general, production recorded a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports from Singapore

In 2022, the amount of machine-tools for drilling, boring or milling metal exported from Singapore contracted markedly to X units, waning by -48.4% compared with the previous year. In general, exports, however, saw pronounced growth. The most prominent rate of growth was recorded in 2021 when exports increased by 197% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine-tool for drilling exports skyrocketed to $X in 2022. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 63%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for machine-tool for drilling exports from Singapore, with a 59% share of total exports. Moreover, machine-tool for drilling exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+11.3% per year) and the Netherlands (+83.9% per year).

In value terms, Indonesia ($X), Malaysia ($X) and Cambodia ($X) appeared to be the largest markets for machine-tool for drilling exported from Singapore worldwide, together comprising 57% of total exports. Thailand, India, the Philippines, the Netherlands, Oman and Italy lagged somewhat behind, together accounting for a further 13%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +37.0%, 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 machine-tool for drilling export price stood at $X per unit in 2022, surging by 124% against the previous year. Overall, the export price, however, showed a drastic downturn. The growth pace was the most rapid in 2020 an increase of 574%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to Oman ($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 Italy (+23.9%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Singapore

In 2022, overseas purchases of machine-tools for drilling, boring or milling metal decreased by -98% to X units, falling for the second year in a row after six years of growth. Over the period under review, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 157%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, machine-tool for drilling imports shrank to $X in 2022. In general, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by 54%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest machine-tool for drilling supplier to Singapore, with a 43% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fivefold. The third position in this ranking was taken by the United States (X units), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-9.5% per year) and the United States (-16.8% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Singapore, comprising 46% of total imports. The second position in the ranking was taken by the UK ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+10.1% per year) and Taiwan (Chinese) (-2.3% per year).

Import Prices by Country

The average machine-tool for drilling import price stood at $X per unit in 2022, rising by 4,278% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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