Singapore: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2024

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in Singapore

In 2022, the Singaporean market for machine-tools for working stone, ceramics, and concrete increased by 39% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Machine tools for working stone consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Machine-Tools For Working Stone, Ceramics, And Concrete in Singapore

In value terms, machine tools for working stone production fell modestly to $X in 2022 estimated in export price. In general, production faced a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 9%. Machine tools for working stone production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports from Singapore

In 2022, approx. X units of machine-tools for working stone, ceramics, and concrete were exported from Singapore; rising by 319% compared with the year before. Overall, exports showed resilient growth. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, machine tools for working stone exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 119% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X units), South Korea (X units) and China (X units) were the main destinations of machine tools for working stone exports from Singapore, with a combined 64% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +113.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), South Korea ($X) and China ($X) constituted the largest markets for machine tools for working stone exported from Singapore worldwide, together comprising 59% of total exports. Japan, Indonesia, the Philippines, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further 33%.

In terms of the main countries of destination, Japan, with a CAGR of +147.1%, 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 machine-tools for working stone, ceramics, and concrete stood at $X per unit in 2022, declining by -68.1% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 24%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per unit) and Japan ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports into Singapore

In 2022, approx. X units of machine-tools for working stone, ceramics, and concrete were imported into Singapore; growing by 182% against 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine tools for working stone imports surged to $X in 2022. Overall, imports enjoyed a slight increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X units), Austria (X units) and China (X units) were the main suppliers of machine tools for working stone imports to Singapore, with a combined 79% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +59.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Austria ($X) and China ($X) constituted the largest machine tools for working stone suppliers to Singapore, together comprising 79% of total imports.

Among the main suppliers, Austria, with a CAGR of +61.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for machine-tools for working stone, ceramics, and concrete amounted to $X per unit, with an increase of 8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and China ($X per unit), while the price for Italy ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :