Singapore: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Singapore

In 2021, the Singaporean machine-tool for working wood market increased by 6.4% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Machine-Tools For Working Wood in Singapore

In value terms, machine-tool for working wood production dropped slightly to $X in 2021 estimated in export price. In general, production, however, showed a slight increase. The most prominent rate of growth was recorded in 2016 with an increase of 114% against the previous year. Machine-tool for working wood production peaked at $X in 2020, and then reduced modestly in the following year.

Exports of Machine-Tools For Working Wood

Exports from Singapore

In 2021, overseas shipments of machine-tools for working wood were finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. Over the period under review, exports, however, saw a deep setback. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, machine-tool for working wood exports totaled $X in 2021. Overall, exports, however, recorded a abrupt curtailment. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and the United States (X tons) were the main destinations of machine-tool for working wood exports from Singapore, together accounting for 46% of total exports. These countries were followed by Mexico, India, China, the UK, France, Spain, Hungary, South Korea, Thailand and Vietnam, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +173.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for working wood exported from Singapore were Malaysia ($X), Indonesia ($X) and India ($X), together accounting for 47% of total exports. These countries were followed by the United States, Mexico, China, the UK, Spain, France, Thailand, Vietnam, Hungary and South Korea, which together accounted for a further 40%.

France, with a CAGR of +146.7%, 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

In 2021, the average machine-tool for working wood export price amounted to $X per ton, with a decrease of -23.7% against the previous year. Overall, the export price recorded a mild descent. The most prominent rate of growth was recorded in 2013 when the average export price increased by 11%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then contracted markedly in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Vietnam ($X per ton), while the average price for exports to Hungary ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Singapore

In 2021, overseas purchases of machine-tools for working wood were finally on the rise to reach X tons after three years of decline. Overall, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 141% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, machine-tool for working wood imports soared to $X in 2021. Over the period under review, imports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 137%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of machine-tool for working wood imports to Singapore, together accounting for 71% of total imports. These countries were followed by Germany, the United States, Poland, Italy and Malaysia, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +15.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest machine-tool for working wood suppliers to Singapore were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 66% of total imports. These countries were followed by Germany, Poland, the United States, Italy and Malaysia, which together accounted for a further 24%.

Poland, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average machine-tool for working wood import price amounted to $X per ton, falling by -15.9% against the previous year. Over the period under review, the import price recorded a slight decline. The growth pace was the most rapid in 2018 when the average import price increased by 33% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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