Singapore: Electroplating Machine Market 2024

Electroplating Machine Market Size in Singapore

In 2021, the Singaporean electroplating machine market decreased by -20.1% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption recorded a perceptible descent. Electroplating machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Electroplating Machine Production in Singapore

In value terms, electroplating machine production reduced to $X in 2021 estimated in export price. Overall, production, however, showed a mild downturn. The pace of growth was the most pronounced in 2016 with an increase of 32%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Electroplating Machine Exports

Exports from Singapore

In 2021, shipments abroad of machines for electroplating, electrolysis or electrophoresis increased by 52% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a strong expansion. The growth pace was the most rapid in 2015 with an increase of 175%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, electroplating machine exports skyrocketed to $X in 2021. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 290%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for electroplating machine exports from Singapore, accounting for a 59% share of total exports. Moreover, electroplating machine exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), sixfold. The third position in this ranking was taken by India (X units), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia stood at +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+6.6% per year) and India (+10.9% per year).

In value terms, Indonesia ($X), Malaysia ($X) and the UK ($X) constituted the largest markets for electroplating machine exported from Singapore worldwide, with a combined 55% share of total exports. These countries were followed by the United States, China, India and Hong Kong SAR, which together accounted for a further 11%.

Hong Kong SAR, with a CAGR of +48.4%, saw the highest growth rate of 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 electroplating machine export price stood at $X per unit in 2021, surging by 23% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2015 an increase of 42%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Malaysia ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electroplating Machine Imports

Imports into Singapore

In 2021, supplies from abroad of machines for electroplating, electrolysis or electrophoresis was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2016 when imports increased by 95%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electroplating machine imports soared to $X in 2021. In general, imports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 125% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electroplating machine supplier to Singapore, accounting for a 68% share of total imports. Moreover, electroplating machine imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), threefold. The third position in this ranking was taken by Japan (X units), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+13.9% per year) and Japan (-32.4% per year).

In value terms, China ($X) constituted the largest supplier of electroplating machine to Singapore, comprising 47% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports. It was followed by Japan, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+35.2% per year) and Japan (-0.9% per year).

Import Prices by Country

The average electroplating machine import price stood at $X per unit in 2021, growing by 18% against the previous year. Over the period under review, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2020 an increase of 76%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+46.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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