Singapore: Mobile Lifting Frame Market 2024

Mobile Lifting Frame Market Size in Singapore

In 2021, the Singaporean mobile lifting frame market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a slight downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Mobile Lifting Frame Production in Singapore

In value terms, mobile lifting frame production fell sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 315% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Mobile Lifting Frame Exports

Exports from Singapore

In 2021, mobile lifting frame exports from Singapore declined to X units, reducing by -15% compared with 2020 figures. In general, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2014 when exports increased by 222% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mobile lifting frame exports shrank markedly to $X in 2021. Overall, exports recorded a precipitous decline. The growth pace was the most rapid in 2014 with an increase of 225%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Taiwan (Chinese) (X units) and Thailand (X units) were the main destinations of mobile lifting frame exports from Singapore, with a combined 86% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +86.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Taiwan (Chinese) ($X) and Thailand ($X) constituted the largest markets for mobile lifting frame exported from Singapore worldwide, with a combined 86% share of total exports.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +97.4%, saw the highest rates of growth with regard to 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 mobile lifting frame export price stood at $X per unit in 2021, shrinking by -2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 when the average export price increased by 13% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Thailand ($X per unit) and Indonesia ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) and Kuwait ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Mobile Lifting Frame Imports

Imports into Singapore

In 2021, overseas purchases of mobile lifting frames on tyres and straddle carriers increased by 155% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, faced a abrupt downturn. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, mobile lifting frame imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of mobile lifting frame to Singapore, with a 57% share of total imports. Moreover, mobile lifting frame imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The UK (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.5% per year) and the UK (+85.8% per year).

In value terms, the United States ($X) constituted the largest supplier of mobile lifting frames on tyres and straddle carriers to Singapore, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 24% share of total imports. It was followed by the UK, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.5% per year) and the UK (+87.4% per year).

Import Prices by Country

In 2021, the average mobile lifting frame import price amounted to $X per unit, increasing by 4.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 10% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and New Zealand ($X per unit), while the price for Malaysia ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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