Singapore: Market for Non-Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Sharpening Machines For Working Metal in Singapore

The Singaporean non-numerically controlled sharpening machine market expanded to $X in 2022, growing by 4.4% against the previous year. Over the period under review, consumption saw a measured increase. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Non-Numerically Controlled Sharpening Machines For Working Metal in Singapore

In value terms, non-numerically controlled sharpening machine production surged to $X in 2022 estimated in export price. Overall, production saw moderate growth. The most prominent rate of growth was recorded in 2019 with an increase of 101% against the previous year. Non-numerically controlled sharpening machine production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Non-Numerically Controlled Sharpening Machines For Working Metal

Exports from Singapore

In 2022, exports of non-numerically controlled sharpening machines for working metal from Singapore soared to X units, with an increase of 350% on the previous year. In general, exports continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-numerically controlled sharpening machine exports surged to $X in 2022. Over the period under review, exports saw a strong increase. The growth pace was the most rapid in 2019 with an increase of 642%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Papua New Guinea (X units), Indonesia (X units) and Malaysia (X units) were the main destinations of non-numerically controlled sharpening machine exports from Singapore, together comprising 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for Papua New Guinea (with a CAGR of +53.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for non-numerically controlled sharpening machines for working metal exports from Singapore, comprising 49% of total exports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+36.8% per year) and Papua New Guinea (+46.4% per year).

Export Prices by Country

The average non-numerically controlled sharpening machine export price stood at $X per unit in 2022, falling by -26% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 137% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Papua New Guinea ($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 Myanmar (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Numerically Controlled Sharpening Machines For Working Metal

Imports into Singapore

In 2022, overseas purchases of non-numerically controlled sharpening machines for working metal were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 172%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, non-numerically controlled sharpening machine imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2019 when imports increased by 309%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-numerically controlled sharpening machine to Singapore, accounting for a 61% share of total imports. Moreover, non-numerically controlled sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), sixfold. The third position in this ranking was taken by Germany (X units), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+64.3% per year) and Germany (-20.6% per year).

In value terms, the United States ($X) constituted the largest supplier of non-numerically controlled sharpening machines for working metal to Singapore, comprising 53% of total imports. The second position in the ranking was taken by Italy ($X), with a 9.9% share of total imports. It was followed by China, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +49.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+33.4% per year) and China (-2.0% per year).

Import Prices by Country

The average non-numerically controlled sharpening machine import price stood at $X per unit in 2022, surging by 24% against the previous year. Overall, the import price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 166% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($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 United States (+6.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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