Singapore: Market for Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Numerically Controlled Drilling Machines For Working Metal in Singapore

The Singaporean numerically controlled drilling machine market soared to $X in 2021, growing by 66% against the previous year. Over the period under review, consumption showed a buoyant increase. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Numerically Controlled Drilling Machines For Working Metal in Singapore

In value terms, numerically controlled drilling machine production fell rapidly to $X in 2021 estimated in export price. Overall, production, however, saw significant growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 99%. As a result, production reached the peak level of $X, and then declined rapidly in the following year.

Exports of Numerically Controlled Drilling Machines For Working Metal

Exports from Singapore

In 2021, numerically controlled drilling machine exports from Singapore declined remarkably to X tons, reducing by -97.6% on 2020. Over the period under review, exports faced a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 1,255%. As a result, the exports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, numerically controlled drilling machine exports shrank significantly to $X in 2021. In general, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 853%. As a result, the exports reached the peak of $X, and then contracted notably in the following year.

Exports by Country

Malaysia (X tons) was the main destination for numerically controlled drilling machine exports from Singapore, accounting for a 79% share of total exports. Moreover, numerically controlled drilling machine exports to Malaysia exceeded the volume sent to the second major destination, the Philippines (X kg), eightfold. India (X kg) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+5.6% per year) and India (-20.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for numerically controlled drilling machines for working metal exports from Singapore, comprising 74% of total exports. The second position in the ranking was held by the Philippines ($X), with a 16% share of total exports. It was followed by India, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+10.0% per year) and India (-20.4% per year).

Export Prices by Country

The average numerically controlled drilling machine export price stood at $X per ton in 2021, rising by 12% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 31%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Numerically Controlled Drilling Machines For Working Metal

Imports into Singapore

In 2021, the amount of numerically controlled drilling machines for working metal imported into Singapore reduced remarkably to X tons, which is down by -64.9% against 2020. In general, imports saw a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 181%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, numerically controlled drilling machine imports declined markedly to $X in 2021. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2013 with an increase of 166% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest numerically controlled drilling machine supplier to Singapore, with a 43% share of total imports. Moreover, numerically controlled drilling machine imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +60.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.9% per year) and the United States (-18.1% per year).

In value terms, China ($X) constituted the largest supplier of numerically controlled drilling machines for working metal to Singapore, comprising 43% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by the United States, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +53.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.3% per year) and the United States (-21.4% per year).

Import Prices by Country

In 2021, the average numerically controlled drilling machine import price amounted to $X per ton, dropping by -1.9% against the previous year. Overall, the import price showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 an increase of 9%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Korea ($X per ton) and Malaysia ($X per ton), while the price for China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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