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

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

The Singaporean numerically controlled sharpening machine market dropped significantly to $X in 2022, which is down by -31.7% against the previous year. Over the period under review, consumption, however, saw a significant expansion. Numerically controlled sharpening machine consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Numerically Controlled Sharpening Machines For Working Metal in Singapore

In value terms, numerically controlled sharpening machine production shrank dramatically to $X in 2022 estimated in export price. In general, production faced a deep setback. The growth pace was the most rapid in 2015 when the production volume increased by 265%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Numerically Controlled Sharpening Machines For Working Metal

Exports from Singapore

In 2022, numerically controlled sharpening machine exports from Singapore declined sharply to X units, waning by -16.3% on 2021 figures. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 235%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, numerically controlled sharpening machine exports declined significantly to $X in 2022. Over the period under review, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2015 with an increase of 140%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X units) was the main destination for numerically controlled sharpening machine exports from Singapore, with a 95% share of total exports. It was followed by Thailand (X units), with a 2.8% share of total exports. The third position in this ranking was held by the Philippines (X units), with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+23.6% per year) and the Philippines (+46.0% per year).

In value terms, Malaysia ($X) remains the key foreign market for numerically controlled sharpening machines for working metal exports from Singapore, comprising 78% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by the Philippines, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+26.1% per year) and the Philippines (+30.3% per year).

Export Prices by Country

In 2022, the average numerically controlled sharpening machine export price amounted to $X per unit, falling by -30.9% against the previous year. In general, the export price showed a abrupt setback. The pace of growth appeared the most rapid in 2018 when the average export price increased by 51% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Malaysia ($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 Thailand (+2.0%), while the prices for the other major destinations experienced a decline.

Imports of Numerically Controlled Sharpening Machines For Working Metal

Imports into Singapore

In 2022, numerically controlled sharpening machine imports into Singapore declined remarkably to X units, shrinking by -48.6% against the year before. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 473% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, numerically controlled sharpening machine imports rose remarkably to $X in 2022. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 724% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Switzerland (X units), Japan (X units) and Malaysia (X units) were the main suppliers of numerically controlled sharpening machine imports to Singapore, with a combined 81% share of total imports. The United States, China and the Philippines lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +96.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of numerically controlled sharpening machines for working metal to Singapore, comprising 73% of total imports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total imports. It was followed by Japan, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland totaled +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+64.3% per year) and Japan (+11.7% per year).

Import Prices by Country

In 2022, the average numerically controlled sharpening machine import price amounted to $X per unit, with an increase of 110% against the previous year. Over the period under review, the import price, however, showed a mild curtailment. The import price peaked at $X per unit in 2012; however, from 2013 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 Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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