Singapore: Market for Parts For Electric Filament Or Discharge Lamps 2024

Market Size for Parts For Electric Filament Or Discharge Lamps in Singapore

The Singaporean electric filament lamp parts market surged to $X in 2021, growing by 94% against the previous year. In general, consumption enjoyed a significant increase. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Parts For Electric Filament Or Discharge Lamps in Singapore

In value terms, electric filament lamp parts production soared to $X in 2021 estimated in export price. In general, production posted significant growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 901%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Exports of Parts For Electric Filament Or Discharge Lamps

Exports from Singapore

In 2021, overseas shipments of parts for electric filament or discharge lamps decreased by -60.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports faced a deep contraction. The growth pace was the most rapid in 2016 with an increase of 96%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, electric filament lamp parts exports fell significantly to $X in 2021. In general, exports showed a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 77%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons) were the main destinations of electric filament lamp parts exports from Singapore, together accounting for 91% of total exports.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of -15.7%), while shipments for the other leaders experienced a decline.

In value terms, Indonesia ($X) remains the key foreign market for electric filament lamp parts exports from Singapore, comprising 54% of total exports. The second position in the ranking was taken by India ($X), with an 18% share of total exports. It was followed by Malaysia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia totaled -14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-2.0% per year) and Malaysia (-22.6% per year).

Export Prices by Country

In 2021, the average electric filament lamp parts export price amounted to $X per ton, almost unchanged from the previous year. Overall, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric filament lamp parts export price increased by +143.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 142%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Myanmar ($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 India (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts For Electric Filament Or Discharge Lamps

Imports into Singapore

For the third year in a row, Singapore recorded decline in supplies from abroad of parts for electric filament or discharge lamps, which decreased by -32.5% to X tons in 2021. Over the period under review, imports saw a deep contraction. The growth pace was the most rapid in 2014 with an increase of 233% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, electric filament lamp parts imports declined to $X in 2021. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when imports increased by 107%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electric filament lamp parts to Singapore, accounting for a 65% share of total imports. Moreover, electric filament lamp parts imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Indonesia (X tons), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.8% per year) and Indonesia (-7.8% per year).

In value terms, the United States ($X), China ($X) and Indonesia ($X) were the largest electric filament lamp parts suppliers to Singapore, with a combined 74% share of total imports. These countries were followed by India and Hong Kong SAR, which together accounted for a further 1.7%.

India, with a CAGR of +38.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average electric filament lamp parts import price amounted to $X per ton, rising by 29% against the previous year. Over the period under review, the import price posted a notable increase. The pace of growth appeared the most rapid in 2015 an increase of 162%. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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