Singapore: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Singapore

In 2021, the Singaporean oil dispensing pump market increased by 279% to $X, rising for the second year in a row after four years of decline. In general, consumption posted strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Oil Dispensing Pump Production in Singapore

In value terms, oil dispensing pump production stood at $X in 2021 estimated in export price. Overall, production recorded strong growth. The growth pace was the most rapid in 2018 when the production volume increased by 128% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Oil Dispensing Pump Exports

Exports from Singapore

In 2021, shipments abroad of petrol and oil dispensing pumps increased by 340% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a resilient expansion. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, oil dispensing pump exports soared to $X in 2021. In general, exports posted tangible growth. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X units), Indonesia (X units) and Thailand (X units) were the main destinations of oil dispensing pump exports from Singapore, together comprising 42% of total exports. Taiwan (Chinese), Japan, the United States, Libya, Nigeria, Australia, China, Tonga, Hong Kong SAR and South Korea lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Libya (with a CAGR of +120.8%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Thailand ($X) were the largest markets for oil dispensing pump exported from Singapore worldwide, together accounting for 46% of total exports. Taiwan (Chinese), Japan, the United States, Australia, China, Hong Kong SAR, South Korea, Tonga, Libya and Nigeria lagged somewhat behind, together accounting for a further 34%.

Among the main countries of destination, Tonga, with a CAGR of +93.8%, recorded 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

In 2021, the average oil dispensing pump export price amounted to $X per unit, which is down by -44.8% against the previous year. Overall, the export price showed a pronounced curtailment. The most prominent rate of growth was recorded in 2015 an increase of 74% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+2.8%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Singapore

In 2021, the amount of petrol and oil dispensing pumps imported into Singapore surged to X units, with an increase of 277% against 2020. Overall, imports enjoyed a resilient increase. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, oil dispensing pump imports soared to $X in 2021. In general, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), Vietnam (X units) and Japan (X units) were the main suppliers of oil dispensing pump imports to Singapore, with a combined 70% share of total imports. India, South Korea, Ukraine, Malaysia, China, the UK, the United States, Germany and Thailand lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +415.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of petrol and oil dispensing pumps to Singapore, comprising 49% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by India, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.6% per year) and India (+48.3% per year).

Import Prices by Country

The average oil dispensing pump import price stood at $X per unit in 2021, declining by -19.9% against the previous year. In general, the import price saw a noticeable decline. The growth pace was the most rapid in 2016 when the average import price increased by 175% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+43.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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