Singapore: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in Singapore

The Singaporean wood milling machine market skyrocketed to $X in 2021, jumping by 4,447% against the previous year. In general, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood Milling Machine Production in Singapore

In value terms, wood milling machine production soared to $X in 2021 estimated in export price. In general, production continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,117% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wood Milling Machine Exports

Exports from Singapore

In 2021, shipments abroad of planing, milling or moulding machines decreased by -98.3% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 898% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, wood milling machine exports soared to $X in 2021. Overall, exports, however, continue to indicate a perceptible expansion. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units), Indonesia (X units) and India (X units) were the main destinations of wood milling machine exports from Singapore, together accounting for 61% of total exports. The UK, France, Poland and the United States lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +52.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Malaysia ($X) and the UK ($X) were the largest markets for wood milling machine exported from Singapore worldwide, together comprising 41% of total exports. France, India, Indonesia and Poland lagged somewhat behind, together accounting for a further 17%.

France, with a CAGR of +220.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 wood milling machine export price amounted to $X per unit, rising by 7,837% against the previous year. In general, the export price, however, recorded a abrupt contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 the United States ($X per unit), while the average price for exports to Indonesia ($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 Poland (+8,198.2%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Milling Machine Imports

Imports into Singapore

Wood milling machine imports into Singapore dropped to X units in 2021, which is down by -10.6% against 2020. In general, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 502%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wood milling machine imports soared to $X in 2021. Overall, imports faced a drastic downturn. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of wood milling machine to Singapore, accounting for a 61% share of total imports. Moreover, wood milling machine imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and Taiwan (Chinese) (+6.9% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of planing, milling or moulding machines to Singapore, comprising 64% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the United States, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at -12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.3% per year) and the United States (-10.1% per year).

Import Prices by Country

The average wood milling machine import price stood at $X per unit in 2021, increasing by 270% against the previous year. In general, the import price, however, saw a sharp curtailment. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-13.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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