Singapore: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Singapore

In 2021, the Singaporean electric rotary converter market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a sharp downturn. Electric rotary converter consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Electric Rotary Converter Production in Singapore

In value terms, electric rotary converter production declined slightly to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 18% against the previous year. Electric rotary converter production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Electric Rotary Converter Exports

Exports from Singapore

In 2021, the amount of electric rotary converters exported from Singapore reduced dramatically to X units, waning by -79.8% on 2020 figures. Over the period under review, exports saw a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 228% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, electric rotary converter exports shrank dramatically to $X in 2021. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 201%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X units) was the main destination for electric rotary converter exports from Singapore, accounting for a 41% share of total exports. Moreover, electric rotary converter exports to Malaysia exceeded the volume sent to the second major destination, Hong Kong SAR (X units), fourfold. Bangladesh (X units) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+40.6% per year) and Bangladesh (+17.2% per year).

In value terms, the largest markets for electric rotary converter exported from Singapore were the Netherlands ($X), France ($X) and Malaysia ($X), together accounting for 64% of total exports.

The Netherlands, with a CAGR of +129.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 electric rotary converter export price amounted to $X per unit, growing by 90% against the previous year. Over the period under review, the export price, however, saw a mild reduction. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per unit), while the average price for exports to Hong Kong SAR ($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 the Netherlands (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Rotary Converter Imports

Imports into Singapore

In 2021, after two years of decline, there was significant growth in overseas purchases of electric rotary converters, when their volume increased by 23% to X units. Overall, imports, however, continue to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2014 with an increase of 127% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, electric rotary converter imports reached $X in 2021. In general, imports, however, saw a deep contraction. The growth pace was the most rapid in 2015 when imports increased by 61%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X units) constituted the largest electric rotary converter supplier to Singapore, with a 60% share of total imports. Moreover, electric rotary converter imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X units), sixfold. China (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.1% per year) and China (-31.0% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of electric rotary converters to Singapore, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with a 19% share of total imports. It was followed by Italy, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+22.7% per year) and Italy (+20.7% per year).

Import Prices by Country

In 2021, the average electric rotary converter import price amounted to $X per unit, which is down by -18.6% against the previous year. In general, the import price, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 303% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then contracted notably in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($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 (+33.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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