Singapore: Stone Sawing Machine Market 2024

Stone Sawing Machine Market Size in Singapore

The Singaporean stone sawing machine market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption enjoyed moderate growth. Stone sawing machine consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Stone Sawing Machine Production in Singapore

In value terms, stone sawing machine production soared to $X in 2021 estimated in export price. In general, production showed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 175%. Stone sawing machine production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Stone Sawing Machine Exports

Exports from Singapore

In 2021, the amount of sawing machines for working stone, ceramics and concrete exported from Singapore dropped notably to X units, waning by -67.7% against the previous year. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 754%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, stone sawing machine exports declined rapidly to $X in 2021. Over the period under review, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2016 with an increase of 371%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for stone sawing machine exports from Singapore, with a 40% share of total exports. Moreover, stone sawing machine exports to India exceeded the volume sent to the second major destination, Bulgaria (X units), twofold. The third position in this ranking was taken by the Philippines (X units), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to +17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and the Philippines (-8.0% per year).

In value terms, India ($X) emerged as the key foreign market for sawing machines for working stone, ceramics and concrete exports from Singapore, comprising 64% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 20% share of total exports. It was followed by Malaysia, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +43.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-9.3% per year) and Malaysia (-1.2% per year).

Export Prices by Country

In 2021, the average stone sawing machine export price amounted to $X per unit, with a decrease of -29.6% against the previous year. In general, the export price, however, saw a slight expansion. The most prominent rate of growth was recorded in 2020 an increase of 301% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while the average price for exports to Bulgaria ($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 Switzerland (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Sawing Machine Imports

Imports into Singapore

In 2021, the amount of sawing machines for working stone, ceramics and concrete imported into Singapore contracted dramatically to X units, waning by -70.2% on the previous year. In general, imports saw a significant decrease. The pace of growth was the most pronounced in 2014 when imports increased by 142%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, stone sawing machine imports declined sharply to $X in 2021. Over the period under review, imports recorded a deep slump. The pace of growth was the most pronounced in 2014 with an increase of 329%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of stone sawing machine to Singapore, with a 82% share of total imports. Moreover, stone sawing machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), ninefold. Austria (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+36.1% per year) and Austria (+19.6% per year).

In value terms, Germany ($X) constituted the largest supplier of sawing machines for working stone, ceramics and concrete to Singapore, comprising 79% of total imports. The second position in the ranking was held by Austria ($X), with a 7.9% share of total imports. It was followed by China, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +36.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+6.3% per year) and China (-30.6% per year).

Import Prices by Country

In 2021, the average stone sawing machine import price amounted to $X per unit, waning by -37.4% against the previous year. In general, the import price, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 177% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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