Singapore: Metal Sawing Machine Market 2024

Metal Sawing Machine Market Size in Singapore

The Singaporean metal sawing machine market skyrocketed to $X in 2021, growing by 27% against the previous year. Overall, consumption enjoyed buoyant growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Sawing Machine Production in Singapore

In value terms, metal sawing machine production fell markedly to $X in 2021 estimated in export price. Over the period under review, production saw a abrupt slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 190%. Metal sawing machine production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Metal Sawing Machine Exports

Exports from Singapore

Metal sawing machine exports from Singapore declined notably to X units in 2021, with a decrease of -20.7% on the previous year. Over the period under review, exports saw a dramatic descent. The growth pace was the most rapid in 2020 with an increase of 114%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal sawing machine exports dropped to $X in 2021. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2020 with an increase of 223% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for metal sawing machine exports from Singapore, accounting for a 57% share of total exports. Moreover, metal sawing machine exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X units), fivefold. Brunei Darussalam (X units) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled -24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-17.4% per year) and Brunei Darussalam (+33.1% per year).

In value terms, Malaysia ($X), South Korea ($X) and Indonesia ($X) constituted the largest markets for metal sawing machine exported from Singapore worldwide, together accounting for 57% of total exports. These countries were followed by Brunei Darussalam, Australia, Saudi Arabia, Turkey and India, which together accounted for a further 15%.

Turkey, with a CAGR of +156.4%, recorded the highest growth rate of 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 metal sawing machine export price amounted to $X per unit, increasing by 12% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 89% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to Turkey ($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 India (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Sawing Machine Imports

Imports into Singapore

In 2021, imports of sawing or cutting-off machines for working metal into Singapore soared to X units, with an increase of 47% on 2020 figures. In general, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 110%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal sawing machine imports stood at $X in 2021. Overall, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 49% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal sawing machine to Singapore, accounting for a 79% share of total imports. Moreover, metal sawing machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Malaysia (X units) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-15.7% per year) and Malaysia (-24.7% per year).

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) were the largest metal sawing machine suppliers to Singapore, together accounting for 69% of total imports. These countries were followed by the UK, the United States, Malaysia and Vietnam, which together accounted for a further 20%.

In terms of the main suppliers, Vietnam, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average metal sawing machine import price stood at $X per unit in 2021, which is down by -29.7% against the previous year. In general, the import price saw a perceptible descent. The pace of growth appeared the most rapid in 2016 an increase of 105% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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