Singapore: Sealed Beam Market 2024

Sealed Beam Market Size in Singapore

The Singaporean sealed beam market declined markedly to $X in 2022, shrinking by -91.8% against the previous year. Overall, consumption saw a sharp descent. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Sealed Beam Production in Singapore

In value terms, sealed beam production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production faced a sharp contraction. The pace of growth appeared the most rapid in 2013 when the production volume increased by 2,153% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Sealed Beam Exports

Exports from Singapore

After four years of decline, shipments abroad of sealed beam lamp units increased by 194% to X units in 2022. Over the period under review, exports, however, continue to indicate a deep reduction. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sealed beam exports skyrocketed to $X in 2022. Overall, exports, however, showed a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for sealed beam exports from Singapore, with a 82% share of total exports. Moreover, sealed beam exports to Malaysia exceeded the volume sent to the second major destination, the United Arab Emirates (X units), more than tenfold. The third position in this ranking was held by Austria (X units), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+3.6% per year) and Austria (+74.6% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for sealed beam lamp units exports from Singapore, comprising 60% of total exports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total exports. It was followed by China, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-11.3% per year) and China (+1.4% per year).

Export Prices by Country

The average sealed beam export price stood at $X per unit in 2022, declining by -30.4% against the previous year. Overall, the export price, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 an increase of 91%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then reduced notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+42.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sealed Beam Imports

Imports into Singapore

In 2022, approx. X units of sealed beam lamp units were imported into Singapore; waning by -29% on the previous year. Overall, imports saw a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 18%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sealed beam imports reduced to $X in 2022. In general, imports saw a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest sealed beam supplier to Singapore, with a 56% share of total imports. Moreover, sealed beam imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-28.9% per year) and Taiwan (Chinese) (-5.4% per year).

In value terms, Japan ($X), the United States ($X) and China ($X) were the largest sealed beam suppliers to Singapore, together comprising 48% of total imports. Taiwan (Chinese), Indonesia, South Korea, Malaysia and Poland lagged somewhat behind, together accounting for a further 12%.

Poland, with a CAGR of +65.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sealed beam import price stood at $X per unit in 2022, rising by 29% against the previous year. In general, the import price enjoyed a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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