Singapore: Data Storage Device Market 2024

Data Storage Device Market Size in Singapore

The Singaporean data storage device market surged to $X in 2022, picking up by 96% against the previous year. Over the period under review, consumption recorded a buoyant expansion. Data storage device consumption peaked in 2022 and is expected to retain growth in years to come.

Data Storage Device Production in Singapore

In value terms, data storage device production soared to $X in 2022 estimated in export price. Overall, production, however, faced a drastic downturn. Data storage device production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Data Storage Device Exports

Exports from Singapore

In 2022, overseas shipments of data storage devices decreased by -27.2% to X units, falling for the second consecutive year after two years of growth. In general, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 when exports increased by 39% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, data storage device exports amounted to $X in 2022. Overall, exports continue to indicate a deep slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), China (X units) and Taiwan (Chinese) (X units) were the main destinations of data storage device exports from Singapore, with a combined 36% share of total exports. Hong Kong SAR, Malaysia, the Philippines, Japan, Thailand, India, the United States, the Netherlands and Vietnam lagged somewhat behind, together accounting for a further 54%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +5.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for data storage device exported from Singapore were Japan ($X), China ($X) and India ($X), with a combined 46% share of total exports. Taiwan (Chinese), the United States, Indonesia, Hong Kong SAR, the Netherlands, Thailand, Malaysia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 32%.

Taiwan (Chinese), with a CAGR of +7.7%, recorded the highest growth rate of 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

The average data storage device export price stood at $X per unit in 2022, increasing by 39% against the previous year. In general, the export price posted a remarkable increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 68%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the Philippines ($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 India (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Data Storage Device Imports

Imports into Singapore

For the third consecutive year, Singapore recorded decline in purchases abroad of data storage devices, which decreased by -17% to X units in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 18% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, data storage device imports rose remarkably to $X in 2022. In general, imports saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 21%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of data storage device imports to Singapore, together accounting for 69% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of -1.0%), while purchases for the other leaders experienced a decline.

In value terms, the largest data storage device suppliers to Singapore were Thailand ($X), China ($X) and the United States ($X), with a combined 66% share of total imports. The Philippines, Taiwan (Chinese), Malaysia and South Korea lagged somewhat behind, together comprising a further 26%.

Taiwan (Chinese), with a CAGR of +12.7%, 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

In 2022, the average data storage device import price amounted to $X per unit, with an increase of 29% against the previous year. Overall, the import price enjoyed a prominent expansion. The growth pace was the most rapid in 2016 when the average import price increased by 37% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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