Singapore: Test Bench Market 2025

Test Bench Market Size in Singapore

The Singaporean test bench market skyrocketed to $X in 2022, growing by 18% against the previous year. Overall, consumption recorded prominent growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Test Bench Production in Singapore

In value terms, test bench production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 152% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Test Bench Exports

Exports from Singapore

For the fourth consecutive year, Singapore recorded decline in overseas shipments of test benches, which decreased by -40.5% to X units in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -50.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 57% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, test bench exports expanded remarkably to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.3% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 61% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X units), Indonesia (X units) and Malaysia (X units) were the main destinations of test bench exports from Singapore, with a combined 40% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +152.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for test bench exported from Singapore were Germany ($X), Indonesia ($X) and Malaysia ($X), together comprising 40% of total exports. China, Japan, Thailand, Taiwan (Chinese), Spain, the United States, Romania, the UK, Russia and the Philippines lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Spain, with a CAGR of +114.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average test bench export price amounted to $X per unit, with an increase of 86% against the previous year. In general, the export price continues to indicate resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Spain ($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 Germany (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Test Bench Imports

Imports into Singapore

In 2022, approx. X units of test benches were imported into Singapore; surging by 9.2% on 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 53% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, test bench imports rose notably to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X units), France (X units) and Malaysia (X units) were the main suppliers of test bench imports to Singapore, together comprising 52% of total imports. Germany, Finland, China, Austria, Taiwan (Chinese), Japan, Sweden and the UK lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +85.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of test benches to Singapore, comprising 26% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.0% per year) and Malaysia (-11.9% per year).

Import Prices by Country

The average test bench import price stood at $X per unit in 2022, growing by 4.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The pace of growth was the most pronounced in 2021 an increase of 22%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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