Singapore: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Singapore

The Singaporean market for pneumatic or hydraulic hand tools dropped to $X in 2021, reducing by -8.1% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -31.9% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Pneumatic Or Hydraulic Hand Tools in Singapore

In value terms, pneumatic or hydraulic hand tool production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a measured expansion. The growth pace was the most rapid in 2014 when the production volume increased by 1,000%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Singapore

Pneumatic or hydraulic hand tool exports from Singapore skyrocketed to X tons in 2021, jumping by 60% on 2020. In general, exports, however, saw a abrupt downturn. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pneumatic or hydraulic hand tool exports surged to $X in 2021. Overall, exports, however, recorded a perceptible contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and Thailand (X tons) were the main destinations of pneumatic or hydraulic hand tool exports from Singapore, with a combined 74% share of total exports. These countries were followed by Australia, Vietnam, India, China, the Philippines and the United Arab Emirates, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +24.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pneumatic or hydraulic hand tool exported from Singapore were Malaysia ($X), Indonesia ($X) and Australia ($X), together accounting for 67% of total exports.

In terms of the main countries of destination, Australia, with a CAGR of +30.2%, recorded the highest rates of growth with regard to 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

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, shrinking by -15.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 17%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Singapore

In 2021, overseas purchases of pneumatic or hydraulic hand tools increased by 42% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, saw a pronounced slump. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of pneumatic or hydraulic hand tool imports to Singapore, with a combined 58% share of total imports. These countries were followed by Norway, Taiwan (Chinese), Germany, Japan, Malaysia, the UK and Thailand, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +28.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Brazil ($X) were the largest pneumatic or hydraulic hand tool suppliers to Singapore, with a combined 56% share of total imports. Norway, Taiwan (Chinese), Germany, Japan, Thailand, the UK and Malaysia lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Norway, with a CAGR of +24.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for pneumatic or hydraulic hand tools amounted to $X per ton, surging by 6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Thailand ($X per ton), while the price for Brazil ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :