Singapore: Tuner Block Market 2024

Tuner Block Market Size in Singapore

In 2022, the Singaporean tuner block market increased by 162% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption enjoyed resilient growth. Tuner block consumption peaked in 2022 and is expected to retain growth in the near future.

Tuner Block Production in Singapore

In value terms, tuner block production surged to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 524%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Tuner Block Exports

Exports from Singapore

In 2022, overseas shipments of tuner blocks decreased by -59.8% to X units, falling for the second consecutive year after six years of growth. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 554% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tuner block exports shrank markedly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 1,029% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for tuner block exports from Singapore, accounting for a 91% share of total exports. Moreover, tuner block exports to the United States exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+8.6% per year) and Hong Kong SAR (+10.8% per year).

In value terms, the United States ($X) remains the key foreign market for tuner blocks exports from Singapore, comprising 94% of total exports. The second position in the ranking was held by China ($X), with a 1.7% share of total exports. It was followed by Hong Kong SAR, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +69.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+69.6% per year) and Hong Kong SAR (+11.9% per year).

Export Prices by Country

The average tuner block export price stood at $X per unit in 2022, with an increase of 53% against the previous year. Overall, the export price enjoyed tangible growth. The growth pace was the most rapid in 2019 an increase of 160%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Indonesia ($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 the United States (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Tuner Block Imports

Imports into Singapore

In 2022, purchases abroad of tuner blocks decreased by -26.8% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 347% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, tuner block imports dropped significantly to $X in 2022. In general, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 386% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) constituted the largest tuner block supplier to Singapore, with a 83% share of total imports. Moreover, tuner block imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X units), ninefold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at +82.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.8% per year) and South Korea (+88.4% per year).

In value terms, Indonesia ($X) constituted the largest supplier of tuner blocks to Singapore, comprising 88% of total imports. The second position in the ranking was taken by China ($X), with a 5.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia stood at +92.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.6% per year) and South Korea (+78.5% per year).

Import Prices by Country

The average tuner block import price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the import price saw a slight setback. The pace of growth was the most pronounced in 2013 an increase of 36%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 Indonesia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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