Singapore: Internal Combustion Engines Market 2025

Internal Combustion Engines Market Size in Singapore

The Singaporean internal combustion engines market shrank to $X in 2021, which is down by -11.9% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Internal Combustion Engines Production in Singapore

In value terms, internal combustion engines production declined to $X in 2021 estimated in export price. Overall, production continues to indicate a mild slump. The pace of growth was the most pronounced in 2013 with an increase of 108% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Internal Combustion Engines Exports

Exports from Singapore

In 2021, approx. X units of motor vehicles compression-ignition internal combustion piston engines were exported from Singapore; growing by 40% compared with the previous year's figure. Overall, exports, however, recorded a deep setback. The pace of growth was the most pronounced in 2019 when exports increased by 86% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, internal combustion engines exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed notable growth. The pace of growth appeared the most rapid in 2018 with an increase of 122% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X units), Indonesia (X units) and Thailand (X units) were the main destinations of internal combustion engines exports from Singapore, with a combined 55% share of total exports. These countries were followed by India, Vietnam, Malaysia, Germany and Bangladesh, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +71.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) emerged as the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Singapore, comprising 27% of total exports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total exports. It was followed by Indonesia, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+13.3% per year) and Indonesia (-16.5% per year).

Export Prices by Country

In 2021, the average internal combustion engines export price amounted to $X per unit, increasing by 15% against the previous year. Over the period under review, the export price recorded resilient growth. The growth pace was the most rapid in 2017 when the average export price increased by 160%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Singapore

Internal combustion engines imports into Singapore shrank significantly to X units in 2021, reducing by -34.2% against the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 170% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, internal combustion engines imports dropped to $X in 2021. In general, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 144% against the previous year. Imports peaked at $X in 2020, and then shrank in the following year.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of internal combustion engines to Singapore, with a 52% share of total imports. Moreover, internal combustion engines imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. The third position in this ranking was held by India (X units), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+16.9% per year) and India (+53.6% per year).

In value terms, the largest internal combustion engines suppliers to Singapore were Germany ($X), the United States ($X) and India ($X), together accounting for 94% of total imports. These countries were followed by the United Arab Emirates, the UK, Malaysia, China, Japan, Sweden and Hong Kong SAR, which together accounted for a further 3.4%.

The United Arab Emirates, with a CAGR of +112.4%, 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 2021, the average internal combustion engines import price amounted to $X per unit, growing by 38% against the previous year. In general, the import price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 204% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :