Singapore: Market for Machine Tools For Working Metal Without Removing Metal 2024

Market Size for Machine Tools For Working Metal Without Removing Metal in Singapore

The Singaporean machine tool for metal market rose significantly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption enjoyed a buoyant increase. Machine tool for metal consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Machine Tools For Working Metal Without Removing Metal in Singapore

In value terms, machine tool for metal production expanded notably to $X in 2022 estimated in export price. Overall, production posted prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Singapore

After two years of decline, shipments abroad of machine tools for working metal without removing metal increased by X% to X units in 2022. Overall, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine tool for metal exports soared to $X in 2022. Over the period under review, exports, however, showed a pronounced curtailment. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for machine tool for metal exports from Singapore, accounting for a X% share of total exports. Moreover, machine tool for metal exports to Malaysia exceeded the volume sent to the second major destination, Belgium (X units), fourfold. Vietnam (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Vietnam (X% per year).

In value terms, Malaysia ($X), Belgium ($X) and Vietnam ($X) constituted the largest markets for machine tool for metal exported from Singapore worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of X%, 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

The average machine tool for metal export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, 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 Indonesia ($X per unit), while the average price for exports to Malaysia ($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 Belgium (X%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Singapore

In 2022, overseas purchases of machine tools for working metal without removing metal increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports enjoyed a moderate expansion. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, machine tool for metal imports skyrocketed to $X in 2022. Overall, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine tool for metal to Singapore, accounting for a X% share of total imports. Moreover, machine tool for metal imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), threefold. Italy (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Italy (X% per year).

In value terms, Italy ($X), China ($X) and Malaysia ($X) appeared to be the largest machine tool for metal suppliers to Singapore, together accounting for X% of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average machine tool for metal import price amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the import price, however, faced a abrupt downturn. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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