Singapore: Steam Blasting Machine Market 2024

Steam Blasting Machine Market Size in Singapore

The Singaporean steam blasting machine market dropped modestly to $X in 2023, falling by X% against the previous year. Overall, consumption, however, posted a prominent increase. Steam blasting machine consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Steam Blasting Machine Production in Singapore

In value terms, steam blasting machine production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production posted a significant expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2023, production failed to regain momentum.

Steam Blasting Machine Exports

Exports from Singapore

In 2023, shipments abroad of steam or sand blasting machines and similar jet-projecting machines increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, steam blasting machine exports fell markedly to $X in 2023. Over the period under review, exports, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and China (X units) were the main destinations of steam blasting machine exports from Singapore, with a combined X% share of total exports. The United Arab Emirates, Thailand, South Korea, the Philippines and Vietnam lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steam blasting machine exported from Singapore were Indonesia ($X), China ($X) and Malaysia ($X), with a combined X% share of total exports. The United Arab Emirates, Thailand, Vietnam, the Philippines and South Korea lagged somewhat behind, together accounting for a further X%.

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

In 2023, the average steam blasting machine export price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced a decline.

Steam Blasting Machine Imports

Imports into Singapore

In 2023, approx. X units of steam or sand blasting machines and similar jet-projecting machines were imported into Singapore; with a decrease of X% on 2022. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X units in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, steam blasting machine imports dropped rapidly to $X in 2023. Over the period under review, imports continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, China (X units) constituted the largest steam blasting machine supplier to Singapore, with a X% share of total imports. Moreover, steam blasting machine imports from China exceeded the figures recorded by the second-largest supplier, Greece (X units), fourfold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Germany (X% per year).

In value terms, Hungary ($X) constituted the largest supplier of steam or sand blasting machines and similar jet-projecting machines to Singapore, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Hungary stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average steam blasting machine import price amounted to $X per unit, jumping by X% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, steam blasting machine import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Greece (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform