Singapore: Working Wire Machine Market 2024

Working Wire Machine Market Size in Singapore

The Singaporean working wire machine market fell to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Working wire machine consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Working Wire Machine Production in Singapore

In value terms, working wire machine production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Working Wire Machine Exports

Exports from Singapore

In 2022, shipments abroad of machines for working wire increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a sharp decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, working wire machine exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for working wire machine exports from Singapore, with a X% share of total exports. Moreover, working wire machine exports to Indonesia exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for machines for working wire exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average working wire machine export price amounted to $X per unit, rising by X% against the previous year. Overall, the export price enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Belgium ($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 Australia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into Singapore

In 2022, approx. X units of machines for working wire were imported into Singapore; with a decrease of X% against 2021 figures. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, working wire machine imports rose remarkably to $X in 2022. In general, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest working wire machine supplier to Singapore, with a X% share of total imports. Moreover, working wire machine imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Italy (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Italy (X% per year).

In value terms, the largest working wire machine suppliers to Singapore were Japan ($X), Italy ($X) and Germany ($X), together accounting for X% of total imports.

Japan, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average working wire machine import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price recorded a modest expansion. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 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 Germany ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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