Report Update: Apr 1, 2024

Singapore - Grinding And Sharpening Metal Finishing Machines - Market Analysis, Forecast, Size, Trends and Insights

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Price for Grinding and Sharpening Machine in Singapore - 2022

Price for Grinding and Sharpening Machine in Singapore (FOB) - 2022

In 2022, the average grinding and sharpening machine export price amounted to $620 per unit, dropping by -33.4% against the previous year. Over the period under review, the export price saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 69% against the previous year. Over the period under review, the average export prices hit record highs at $1,538 per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($1,334 per unit), while the average price for exports to Papua New Guinea ($0.6 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 India (-2.0%), while the prices for the other major destinations experienced a decline.

Price for Grinding and Sharpening Machine in Singapore (CIF) - 2022

The average grinding and sharpening machine import price stood at $2,376 per unit in 2022, falling by -13.2% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grinding and sharpening machine import price increased by +63.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 38%. The import price peaked at $2,843 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($18,096 per unit), while the price for China ($239 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+39.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Grinding and Sharpening Machine in Singapore

In 2022, overseas shipments of grinding and sharpening metal finishing machines increased by 39% to 12K units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a relatively flat trend pattern. The exports peaked at 13K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports shrank to $7.6M in 2022. Over the period under review, exports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 51%. As a result, the exports attained the peak of $8.2M, and then contracted in the following year.

Export of Grinding and Sharpening Machine in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	1,337	1,125	1,187	1,025	-8.5%
Japan	1,038	892	969	738	-10.7%
United States	945	443	804	620	-13.1%
Thailand	194	129	103	553	41.8%
India	240	264	576	551	31.9%
Indonesia	318	540	527	475	14.3%
Vietnam	17.1	57.9	14.9	230	137.8%
Australia	12.2	6.7	226	5.8	-22.0%
Papua New Guinea	N/A	N/A	N/A	1.3	0%
Nigeria	124	4.5	N/A	N/A	-96.4%
Others	3,896	1,970	3,821	3,398	-4.5%
Total	8,121	5,433	8,226	7,596	-2.2%

Top Export Markets for Grinding and Sharpening Machine from Singapore in 2022:

Australia (undefinedK units)
Malaysia (5.9K units)
Papua New Guinea (2.0K units)
Indonesia (1.9K units)
United States (0.6K units)
Thailand (0.5K units)
India (0.4K units)
Vietnam (0.2K units)
Japan (0.1K units)

Imports of Grinding and Sharpening Machine in Singapore

In 2022, supplies from abroad of grinding and sharpening metal finishing machines was finally on the rise to reach 7.8K units after two years of decline. Over the period under review, imports, however, recorded a deep contraction. Over the period under review, imports hit record highs at 15K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, grinding and sharpening machine imports dropped to $19M in 2022. Overall, imports, however, recorded a perceptible contraction. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year. Over the period under review, imports reached the peak figure at $22M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Grinding and Sharpening Machine in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	7.1	8.9	9.7	9.3	9.4%
Germany	4.1	4.3	4.5	4.5	3.2%
Switzerland	1.6	0.4	0.5	1.3	-6.7%
China	0.4	0.4	0.9	1.0	35.7%
Thailand	0.5	0.3	0.4	0.7	11.9%
Japan	4.5	0.4	1.8	0.6	-48.9%
Italy	0.4	0.2	0.2	0.3	-9.1%
Taiwan (Chinese)	0.8	0.2	0.6	0.3	-27.9%
Malaysia	0.1	0.1	0.4	0.2	26.0%
Sweden	N/A	N/A	0.1	0.1	0.0%
Spain	1.2	N/A	N/A	N/A	0%
South Africa	N/A	N/A	N/A	N/A	0%
Others	0.8	0.7	0.6	0.4	-20.6%
Total	21.5	15.9	19.8	18.6	-4.7%

Top Suppliers of Grinding and Sharpening Machine to Singapore in 2022:

China (4020.0 units)
Germany (682.0 units)
Malaysia (573.0 units)
United States (512.0 units)
Switzerland (461.0 units)
Japan (314.0 units)
Italy (306.0 units)
Thailand (262.0 units)
Taiwan (Chinese) (200.0 units)
Sweden (168.0 units)
South Africa (2.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for grinding and sharpening machine in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28412305 - Numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412315 - Numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412325 - Other numerically controlled grinding machines in which the positioning in any one axis can be set up to accuracy > 0,01 mm
Prodcom 28412335 - Non-numerically controlled flat-surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412345 - Non-numerically controlled cylindrical surface grinding machines for working metal, in which the positioning in any one axis can be set up to a minimum accuracy of 0,01 mm
Prodcom 28412355 - Grinding machines for working metal, any one axis can be set to an accuracy . 0,01 mm excluding flat-surface grinding machines, cylindrical surface grinding machines
Prodcom 28412365 - Numerically controlled sharpening (tool or cutter grinding) m achines for working metal
Prodcom 28412375 - Non-numerically controlled sharpening (tool or cutter grinding) machines for working metal

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023