Singapore: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Singapore

For the third consecutive year, the Singaporean liquid fuel furnace burner market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption saw a deep downturn. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Furnace Burners For Liquid Fuel in Singapore

In value terms, liquid fuel furnace burner production surged to $X in 2022 estimated in export price. In general, production enjoyed modest growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Liquid fuel furnace burner production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Furnace Burners For Liquid Fuel

Exports from Singapore

After two years of decline, overseas shipments of furnace burners for liquid fuel increased by X% to X units in 2022. In general, exports showed a prominent expansion. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, liquid fuel furnace burner exports surged to $X in 2022. Overall, exports saw a temperate expansion. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Malaysia (X units) and Hong Kong SAR (X units) were the main destinations of liquid fuel furnace burner exports from Singapore, together comprising X% of total exports. These countries were followed by Vietnam, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Hong Kong SAR ($X) appeared to be the largest markets for liquid fuel furnace burner exported from Singapore worldwide, with a combined X% share of total exports. Vietnam lagged somewhat behind, accounting for a further X%.

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

The average liquid fuel furnace burner export price stood at $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per unit) and Hong Kong SAR ($X per unit), while the average price for exports to Indonesia ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2022, 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.

Imports of Furnace Burners For Liquid Fuel

Imports into Singapore

In 2022, overseas purchases of furnace burners for liquid fuel were finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports skyrocketed to $X in 2022. In general, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the UK (X units) constituted the largest liquid fuel furnace burner supplier to Singapore, with a X% share of total imports. Moreover, liquid fuel furnace burner imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by Japan (X units), with a X% share.

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

In value terms, the UK ($X) constituted the largest supplier of furnace burners for liquid fuel to Singapore, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with an X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average liquid fuel furnace burner import price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per unit) and Malaysia ($X per unit), while the price for Japan ($X per unit) and the UK ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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