Singapore: Market for Furnace Burners For Solid Fuel Or Gas 2024

Market Size for Furnace Burners For Solid Fuel Or Gas in Singapore

After four years of growth, the Singaporean solid fuel furnace burner market decreased by X% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Furnace Burners For Solid Fuel Or Gas in Singapore

In value terms, solid fuel furnace burner production rose modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports from Singapore

For the fourth consecutive year, Singapore recorded growth in overseas shipments of furnace burners for solid fuel or gas, which increased by X% to X units in 2022. Over the period under review, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, solid fuel furnace burner exports skyrocketed to $X in 2022. Overall, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X units) was the main destination for solid fuel furnace burner exports from Singapore, accounting for a X% share of total exports. Moreover, solid fuel furnace burner exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a X% share.

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

In value terms, Indonesia ($X) remains the key foreign market for furnace burners for solid fuel or gas exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

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

Export Prices by Country

The average solid fuel furnace burner export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per unit) and Indonesia ($X per unit), while the average price for exports to Germany ($X per unit) and the Philippines ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports into Singapore

In 2022, purchases abroad of furnace burners for solid fuel or gas increased by X% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, solid fuel furnace burner imports reduced to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X units), Germany (X units) and India (X units) were the main suppliers of solid fuel furnace burner imports to Singapore, together accounting for X% of total imports.

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

In value terms, Mexico ($X), Germany ($X) and India ($X) were the largest solid fuel furnace burner suppliers to Singapore, with a combined X% share of total imports.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average solid fuel furnace burner import price amounted to $X per unit, waning by X% against the previous year. Overall, the import price continues to indicate 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 2021, and then contracted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and Japan ($X per unit), while the price for Luxembourg ($X per unit) and the United States ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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