Singapore: Market for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps 2022

Market Size for Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Singapore

In 2021, the Singaporean market for hydraulic pumps (gear or vane) and other rotary positive displacement pumps decreased by -13.5% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a abrupt setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps in Singapore

In value terms, production of hydraulic pumps (gear or vane) and other rotary positive displacement pumps reduced sharply to $X in 2021 estimated in export price. Overall, production faced a dramatic decline. The growth pace was the most rapid in 2020 with an increase of 57% against the previous year. Over the period under review, production of reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Exports from Singapore

In 2021, shipments abroad of hydraulic pumps (gear or vane) and other rotary positive displacement pumps was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a tangible expansion. The growth pace was the most rapid in 2013 with an increase of 171%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps surged to $X in 2021. In general, exports saw a slight increase. The pace of growth was the most pronounced in 2016 when exports increased by 215% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units) was the main destination for exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from Singapore, with a 65% share of total exports. Moreover, exports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps to Japan exceeded the volume sent to the second major destination, Thailand (X units), more than tenfold. Australia (X units) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+13.4% per year) and Australia (+15.6% per year).

In value terms, Japan ($X) remains the key foreign market for hydraulic pump (gear or vane) and other rotary positive displacement pump exports from Singapore, comprising 29% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Indonesia, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled +33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+21.2% per year) and Indonesia (-12.7% per year).

Export Prices by Country

In 2021, the average export price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps amounted to $X per unit, rising by 15% against the previous year. In general, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2016 an increase of 45%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Pumps (Gear or Vane) and other Rotary Positive Displacement Pumps

Imports into Singapore

In 2021, after four years of decline, there was growth in supplies from abroad of hydraulic pumps (gear or vane) and other rotary positive displacement pumps, when their volume increased by 2.8% to X units. Overall, imports, however, saw a deep setback. The growth pace was the most rapid in 2015 when imports increased by 431% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps expanded slightly to $X in 2021. In general, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 96% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest hydraulic pump (gear or vane) and other rotary positive displacement pump supplier to Singapore, accounting for a 57% share of total imports. Moreover, imports of hydraulic pumps (gear or vane) and other rotary positive displacement pumps from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was held by Italy (X units), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-15.8% per year) and Italy (+1.7% per year).

In value terms, the United States ($X), Germany ($X) and China ($X) appeared to be the largest hydraulic pump (gear or vane) and other rotary positive displacement pump suppliers to Singapore, together comprising 60% of total imports. Japan, Italy, Thailand and the United Arab Emirates lagged somewhat behind, together accounting for a further 8.7%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +86.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for hydraulic pumps (gear or vane) and other rotary positive displacement pumps amounted to $X per unit, leveling off at the previous year. In general, the import price showed a pronounced increase. The pace of growth appeared the most rapid in 2014 an increase of 162% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+38.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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