Singapore: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Exports

Exports from Singapore

After two years of decline, shipments abroad of industrial bakery machinery increased by 132% to X units in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 426% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial bakery machinery exports soared to $X in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 354%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units), Thailand (X units) and Hong Kong SAR (X units) were the main destinations of industrial bakery machinery exports from Singapore, together comprising 61% of total exports. These countries were followed by Australia, Malaysia, the Philippines, Cambodia and India, which together accounted for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +41.0%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Malaysia ($X) appeared to be the largest markets for industrial bakery machinery exported from Singapore worldwide, with a combined 54% share of total exports. Hong Kong SAR, Australia, Cambodia, the Philippines and India lagged somewhat behind, together accounting for a further 30%.

Cambodia, with a CAGR of +41.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average industrial bakery machinery export price amounted to $X per unit, with a decrease of -41.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 9.2% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Australia ($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 Cambodia (-0.9%), while the prices for the other major destinations experienced a decline.

Industrial Bakery Machinery Imports

Imports into Singapore

In 2022, industrial bakery machinery imports into Singapore skyrocketed to X units, growing by 19% on 2021. Overall, imports saw measured growth. The most prominent rate of growth was recorded in 2016 with an increase of 110% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, industrial bakery machinery imports soared to $X in 2022. In general, imports recorded a noticeable expansion. The pace of growth appeared the most rapid in 2016 with an increase of 114%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Malaysia (X units) were the main suppliers of industrial bakery machinery imports to Singapore, with a combined 55% share of total imports. France, Italy, Germany, Japan and the United States lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +13.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial bakery machinery suppliers to Singapore were Taiwan (Chinese) ($X), China ($X) and Malaysia ($X), with a combined 55% share of total imports. France, Italy, Germany, Japan and the United States lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Germany, with a CAGR of +13.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial bakery machinery import price stood at $X per unit in 2022, with an increase of 1.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 11% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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