Singapore: Market for Iron Or Steel Towers And Lattice Masts 2024

Market Size for Iron Or Steel Towers And Lattice Masts in Singapore

For the third consecutive year, the Singaporean iron or steel towers market recorded growth in sales value, which increased by X% to $X in 2023. Over the period under review, consumption showed a resilient increase. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Production of Iron Or Steel Towers And Lattice Masts in Singapore

In value terms, iron or steel towers production reached $X in 2023 estimated in export price. Over the period under review, production recorded a resilient expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

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Exports of Iron Or Steel Towers And Lattice Masts

Exports from Singapore

In 2023, after three years of decline, there was significant growth in overseas shipments of iron or steel towers and lattice masts, when their volume increased by X% to X tons. Over the period under review, exports showed prominent growth. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, iron or steel towers exports soared to $X in 2023. Overall, exports, however, continue to indicate a mild decline. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for iron or steel towers exports from Singapore, with a X% share of total exports. Moreover, iron or steel towers exports to Australia exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, Australia ($X) remains the key foreign market for iron or steel towers and lattice masts exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by India, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and India (X% per year).

Export Prices by Country

In 2023, the average iron or steel towers export price amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced a decline.

Imports of Iron Or Steel Towers And Lattice Masts

Imports into Singapore

Iron or steel towers imports into Singapore soared to X tons in 2023, with an increase of X% on the previous year. Overall, imports saw strong growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel towers imports surged to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest iron or steel towers supplier to Singapore, with a X% share of total imports. Moreover, iron or steel towers imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sevenfold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Malaysia (X% per year).

In value terms, Japan ($X), China ($X) and Indonesia ($X) constituted the largest iron or steel towers suppliers to Singapore, together comprising X% of total imports.

Japan, with a CAGR of X%, recorded 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

The average iron or steel towers import price stood at $X per ton in 2023, jumping by X% against the previous year. Overall, the import price, however, recorded a abrupt setback. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform