Singapore: Lifting Equipment Market 2024

Lifting Equipment Market Size in Singapore

The Singaporean lifting equipment market shrank to $X in 2022, falling by X% against the previous year. Over the period under review, consumption showed strong growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Lifting Equipment Production in Singapore

In value terms, lifting equipment production dropped sharply to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable downturn. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Lifting equipment production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Lifting Equipment Exports

Exports from Singapore

In 2022, exports of lifting equipment from Singapore rose significantly to X units, picking up by X% on the previous year's figure. Over the period under review, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, lifting equipment exports soared to $X in 2022. In general, exports, however, faced a abrupt decrease. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea (X units), Indonesia (X units) and the UK (X units) were the main destinations of lifting equipment exports from Singapore, together accounting for X% of total exports.

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

In value terms, South Korea ($X) emerged as the key foreign market for lifting equipment exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea amounted to 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).

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the export price posted a moderate increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to the UK ($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 Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Singapore

In 2022, approx. X units of lifting equipment were imported into Singapore; rising by X% compared with 2021 figures. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, lifting equipment imports dropped modestly to $X in 2022. In general, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest lifting equipment supplier to Singapore, with a X% share of total imports. Moreover, lifting equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Indonesia (X units), with a X% share.

From 2012 to 2022, 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: the United States (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of lifting equipment to Singapore, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and the UK (X% per year).

Import Prices by Country

The average lifting equipment import price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :