Singapore: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Singapore

The Singaporean mechanical shovel and excavator market declined to $X in 2022, waning by X% against the previous year. Over the period under review, consumption recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. Mechanical shovel and excavator consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Singapore

In value terms, mechanical shovel and excavator production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Mechanical shovel and excavator production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Singapore

In 2022, overseas shipments of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the second year in a row after three years of decline. Overall, exports enjoyed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2022. In general, exports posted a moderate increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X units), the United States (X units) and China (X units) were the main destinations of mechanical shovel and excavator exports from Singapore, together comprising X% of total exports. Australia, Belgium, Malaysia, Thailand, South Africa, Vietnam and Myanmar lagged somewhat behind, together comprising a further X%.

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

In value terms, Indonesia ($X), Australia ($X) and the United States ($X) were the largest markets for mechanical shovel and excavator exported from Singapore worldwide, with a combined X% share of total exports. Belgium, South Africa, China, Malaysia, Thailand, Vietnam and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Belgium, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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 mechanical shovel and excavator export price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price showed a perceptible decrease. The growth pace was the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per unit), while the average price for exports to Thailand ($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 Vietnam (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Singapore

In 2022, supplies from abroad of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X units in 2012; afterwards, it flattened through to 2022.

In value terms, mechanical shovel and excavator imports surged to $X in 2022. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X units) constituted the largest mechanical shovel and excavator supplier to Singapore, accounting for a X% share of total imports. Moreover, mechanical shovel and excavator imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by Thailand (X units), with an X% share.

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

In value terms, Indonesia ($X) constituted the largest supplier of mechanical shovels, excavators and shovel loaders to Singapore, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by China, with an X% share.

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

Import Prices by Country

In 2022, the average mechanical shovel and excavator import price amounted to $X per unit, falling by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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