Singapore: Optical Telescope Market 2024

Optical Telescope Market Size in Singapore

The Singaporean optical telescope market soared to $X in 2022, jumping by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Optical Telescope Production in Singapore

In value terms, optical telescope production amounted to $X in 2022 estimated in export price. Overall, production showed a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Optical telescope production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Optical Telescope Exports

Exports from Singapore

In 2022, after five years of decline, there was significant growth in overseas shipments of optical telescopes, when their volume increased by X% to X units. Over the period under review, exports, however, recorded a abrupt slump. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, optical telescope exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a mild shrinkage. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belgium (X units), Indonesia (X units) and Malaysia (X units) were the main destinations of optical telescope exports from Singapore, together accounting for X% of total exports. The United States, South Korea and Germany lagged somewhat behind, together accounting for a further X%.

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, Indonesia ($X) remains the key foreign market for optical telescopes exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average optical telescope export price amounted to $X per unit, shrinking by X% against the previous year. In general, the export price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a 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 Indonesia ($X per unit), while the average price for exports to Belgium ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Optical Telescope Imports

Imports into Singapore

In 2022, overseas purchases of optical telescopes increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a pronounced curtailment. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, optical telescope imports soared to $X in 2022. Over the period under review, imports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest optical telescope supplier to Singapore, accounting for a X% share of total imports. Moreover, optical telescope imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), eightfold. The UK (X units) ranked third in terms of total imports with a X% share.

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

In value terms, the UK ($X), China ($X) and the United States ($X) constituted the largest optical telescope suppliers to Singapore, together accounting for X% of total imports. These countries were followed by Switzerland, which accounted for a further X%.

Switzerland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average optical telescope import price stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the import price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per unit in 2020; however, from 2021 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 the UK ($X per unit), while the price for Switzerland ($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

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