Singapore: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in Singapore

For the third consecutive year, the Singaporean overhead travelling crane market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption continues to indicate a deep setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Overhead Travelling Crane Production in Singapore

In value terms, overhead travelling crane production shrank dramatically to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Overhead travelling crane production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Overhead Travelling Crane Exports

Exports from Singapore

In 2022, shipments abroad of overhead travelling cranes on fixed support was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, overhead travelling crane exports fell to $X in 2022. In general, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for overhead travelling crane exports from Singapore, with a X% share of total exports. Moreover, overhead travelling crane exports to Indonesia exceeded the volume sent to the second major destination, Thailand (X units), twofold. The third position in this ranking was taken by Brunei Darussalam (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Brunei Darussalam (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for overhead travelling cranes on fixed support exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average overhead travelling crane export price stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Japan ($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 Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Overhead Travelling Crane Imports

Imports into Singapore

In 2022, overseas purchases of overhead travelling cranes on fixed support decreased by X% to X units, falling for the second year in a row after two years of growth. In general, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, overhead travelling crane imports reduced modestly to $X in 2022. Over the period under review, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of overhead travelling crane to Singapore, with a X% share of total imports. Moreover, overhead travelling crane imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. Malaysia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Malaysia (X% per year).

In value terms, China ($X) constituted the largest supplier of overhead travelling cranes on fixed support to Singapore, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Malaysia, 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: South Korea (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average overhead travelling crane import price amounted to $X per unit, picking up by X% against the previous year. Overall, the import price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Malaysia ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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