Singapore: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Singapore

The Singaporean self-propelled boring machinery market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption enjoyed a pronounced increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Self-Propelled Boring Machinery Production in Singapore

In value terms, self-propelled boring machinery production totaled less than $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern.

Self-Propelled Boring Machinery Exports

Exports from Singapore

In 2022, overseas shipments of self-propelled boring or sinking machinery increased by X% to X units, rising for the third year in a row after five years of decline. In general, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, self-propelled boring machinery exports soared to $X in 2022. Over the period under review, exports posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X units) was the main destination for self-propelled boring machinery exports from Singapore, accounting for a X% share of total exports. Moreover, self-propelled boring machinery exports to Saudi Arabia exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. Malaysia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia 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).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for self-propelled boring or sinking machinery exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($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 Saudi Arabia 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).

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, declining by X% against the previous year. In general, the export price saw a noticeable decrease. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to South Korea ($X per unit) and Indonesia ($X per unit), while the average price for exports to Australia ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced a decline.

Self-Propelled Boring Machinery Imports

Imports into Singapore

Self-propelled boring machinery imports into Singapore shrank significantly to X units in 2022, falling by X% on the year before. Over the period under review, imports saw a slight setback. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, self-propelled boring machinery imports reduced notably to $X in 2022. In general, imports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest self-propelled boring machinery supplier to Singapore, accounting for a X% share of total imports. Moreover, self-propelled boring machinery imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Canada (X units), with an 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: Germany (X% per year) and Canada (X% per year).

In value terms, China ($X) constituted the largest supplier of self-propelled boring or sinking machinery to Singapore, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Canada, with a X% share.

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

Import Prices by Country

In 2022, the average self-propelled boring machinery import price amounted to $X per unit, approximately equating the previous year. Over the period under review, the import price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Norway ($X per unit) and Germany ($X per unit), while the price for Austria ($X per unit) and South Korea ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform