Singapore: Ship Propeller Market 2024

Ship Propeller Market Size in Singapore

The Singaporean ship propeller market dropped modestly to $X in 2022, standing approx. at the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Ship Propeller Production in Singapore

In value terms, ship propeller production declined to $X in 2022 estimated in export price. Overall, production, however, saw a moderate increase. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Ship Propeller Exports

Exports from Singapore

In 2022, shipments abroad of ships or boats propellers and blades therefor increased by X% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, saw a pronounced downturn. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Norway (X units) and China (X units) were the main destinations of ship propeller exports from Singapore, with a combined X% share of total exports. France, the UK, Brunei Darussalam and Oman lagged somewhat behind, together comprising 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 France (with a CAGR of X.7%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for ships or boats propellers and blades therefor exports from Singapore, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports. It was followed by the UK, 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: China (X% per year) and the UK (X% per year).

Export Prices by Country

The average ship propeller export price stood at $X per unit in 2022, almost unchanged from the previous year. Over the period under review, the export price saw a noticeable downturn. The pace of growth was the most pronounced 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per unit), while the average price for exports to Norway ($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 Brunei Darussalam (X%), while the prices for the other major destinations experienced a decline.

Ship Propeller Imports

Imports into Singapore

In 2022, imports of ships or boats propellers and blades therefor into Singapore surged to X units, with an increase of X% against the previous year. Overall, imports, however, showed a drastic downturn. 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, ship propeller imports surged to $X in 2022. In general, imports, however, saw a perceptible descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), China (X units) and Italy (X units) were the main suppliers of ship propeller imports to Singapore, together comprising X% of total imports.

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

In value terms, the largest ship propeller suppliers to Singapore were Germany ($X), Japan ($X) and China ($X), with a combined X% share of total imports. Italy, the Philippines, the United States, Norway, Malaysia, Spain, Belgium and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Italy, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ship propeller import price amounted to $X per unit, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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 Japan ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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