Singapore: Spark Plug Market 2024

Spark Plug Market Size in Singapore

The Singaporean spark plug market rose remarkably to $X in 2022, increasing by X% against the previous year. Overall, consumption continues to indicate a prominent expansion. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Spark Plug Production in Singapore

In value terms, spark plug production stood at $X in 2022 estimated in export price. In general, production, however, faced a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Spark plug production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Spark Plug Exports

Exports from Singapore

In 2022, approx. X units of sparking plugs were exported from Singapore; surging by X% against 2021 figures. Over the period under review, exports, however, continue to indicate a abrupt downturn. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, spark plug exports reduced to $X in 2022. Overall, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X units), Malaysia (X units) and Oman (X units) were the main destinations of spark plug exports from Singapore, with a combined X% share of total exports. The United Arab Emirates, Indonesia, Thailand, China, Bahrain, Sri Lanka, Cambodia, Vietnam, Myanmar and Saudi Arabia lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), Kuwait ($X) and Malaysia ($X) appeared to be the largest markets for spark plug exported from Singapore worldwide, together comprising X% of total exports. Indonesia, Thailand, the United Arab Emirates, Oman, Myanmar, Vietnam, Cambodia, Bahrain, Saudi Arabia and Sri Lanka lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spark plug export price stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 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 China ($X per unit), while the average price for exports to Sri Lanka ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spark Plug Imports

Imports into Singapore

In 2022, supplies from abroad of sparking plugs increased by X% to X units, rising for the second year in a row after three years of decline. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, spark plug imports rose slightly to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), Indonesia (X units) and Germany (X units) were the main suppliers of spark plug imports to Singapore, together accounting for X% of total imports.

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

In value terms, Japan ($X), the United States ($X) and Germany ($X) were the largest spark plug suppliers to Singapore, with a combined X% share of total imports. Indonesia, Malaysia and China lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 spark plug import price amounted to $X per unit, reducing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 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 United States ($X per unit), while the price for Indonesia ($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