Singapore: Transmission Shaft Market 2024

Transmission Shaft Market Size in Singapore

In 2022, the Singaporean transmission shaft market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a perceptible reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Transmission Shaft Exports

Exports from Singapore

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exported from Singapore contracted to X tons, with a decrease of X% on the previous year's figure. Over the period under review, exports saw a slight reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports reached $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and the United States (X tons) were the main destinations of transmission shaft exports from Singapore, together comprising X% of total exports. Australia, Vietnam, China, Thailand, India, the Philippines, Hong Kong SAR, the United Arab Emirates, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), Indonesia ($X) and Malaysia ($X) were the largest markets for transmission shaft exported from Singapore worldwide, with a combined X% share of total exports. Australia, India, China, Thailand, the Philippines, Vietnam, Hong Kong SAR, the United Arab Emirates, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Transmission Shaft Imports

Imports into Singapore

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, transmission shaft imports surged to $X in 2022. Overall, imports, however, continue to indicate a mild downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of transmission shaft imports to Singapore, with a combined X% share of total imports. Germany, India, France, Italy, Poland, the UK, Taiwan (Chinese), South Korea and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain to Singapore, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

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

Import Prices by Country

In 2022, the average transmission shaft import price amounted to $X per ton, 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 pace of growth appeared the most rapid in 2016 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) 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 more modest paces of growth.

Source: IndexBox Platform

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