Singapore: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Singapore

In 2022, the Singaporean stone polishing machine market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a perceptible decrease. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Stone Polishing Machine Production in Singapore

In value terms, stone polishing machine production shrank notably to $X in 2022 estimated in export price. Overall, production faced a dramatic downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

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Stone Polishing Machine Exports

Exports from Singapore

Stone polishing machine exports from Singapore shrank dramatically to X units in 2022, waning by X% compared with 2021. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, stone polishing machine exports reduced to $X in 2022. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for stone polishing machine exports from Singapore, accounting for a X% share of total exports. Moreover, stone polishing machine exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), twofold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Japan (X% per year).

In value terms, the largest markets for stone polishing machine exported from Singapore were Japan ($X), the United States ($X) and Malaysia ($X), together accounting for X% of total exports.

Japan, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average stone polishing machine export price stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the export price saw a remarkable increase. The pace of growth appeared the most rapid in 2020 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Indonesia ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into Singapore

In 2022, purchases abroad of grinding or polishing machines for working stone, ceramics and concrete decreased by X% to X units, falling for the third year in a row after two years of growth. In general, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, stone polishing machine imports dropped markedly to $X in 2022. Overall, imports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of stone polishing machine imports to Singapore, together comprising X% of total imports. Taiwan (Chinese) and Japan 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 Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Singapore, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

In 2022, the average stone polishing machine import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the United States ($X per unit) 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 a decline.

Source: IndexBox Platform