Singapore: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Singapore

The Singaporean market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2023, with an increase of X% against the previous year. Overall, consumption enjoyed a strong increase. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in the near future.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Singapore

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a modest expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Singapore

In 2023, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Singapore contracted sharply to X units, which is down by X% on the year before. Over the period under review, exports showed a deep reduction. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X units in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell significantly to $X in 2023. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Malaysia (X units) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Singapore, accounting for a X% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Malaysia exceeded the volume sent to the second major destination, the Philippines (X units), threefold. Indonesia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Indonesia (X% per year).

In value terms, Malaysia ($X), Indonesia ($X) and the Philippines ($X) appeared to be the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Singapore worldwide, together comprising X% of total exports. Myanmar, Israel, Vietnam, the United States and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the United States, 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 export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per unit in 2023, rising by X% against the previous year. Overall, the export price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, 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 Indonesia ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Singapore

In 2023, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into Singapore expanded notably to X units, picking up by X% on 2022. Overall, imports posted a prominent increase. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked in 2023 and are likely to see steady growth in the near future.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2023. Over the period under review, imports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Japan (X units) constituted the largest supplier of internal combustion engine (excl. diesel, moto vehicle and aircraft) to Singapore, accounting for a X% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Hong Kong SAR (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Hong Kong SAR (X% per year).

In value terms, the United States ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Singapore, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Japan (X% per year).

Import Prices by Country

In 2023, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2015 to 2023, the average import prices remained 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 ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2023, 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