In 2021, the Singaporean market for pulley tackle and hoists powered by an electric motor decreased by -X% to $X, falling for the third consecutive year after three years of growth. Overall, consumption showed a deep reduction. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.
In value terms, production of pulley tackle and hoists powered by an electric motor stood at $X in 2021 estimated in export price. In general, production posted significant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.
In 2021, overseas shipments of electric motor-driven pulley tackle and hoists will increase by X% to X units for the first time since 2018, thus ending a two-year decline. Overall, however, exports continued to show signs of a sudden decline. During the period under review, the export volume in 2012 hit a record high for Taiwan X; however, from 2013 to 2021, the export figures were slightly lower.
In value terms, exports of electric motor driven pulley tackle and hoists to surge to $X in 2021. However, exports continued to show a deep decline during the reporting period. Exports peaked at $X in 2012; however, exports failed to regain momentum from 2013 to 2021.
The United States (X Units) is the main destination for Singapore Electric Pulleys and Lifts exports, accounting for X% of the total exports. In addition, exports of electric motor-driven pulley tackle and hoists to the U.S. outnumbered those sent to the second major destination, China (Taiwan X), by ten times.
From 2012 to 2021, sales to the US will grow at an average annual rate of +X%. The average annual growth rate of exports to other major destinations is as follows: China (+X%) and Indonesia (-X% per year).
The United States ($X), China ($X), and Indonesia ($X) constitute the largest markets for global Electric Motor Driven Pulley Tackles and Cranes exported from Singapore by value, accounting for X% of total exports. Among the major destination countries, China recorded the highest export value growth rate during the review period with a CAGR of +X%, while shipments to other major countries experienced a mixed trend pattern.
In 2021, Singapore imported about X units of electric motor driven pulley tackle and hoists; a jump of X% compared to 2020. Overall, however, imports have fallen sharply. Import volumes peaked at Unit X in 2012; however, imports failed to regain momentum from 2013 to 2021. Imports of electric motor driven pulley tackle and hoists soared to $X in 2021 by value. However, imports continued to show a sudden contraction during the reporting period. The most prominent growth rate was 2014, when imports increased by X%. During the period under review, import volumes reached an all-time high of $X in 2012; however, imports failed to regain momentum from 2013 to 2021.
In 2021, China (X units) is the largest supplier of Electric Pulley Spreaders and Lifts to Singapore, accounting for X% of total imports. In addition, imports of electric motor-driven pulley tackle and hoists from China were three times higher than the number of the next largest supplier, Germany (Taiwan X). The third place in this ranking is Japan (X units) with X%.
From 2012 to 2021, the average annual growth rate of sales volume from China is -X%. The average annual growth rate of imports for the remaining supplying countries is as follows: Germany (-X% per annum) and Japan (-X% per annum).
China ($X) is the largest supplier of Electric Pulley Spreaders and Lifts to Singapore by value, accounting for X% of total imports. In second place is Germany ($X), accounting for X% of total imports. This is followed by Malaysia with an X% share.
From 2012 to 2021, the value from China will grow at an average annual rate of -X%. The average annual growth rate of imports for the remaining suppliers is as follows: Germany (-X% per annum) and Malaysia (+X%).
In value terms, China constituted the largest supplier of pulley tackle and hoists powered by an electric motor to Singapore, comprising 33% of total imports. The second position in the ranking was taken by Germany, with a 16% share of total imports. It was followed by Malaysia, with a 9.3% share.
In value terms, the United States, China and Indonesia appeared to be the largest markets for pulley tackle and hoists powered by an electric motor exported from Singapore worldwide, with a combined 80% share of total exports.
In 2021, the average export price for pulley tackle and hoists powered by an electric motor amounted to $324 per unit, which is down by -47.1% against the previous year.
In 2021, the average import price for pulley tackle and hoists powered by an electric motor amounted to $406 per unit, declining by -15.8% against the previous year.
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