Key Market Indicators
Singapore is set to become a major player in the electrical equipment market. Imports of electrical equipment are expected to reach $118 billion by 2026, an increase of 1.8% annually since 2021. This is a significant increase since 1994, where imports grew an average of 4.7% each year. In 2021, Singapore ranked 4th in the world in terms of imports, with Germany leading the way at $106 billion. The United States, Germany and Singapore came in 2nd, 3rd and 4th respectively in this ranking. Exports of electrical equipment from Singapore are also projected to reach $151 billion by 2026, a rise of 1.7% annually since 2021. Since 1994, exports have grown at an average of 3.6% each year. In 2021, Singapore placed 5th in the world rankings, with Germany at the top with $136 billion. South Korea, the United States and Germany were 2nd, 3rd and 4th respectively.
Singapore Electrical Equipment Market Data and Forecasts
How much will Singapore Electrical Equipment Market grow to 2026?
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