The import of parts of domestic appliances with electric motors to Singapore is forecasted to decline steadily from 2024 to 2028: 5.3433 million USD in 2024, decreasing each year to 1.7379 million USD in 2028. This represents a significant negative trend.
- Year-on-year variations show: - 2024 to 2025: -17.42% - 2025 to 2026: -20.61% - 2026 to 2027: -25.48% - 2027 to 2028: -33.48%
- The compound annual growth rate (CAGR) from 2024 to 2028 is -23.36%, signaling a notable decline in the import volume over five years.
Future trends to watch for:
- Technological advancements could influence the need for component replacement.- Shifts in domestic appliance manufacturing or assembly practices may alter import demands.- Trade policies and economic factors may impact global supply chains.
