The import of air conditioning equipment and machinery to Singapore is forecasted to experience a gradual decline from 2024 onwards. In 2023, the actual import value stood at a higher level, and by 2028, it is anticipated to decrease steadily over the forecast period.
- Year-on-year variation for 2024 to 2025 is -0.13%.
- Year-on-year variation for 2025 to 2026 is -0.13%.
- Year-on-year variation for 2026 to 2027 is -0.12%.
- Year-on-year variation for 2027 to 2028 is -0.12%.
- The average CAGR over the last five years is -0.13%.
The consistent year-on-year decline suggests a trend of decreasing demand or possible improvements in local production or energy efficiency, affecting import needs. Future trends to watch for include technological advancements, changes in energy regulations, and the potential impact of climate change policies on air conditioning demand and supply chains.
