The import of generators and alternators to Singapore saw marked fluctuations over the past decade. Starting at 2.7269 million kilograms in 2013, the import value rose through the years to reach 7.3674 million kilograms in 2023. Actual data from 2020 to 2023 indicates a moderate yet steady rise in the import value, where 2021 saw a significant increase of 24.73%, followed by smaller increments of 3.33% in 2022 and 3.16% in 2023. Over the last five years, the compound annual growth rate (CAGR) stands at 5.31%, signaling a consistent upward trend in imports.
The forecasted data from 2024 to 2028 suggests a continued growth trajectory, with an expected CAGR of 2.34%. By 2028, the import value is predicted to reach 8.5471 million kilograms, representing a 12.23% growth over the forecasted five-year period.
Future trends to watch for include potential impacts of global supply chain disruptions, technological advancements in generator and alternator efficiency, and shifts in Singapore's energy infrastructure and policies, which may influence import levels and sourcing strategies.
