상품DB/싱가포르 밸브 액추에이터 시장동향

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제목

싱가포르 밸브 액추에이터 시장동향

게시일

2015-09-04

국가

싱가포르

작성자

sea pei zhi sophie(싱가포르무역관)

품목

부분품

품목코드

848190

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1. Market Overview

□ Market Size

 ○ In 2014, Singapore Valve Actuator market size has decreased by 6% to US$ 490 million compared to the previous year.

  - Main importing countries are United States, China, Malaysia and Germany.

Valve Actuator Market Size and Growth

                                                                                                            (Unit: 천 달러, %)

Source: IE Singapore, Singapore Trade Statistics

□ Market Trend and Outlook

 ○ TechNavio’s analysts forecast the Global Industrial Valves and Actuators market to grow at a CAGR of 5.06% over the period 2014~2018.

 ○ According to “Global Industrial Valve and Actuator Market 2014~2018” report, one of the major drivers in the market is increased demand from the Oil and Gas industry.

○ Factors that will increase demand

  - Increased investment in construction and gas projects in Singapore.

○ Factors that will decrease demand

  - Drastic drop in oil price and reduced oil exploration projects worldwide.

□ Major Customers and Purchasing Pattern

 ○ Main buyers are distributors and stockists for projects in marine, oil & gas, waste water treatment, manufacturing, power plant and petrochemical sectors.

 ○ However, end-users usually specify a particular established brand and country of origin for each project.

 ○ Generally, they prefer to use long established brands from US or Europe, especially for the higher end projects such as those in petrochemical industries.

□ Import Trend

 ○ Import of valve actuator has seen a general decrease of 6% in 2014.

 ○ Notably, import from the more developed countries (United States, Germany & UK) where the most established valve actuator brands are from have decreased (-1%, -14% and -43% respectively)

 ○ Import from China, Malaysia and India have increased (4%, 8% and 9% respectively)

 ○ This represents one of the major challenges where low cost valves and actuators from developing countries become more available.

 ○ Feedbacks gathered from market trade sources mention that, unlike in the past, the design of China-origin valves and actuators are no longer sub-standard in quality and now cover a wide range of design to support different pressure, temperature, conditions and sizes.

Top10 importing countries (HS code 848190)

Source: IE Singapore, Singapore Trade Statistics

Source: IE Singapore, Singapore Trade Statistics

2. Import Regulations, Customs and Distribution

□ Regulation(Licence, etc.)

 ○ There is no specific regulation or licence imposed on the import of Valve Actuators in Singapore.

□ Customs

 ○ There is no duty/tariff imposed on the import of Valve Actuators in Singapore.

 ○ 7% of Goods and Service Tax(GST) is levied on all transactions. GST is calculated on CIF(Cost, Insurance, Freights) value of the goods, plus commission, and other incidental charges. Goods that are re-exported are eligible for a GST refund from the government authority.

Product	Valve Actuator
HS Code	848190
Description	Parts of taps cocks valves & similar appliances for pipes boiler shells tanks vats or the like
Unit	Value
Duty Rate	0%
Goods & Services Tax	7%

Source: Singapore Customs

□ Major Distribution Channel

 ○ The established distribution channel typically involves a distributor who is tasked with the marketing, sales and after-sales service responsibilities in the market. The market covers various industries including marine, oil & gas, waste water treatment, manufacturing, power plant and petrochemical.

 ○ The distributorship arrangement is the most efficient access to Singapore and the designated distributor is expected to be responsible for local market development.

 ○ By nature of Singapore’s small domestic market, distributors have a tendency to seek distribution right of regional markets as well.

 ○ It is possible to supply to end user directly but it’s not so common.

3. Competition Trend

□ Major players(products)

Main Competing Brands

Manufacturer	Brand	Country
Rotork Plc	Rotork	UK
Emerson Process Management	Bettis	US
Armaturen-Und Maschinen-Antriebe	AUMA	Germany
Emerson Process Management	EIM	US

□ Korean products’ Market Share and Popularity

 ○ End-users generally prefer internationally established brands from the US or Europe and will specify them for projects.

 ○ Buyers usually have a favorable impression on Korean products and are willing to explore their products further.

4. Useful information for Marketing Activity

□ Exhibitions

	Exhibition Name	Sea Asia 2015
	Exhibit Profile	Products and services in Maritime and Offshore industries
	Host Country / Frequency	Singapore / Biennial
	Size (Exhibitors)	• 426 exhibiting companies and 8 country Pavilions • 16,185 trade and professional visitors from 85 countries
	Period	21 Apr 2015 – 23 Apr 2015
	Website	www.sea-sia.com
	Exhibition Name	APM 2016
	Exhibit Profile	Products and services in Maritime and Offshore industries
	Host Country / Frequency	Singapore / Biennial
	Size (Exhibitors)	• 1,515 exhibiting companies and 16 country Pavilions • 14,329 trade and professional visitors from 64 countries
	Period	16 Mar 2016 – 18 Mar 2016
	Website	www.apmaritime.com
	Exhibition Name	OSEA 2016
	Exhibit Profile	Products and services in Oil & Gas industry
	Host Country / Frequency	Singapore / Biennial
	Size (Exhibitors)	• 1,500 exhibiting companies & 19 country Pavilions • 18,400 trade and professional visitors from 65 countries
	Period	29 Nov 2016 – 2 Dec 2016
	Website	osea-asia.com

□ Buyers’ Characteristics and Things to Note

 ○ Buyer is most concerned about brand establishment and proven reliability of product.

 ○ The leading US and European brands have long established their brands in Singapore and have their own branch office to provide competitive pricing.

 ○ Buyers are price sensitive when considering a new brand in Singapore, other than expecting reasonably good quality of product as it must provide enough economic value for them to switch from already-established brand that they have been using.

 ○ Buying quantity for initial orders is usually low.

□ Marketing Strategy and Target Customers

 ○ To help Singapore buyer to assess new Korean brand for distribution or projects, the product quality needs to be consistent. Supplier’s capability for customization would be needed, too.

 ○ Recommended strategy is to appoint a local distributor to do marketing activities and establish a brand presence. This is to build confidence among end-users and may take a few years.

 ○ Allow distributor to do marketing and export product to neighboring countries.