In recent years, forging plants in Singapore have maintained a high level of competitiveness in the market. The following are some data and cases that prove the strong competitiveness of forging plants in Singapore.
Firstly, according to data from the Institution of Mechanical Engineers Singapore, the revenue CAGR of the forging industry in Singapore was 2.4% from 2016 to 2020. Although this number is not very high, considering the competition in the forging market and the turbulence of the global economy, it is a relatively stable growth rate. Furthermore, it also indicates that Singaporean forging plants have robust business, excellent quality, and can maintain a certain market share.
Secondly, the quality control of forging plants in Singapore has been widely recognized. For example, Sin Hong Hardware Pte Ltd is a forging plant established in 1976 with strong advantages in supply chain and quality control. The company is one of the leaders in the CNC forging field and has obtained multiple international quality standards. The company has profound research and development capabilities in innovative areas such as drone circuit boards, planting mold correction plates, and 3D printing. This indicates that forging plants in Singapore have high competitiveness in technology.
In addition, forging plants in Singapore attach importance to environmental protection and are worth paying attention to in sustainable development. For example, Jepson Precision Engineering Pte Ltd is a forging plant established in 1971. As an environmentally conscious company, the company uses renewable energy for production and optimizes material transportation processes, significantly reducing the use of electricity, gas, and water. This initiative is not only friendly to the environment but also beneficial to its business model because more and more customers are looking for suppliers that meet environmental standards.
Overall, forging plants in Singapore have a high level of competitiveness, thanks to their outstanding performance in technology research and development, quality control, and environmental protection. These data and cases indicate that forging plants in Singapore perform well in the market and are expected to continue to maintain healthy growth in the future.
