ASEAN: Bulldozer Market 2024

Bulldozer Market Size in ASEAN

In 2022, the ASEAN bulldozer market increased by 27% to $X, rising for the second consecutive year after two years of decline. In general, consumption enjoyed a noticeable expansion. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Bulldozer Production in ASEAN

In value terms, bulldozer production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 35%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Bulldozer Exports

Exports in ASEAN

In 2022, exports of bulldozers and angle dozers in ASEAN fell remarkably to X units, waning by -48.9% against the previous year's figure. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 368%. As a result, the exports attained the peak of X units, and then contracted markedly in the following year.

In value terms, bulldozer exports skyrocketed to $X in 2022. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2014 with an increase of 89%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Thailand represented the largest exporting country with an export of about X units, which accounted for 48% of total exports. Myanmar (X units) ranks second in terms of the total exports with a 25% share, followed by Singapore (19%). Malaysia (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Myanmar (with a CAGR of +72.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X) remains the largest bulldozer supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was held by Singapore ($X), with a 3.2% share of total exports. It was followed by Indonesia, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to +41.2%. In the other countries, the average annual rates were as follows: Singapore (-14.7% per year) and Indonesia (-15.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, with an increase of 161% against the previous year. In general, the export price recorded a buoyant increase. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.5%), while the other leaders experienced more modest paces of growth.

Bulldozer Imports

Imports in ASEAN

In 2022, overseas purchases of bulldozers and angle dozers increased by 83% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 199%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, bulldozer imports surged to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia represented the major importer of bulldozers and angle dozers in ASEAN, with the volume of imports recording X units, which was approx. 66% of total imports in 2022. It was distantly followed by the Philippines (X units), comprising a 17% share of total imports. Thailand (X units), Cambodia (X units), Vietnam (X units), Singapore (X units) and Malaysia (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bulldozer imports into Indonesia stood at +1.2%. At the same time, Thailand (+10.3%), Cambodia (+3.9%) and the Philippines (+2.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +10.3% from 2012-2022. By contrast, Vietnam (-1.6%), Singapore (-12.0%) and Malaysia (-15.3%) illustrated a downward trend over the same period. Indonesia (+8.9 p.p.), the Philippines (+4.7 p.p.) and Thailand (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Malaysia saw its share reduced by -4.9% and -7.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported bulldozers and angle dozers in ASEAN, comprising 78% of total imports. The second position in the ranking was taken by the Philippines ($X), with an 11% share of total imports. It was followed by Vietnam, with a 3% share.

In Indonesia, bulldozer imports expanded at an average annual rate of +1.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+1.9% per year) and Vietnam (-1.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, growing by 21% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 317% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform