ASEAN: Electric Locomotive Market 2024

Electric Locomotive Market Size in ASEAN

In 2021, the ASEAN electric locomotive market decreased by -24.6% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, enjoyed strong growth. The level of consumption peaked at $X in 2020, and then reduced sharply in the following year.

Electric Locomotive Production in ASEAN

In value terms, electric locomotive production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of 1,321% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Electric Locomotive Exports

Exports in ASEAN

Electric locomotive exports soared to X units in 2021, rising by 3,150% against the year before. In general, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric locomotive exports surged to $X in 2021. Overall, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 687%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Indonesia (X units) represented the main exporter of electric locomotives, committing 82% of total exports. It was distantly followed by Singapore (X units), generating a 14% share of total exports. Malaysia (X units) and Thailand (X units) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the electric locomotives exports, with a CAGR of +16.2% from 2012 to 2021. Malaysia and Thailand experienced a relatively flat trend pattern. Singapore (-14.3%) illustrated a downward trend over the same period. Indonesia (+82 p.p.) and Malaysia (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -83.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) emerged as the largest electric locomotive supplier in ASEAN, comprising 65% of total exports. The second position in the ranking was held by Malaysia ($X), with a 20% share of total exports. It was followed by Indonesia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at +2.5%. In the other countries, the average annual rates were as follows: Malaysia (+11.9% per year) and Indonesia (-25.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, with a decrease of -92.3% against the previous year. Over the period under review, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 235%. Over the period under review, the export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+38.7%), while the other leaders experienced mixed trends in the export price figures.

Electric Locomotive Imports

Imports in ASEAN

In 2021, overseas purchases of electric locomotives decreased by -20.3% to X units, falling for the second year in a row after two years of growth. In general, imports saw a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by 146% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, electric locomotive imports plummeted to $X in 2021. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 353% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Singapore represented the largest importing country with an import of about X units, which resulted at 56% of total imports. Indonesia (X units) held the second position in the ranking, distantly followed by Lao People's Democratic Republic (X units). All these countries together held approx. 42% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +67.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Singapore ($X) constitutes the largest market for imported electric locomotives in ASEAN, comprising 88% of total imports. The second position in the ranking was taken by Indonesia ($X), with an 8.5% share of total imports.

In Singapore, electric locomotive imports expanded at an average annual rate of +25.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+0.5% per year) and Lao People's Democratic Republic (+49.9% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, reducing by -1.8% against the previous year. Overall, the import price, however, saw a significant increase. The pace of growth appeared the most rapid in 2013 when the import price increased by 396% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+18.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform