ASEAN: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in ASEAN

The ASEAN fuel or lubricating pump market contracted to $X in 2021, dropping by -12.9% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +52.3% against 2019 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in ASEAN

In value terms, fuel or lubricating pump production dropped sharply to $X in 2021 estimated in export price. Overall, production, however, showed a strong expansion. The growth pace was the most rapid in 2020 when the production volume increased by 113% against the previous year. As a result, production attained the peak level of $X, and then shrank remarkably in the following year.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports in ASEAN

In 2021, overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines decreased by -5% to X units, falling for the fourth year in a row after six years of growth. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 44% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, fuel or lubricating pump exports surged to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +21.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the key exporter of fuel, lubricating or cooling-medium pumps for internal combustion engines in ASEAN, with the volume of exports resulting at X units, which was approx. 63% of total exports in 2021. Vietnam (X units) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (15%). Singapore (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fuel or lubricating pump exports from Thailand stood at -3.2%. At the same time, Vietnam (+62.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +62.0% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-2.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +19 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest fuel or lubricating pump supplier in ASEAN, comprising 69% of total exports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total exports. It was followed by Vietnam, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +8.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+4.3% per year) and Vietnam (+61.7% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, surging by 25% against the previous year. Overall, the export price posted prominent growth. The growth pace was the most rapid in 2020 an increase of 66%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 Thailand (+11.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports in ASEAN

In 2021, overseas purchases of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 34% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a perceptible contraction. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, fuel or lubricating pump imports soared to $X in 2021. In general, imports, however, saw a slight decline. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X units) represented the major importer of fuel, lubricating or cooling-medium pumps for internal combustion engines, making up 58% of total imports. Thailand (X units) ranks second in terms of the total imports with a 24% share, followed by Vietnam (8.5%) and Malaysia (8.2%).

From 2012 to 2021, average annual rates of growth with regard to fuel or lubricating pump imports into Indonesia stood at -5.9%. At the same time, Vietnam (+6.3%) and Malaysia (+4.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +6.3% from 2012-2021. By contrast, Thailand (-5.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and Malaysia increased by +5.4 and +4.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fuel or lubricating pump importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Malaysia ($X), together comprising 71% of total imports. Vietnam lagged somewhat behind, comprising a further 7.9%.

Among the main importing countries, Vietnam, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, with a decrease of -1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2020 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per unit, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform