ASEAN: Engine Generator Market 2024

Engine Generator Market Size in ASEAN

The ASEAN engine generator market expanded markedly to $X in 2022, with an increase of 6.5% against the previous year. Overall, consumption, however, saw a abrupt curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Engine Generator Production in ASEAN

In value terms, engine generator production declined modestly to $X in 2022 estimated in export price. In general, production, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Engine Generator Exports

Exports in ASEAN

In 2022, shipments abroad of generators for internal combustion engines increased by 3.6% to X units, rising for the second year in a row after six years of decline. Over the period under review, exports, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 52%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, engine generator exports skyrocketed to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 55%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X units) was the main exporter of generators for internal combustion engines, creating 54% of total exports. Malaysia (X units) held the second position in the ranking, distantly followed by Singapore (X units). All these countries together took near 41% share of total exports. Indonesia (X units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +1.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Thailand ($X) remains the largest engine generator supplier in ASEAN, comprising 59% of total exports. The second position in the ranking was taken by Singapore ($X), with a 20% share of total exports. It was followed by Malaysia, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand stood at +2.0%. In the other countries, the average annual rates were as follows: Singapore (-1.5% per year) and Malaysia (-1.9% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2014 when the export price increased by 22%. Over the period under review, the export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Malaysia ($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 (+8.9%), while the other leaders experienced more modest paces of growth.

Engine Generator Imports

Imports in ASEAN

In 2022, supplies from abroad of generators for internal combustion engines increased by 15% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2016 when imports increased by 41%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, engine generator imports skyrocketed to $X in 2022. Overall, imports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2016 when imports increased by 38%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units) and Malaysia (X units) were the main importers of generators for internal combustion engines in 2022, finishing at near 43% and 30% of total imports, respectively. Singapore (X units) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (6.2%). Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +1.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest engine generator importing markets in ASEAN were Thailand ($X), Singapore ($X) and Indonesia ($X), with a combined 75% share of total imports. Malaysia and Vietnam lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Malaysia, with a CAGR of +2.6%, recorded the highest growth rate of 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 2022, increasing by 4.1% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 41% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform