ASEAN: Starter Battery Market 2024

Starter Battery Market Size in ASEAN

The ASEAN starter battery market rose sharply to $X in 2022, increasing by 8.8% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +83.9% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Starter Battery Production in ASEAN

In value terms, starter battery production expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 18%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Starter Battery Exports

Exports in ASEAN

Starter battery exports declined slightly to X units in 2022, dropping by -2.8% compared with the previous year. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, starter battery exports totaled $X in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 28% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X units) and the Philippines (X units) represented the largest exporters of lead-acid accumulators for starting piston engines in 2022, finishing at near 37% and 33% of total exports, respectively. Vietnam (X units) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (9.7%) and Malaysia (6.3%). Singapore (X units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +9.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 74% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +10.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, picking up by 3.6% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 20%. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, 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 Indonesia ($X per unit), while the Philippines ($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 (+18.1%), while the other leaders experienced more modest paces of growth.

Starter Battery Imports

Imports in ASEAN

In 2022, the amount of lead-acid accumulators for starting piston engines imported in ASEAN surged to X units, increasing by 16% compared with 2021 figures. In general, imports showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 37%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, starter battery imports amounted to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.2% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 25%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Malaysia was the major importing country with an import of around X units, which accounted for 57% of total imports. Myanmar (X units) ranks second in terms of the total imports with a 13% share, followed by the Philippines (8.3%), Indonesia (6.5%), Thailand (6.3%) and Singapore (5.5%). Vietnam (X units) followed a long way behind the leaders.

Imports into Malaysia increased at an average annual rate of +16.9% from 2012 to 2022. At the same time, Myanmar (+44.1%), Indonesia (+13.3%), Thailand (+9.2%) and the Philippines (+7.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +44.1% from 2012-2022. Singapore and Vietnam experienced a relatively flat trend pattern. Malaysia (+16 p.p.) and Myanmar (+12 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Vietnam, the Philippines and Singapore saw its share reduced by -2.7%, -6.1%, -6.1% and -12.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest starter battery importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Thailand ($X), with a combined 64% share of total imports. Myanmar, Singapore, the Philippines and Vietnam lagged somewhat behind, together comprising a further 34%.

In terms of the main importing countries, Myanmar, with a CAGR of +28.4%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, which is down by -10.7% against the previous year. In general, the import price showed a deep reduction. The pace of growth was the most pronounced in 2019 when the import price increased by 6.8%. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Vietnam (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform