ASEAN: Loading Machinery Market 2024

Loading Machinery Market Size in ASEAN

In 2022, the ASEAN loading machinery market increased by 9.8% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +49.5% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Loading Machinery Production in ASEAN

In value terms, loading machinery production rose notably to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Loading Machinery Exports

Exports in ASEAN

In 2022, overseas shipments of lifting, handling, loading or unloading machinery increased by 45% to X units, rising for the second consecutive year after two years of decline. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 77% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, loading machinery exports surged to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 67% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Singapore represented the major exporter of lifting, handling, loading or unloading machinery in ASEAN, with the volume of exports amounting to X units, which was approx. 63% of total exports in 2022. Malaysia (X units) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (15%). Vietnam (X units) followed a long way behind the leaders.

Exports from Singapore increased at an average annual rate of +11.8% from 2012 to 2022. At the same time, Vietnam (+12.9%), Thailand (+4.7%) and Malaysia (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +12.9% from 2012-2022. From 2012 to 2022, the share of Singapore and Vietnam increased by +21 and +1.7 percentage points, respectively.

In value terms, Singapore ($X) remains the largest loading machinery supplier in ASEAN, comprising 63% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 21% share of total exports. It was followed by Thailand, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +12.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+2.5% per year) and Thailand (+0.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, shrinking by -5.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020; however, from 2021 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 Malaysia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Loading Machinery Imports

Imports in ASEAN

Loading machinery imports soared to X units in 2022, rising by 47% on 2021 figures. Overall, imports showed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, loading machinery imports surged to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +88.2% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand was the main importer of lifting, handling, loading or unloading machinery in ASEAN, with the volume of imports accounting for X units, which was near 59% of total imports in 2022. Singapore (X units) ranks second in terms of the total imports with a 16% share, followed by Indonesia (8.6%), Malaysia (7%) and Vietnam (4.8%). The Philippines (X units) took a little share of total imports.

Thailand was also the fastest-growing in terms of the lifting, handling, loading or unloading machinery imports, with a CAGR of +17.6% from 2012 to 2022. At the same time, Singapore (+12.2%), Malaysia (+10.9%), Vietnam (+10.6%), Indonesia (+2.3%) and the Philippines (+1.1%) displayed positive paces of growth. While the share of Thailand (+21 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (-6 p.p.) and Indonesia (-13.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest loading machinery importing markets in ASEAN were Thailand ($X), Singapore ($X) and Indonesia ($X), together comprising 75% of total imports.

Singapore, with a CAGR of +11.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, declining by -16.2% against the previous year. Over the period under review, the import price saw a pronounced setback. The most prominent rate of growth was recorded in 2018 when the import price increased by 8.4%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 the Philippines (+7.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform