ASEAN: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in ASEAN

The ASEAN machine-tool for working metal market dropped slightly to $X in 2021, shrinking by -2.2% against the previous year. Overall, consumption, however, saw a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Machine Tools For Working Metal in ASEAN

In value terms, machine-tool for working metal production shrank to $X in 2021 estimated in export price. Overall, production saw a buoyant increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 207% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Exports of Machine Tools For Working Metal

Exports in ASEAN

In 2021, overseas shipments of machine tools for working metal increased by 64% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. Total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Malaysia (X units) represented the major exporter of machine tools for working metal, mixing up 51% of total exports. Singapore (X units) held the second position in the ranking, distantly followed by Vietnam (X units) and Thailand (X units). All these countries together held near 44% share of total exports. The Philippines (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Philippines (with a CAGR of +27.7%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest machine-tool for working metal supplier in ASEAN, comprising 60% of total exports. The second position in the ranking was held by Singapore ($X), with a 20% share of total exports. It was followed by Vietnam, with a 9.4% share.

In Malaysia, machine-tool for working metal exports expanded at an average annual rate of +5.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-0.2% per year) and Vietnam (+2.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, increasing by 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2018 when the export price increased by 17%. Over the period under review, the export prices attained 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 Thailand ($X per unit), while the Philippines ($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 (+9.0%), while the other leaders experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports in ASEAN

Machine-tool for working metal imports skyrocketed to X units in 2021, growing by 20% compared with the previous year. In general, imports, however, recorded a abrupt decline. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports stood at $X in 2021. Over the period under review, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by 13% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Thailand represented the largest importing country with an import of about X units, which recorded 54% of total imports. Malaysia (X units) ranks second in terms of the total imports with a 16% share, followed by Singapore (10%), Indonesia (9%) and Vietnam (6.3%). The Philippines (X units) took a relatively small share of total imports.

Imports into Thailand decreased at an average annual rate of -4.2% from 2012 to 2021. At the same time, Singapore (+13.6%) and the Philippines (+6.2%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +13.6% from 2012-2021. Malaysia experienced a relatively flat trend pattern. By contrast, Vietnam (-15.6%) and Indonesia (-20.9%) illustrated a downward trend over the same period. Thailand (+15 p.p.), Singapore (+8.7 p.p.), Malaysia (+8.4 p.p.) and the Philippines (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Indonesia saw its share reduced by -7.9% and -27.2% from 2012 to 2021, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 75% of total imports. Indonesia, the Philippines and Singapore lagged somewhat behind, together accounting for a further 22%.

Among the main importing countries, the Philippines, with a CAGR of +1.3%, 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

In 2021, the import price in ASEAN amounted to $X per unit, with a decrease of -14.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+19.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform