ASEAN: Public Works Machinery Market 2024

Public Works Machinery Market Size in ASEAN

In 2021, the ASEAN public works machinery market decreased by -10.5% to $X, falling for the fourth consecutive year after six years of growth. In general, consumption, however, enjoyed a strong expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Public Works Machinery Production in ASEAN

In value terms, public works machinery production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production recorded resilient growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 133% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Public Works Machinery Exports

Exports in ASEAN

Public works machinery exports soared to X units in 2021, jumping by 17% against 2020. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 109%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, public works machinery exports shrank sharply to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 75% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore prevails in exports structure, resulting at X units, which was approx. 87% of total exports in 2021. The following exporters - Malaysia (X units), Cambodia (X units), Indonesia (X units) and Vietnam (X units) - together made up 12% of total exports.

Exports from Singapore increased at an average annual rate of +16.9% from 2012 to 2021. At the same time, Cambodia (+48.4%), Indonesia (+27.9%) and Vietnam (+10.5%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +48.4% from 2012-2021. By contrast, Malaysia (-20.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore, Cambodia and Indonesia increased by +48, +3.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 83% share of total exports. Vietnam and Cambodia lagged somewhat behind, together comprising a further 13%.

Cambodia, with a CAGR of +32.6%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, which is down by -29.2% against the previous year. Over the period under review, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2016 when the export price increased by 122%. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, 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 ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+29.9%), while the other leaders experienced a decline in the export price figures.

Public Works Machinery Imports

Imports in ASEAN

In 2021, imports of machinery for public works and building in ASEAN reduced to X units, declining by -13.7% compared with 2020. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 145%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, public works machinery imports shrank to $X in 2021. In general, imports, however, continue to indicate a slight increase. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Singapore represented the main importing country with an import of around X units, which recorded 45% of total imports. Thailand (X units) took a 26% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (14%) and the Philippines (7.8%). The following importers - Indonesia (X units), Malaysia (X units) and Cambodia (X units) - each reached a 6.1% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +45.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest public works machinery importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Indonesia ($X), with a combined 75% share of total imports. These countries were followed by Vietnam, Singapore, Cambodia and the Philippines, which together accounted for a further 24%.

In terms of the main importing countries, Cambodia, with a CAGR of +12.2%, recorded the highest growth rate of 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 2021, the import price in ASEAN amounted to $X per unit, increasing by 4.3% against the previous year. In general, the import price, however, saw a deep downturn. The growth pace was the most rapid in 2018 an increase of 61%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform