ASEAN: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in ASEAN

The ASEAN balancing mechanical parts machine market fell to $X in 2021, declining by -8.9% against the previous year. In general, consumption, however, recorded a deep slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Machines For Balancing Mechanical Parts in ASEAN

In value terms, balancing mechanical parts machine production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2014 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in ASEAN

Balancing mechanical parts machine exports soared to X units in 2021, picking up by 124% compared with the year before. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 171% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, balancing mechanical parts machine exports soared to $X in 2021. Over the period under review, exports enjoyed a strong expansion. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand was the key exporter of machines for balancing mechanical parts in ASEAN, with the volume of exports accounting for X units, which was near 64% of total exports in 2021. Singapore (X units) took the second position in the ranking, followed by Malaysia (X units). All these countries together held approx. 33% share of total exports. The Philippines (X units) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +18.3% from 2012 to 2021. At the same time, the Philippines (+40.8%), Singapore (+17.3%) and Malaysia (+16.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +40.8% from 2012-2021. From 2012 to 2021, the share of Thailand and the Philippines increased by +8.6 and +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest balancing mechanical parts machine supplier in ASEAN, comprising 52% of total exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total exports. It was followed by Singapore, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand amounted to +11.1%. In the other countries, the average annual rates were as follows: Malaysia (+3.2% per year) and Singapore (+5.8% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, dropping by -13.5% against the previous year. In general, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 an increase of 27% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-6.1%), while the other leaders experienced a decline in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in ASEAN

In 2021, supplies from abroad of machines for balancing mechanical parts increased by 15% to X units, rising for the second consecutive year after two years of decline. Total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.9% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 31% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, balancing mechanical parts machine imports dropped to $X in 2021. In general, imports, however, faced a deep contraction. The pace of growth was the most pronounced in 2015 when imports increased by 27%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units) and Vietnam (X units) represented roughly 64% of total imports in 2021. Indonesia (X units) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (11%). The following importers - the Philippines (X units) and Malaysia (X units) - each accounted for a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +34.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constitutes the largest market for imported machines for balancing mechanical parts in ASEAN, comprising 47% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total imports. It was followed by Indonesia, with a 12% share.

In Thailand, balancing mechanical parts machine imports shrank by an average annual rate of -15.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (-2.2% per year) and Indonesia (-9.3% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, falling by -21.3% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2019 an increase of 14%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform