ASEAN: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in ASEAN

In 2021, the ASEAN railway maintenance vehicle market increased by 73% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Railway Maintenance Vehicle Production in ASEAN

In value terms, railway maintenance vehicle production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 43% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Railway Maintenance Vehicle Exports

Exports in ASEAN

Railway maintenance vehicle exports surged to X units in 2021, picking up by 88% on the previous year. Over the period under review, exports showed a temperate expansion. The pace of growth was the most pronounced in 2019 with an increase of 110% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, railway maintenance vehicle exports soared to $X in 2021. Overall, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore was the largest exporting country with an export of around X units, which recorded 58% of total exports. It was distantly followed by Malaysia (X units), Indonesia (X units) and Thailand (X units), together making up a 39% share of total exports. Vietnam (X units) held a relatively small share of total exports.

Exports from Singapore increased at an average annual rate of +37.9% from 2012 to 2021. At the same time, Vietnam (+100.0%) and Malaysia (+4.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +100.0% from 2012-2021. By contrast, Indonesia (-3.9%) and Thailand (-16.4%) illustrated a downward trend over the same period. Singapore (+53 p.p.) and Vietnam (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -13.1% and -42.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest railway maintenance vehicle supplier in ASEAN, comprising 82% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Vietnam, with a 4.7% share.

In Singapore, railway maintenance vehicle exports increased at an average annual rate of +25.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+25.5% per year) and Vietnam (+53.9% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, with an increase of 47% against the previous year. In general, the export price posted slight growth. The growth pace was the most rapid in 2013 an increase of 64%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 (+3,307.7%), while the other leaders experienced mixed trends in the export price figures.

Railway Maintenance Vehicle Imports

Imports in ASEAN

Railway maintenance vehicle imports soared to X units in 2021, picking up by 240% compared with the previous year. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 497% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, railway maintenance vehicle imports soared to $X in 2021. Overall, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Lao People's Democratic Republic was the key importing country with an import of around X units, which recorded 78% of total imports. Malaysia (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (4.7%) and the Philippines (4.6%).

Lao People's Democratic Republic was also the fastest-growing in terms of the railway or tramway maintenance or service vehicles imports, with a CAGR of +158.6% from 2012 to 2021. At the same time, Indonesia (+45.1%), Malaysia (+15.6%) and the Philippines (+4.6%) displayed positive paces of growth. From 2012 to 2021, the share of Lao People's Democratic Republic, the Philippines and Indonesia increased by +78, +4.6 and +3.3 percentage points, respectively.

In value terms, Malaysia ($X), Indonesia ($X) and Lao People's Democratic Republic ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 73% of total imports.

Lao People's Democratic Republic, with a CAGR of +91.9%, recorded the highest growth rate of the value of imports, among 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

The import price in ASEAN stood at $X per unit in 2021, falling by -21.1% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2014 an increase of 170% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a lower figure.

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 Indonesia ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+40.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform