ASEAN: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in ASEAN

The ASEAN self-propelled excavating machinery market skyrocketed to $X in 2021, increasing by 28% against the previous year. In general, consumption, however, continues to indicate a perceptible shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Self-Propelled Excavating Machinery Production in ASEAN

In value terms, self-propelled excavating machinery production shrank dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 9,981% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Self-Propelled Excavating Machinery Exports

Exports in ASEAN

In 2021, the amount of self-propelled earth moving, excavating machinery exported in ASEAN fell markedly to X units, which is down by -30.4% on the previous year's figure. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 3,509%. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, self-propelled excavating machinery exports reduced markedly to $X in 2021. Overall, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 195% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Thailand (X units), together finishing at 98% of total export.

Thailand was also the fastest-growing in terms of the self-propelled earth moving, excavating machinery exports, with a CAGR of +80.0% from 2012 to 2021. From 2012 to 2021, the share of Thailand increased by +90 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest self-propelled excavating machinery supplier in ASEAN.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled -13.3%.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, with an increase of 3.2% against the previous year. In general, the export price, however, continues to indicate a precipitous setback. The pace of growth was the most pronounced in 2017 an increase of 4,137%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Thailand amounted to -51.8% per year.

Self-Propelled Excavating Machinery Imports

Imports in ASEAN

In 2021, overseas purchases of self-propelled earth moving, excavating machinery decreased by -6.4% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 55%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports declined to $X in 2021. Overall, imports saw a deep slump. The growth pace was the most rapid in 2017 with an increase of 51% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Singapore represented the key importing country with an import of about X units, which amounted to 66% of total imports. Thailand (X units) took the second position in the ranking, followed by Indonesia (X units). All these countries together held near 25% share of total imports. Vietnam (X units) and Malaysia (X units) held a relatively small share of total imports.

Imports into Singapore increased at an average annual rate of +7.6% from 2012 to 2021. At the same time, Vietnam (+8.2%) and Thailand (+4.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +8.2% from 2012-2021. By contrast, Malaysia (-1.3%) and Indonesia (-26.2%) illustrated a downward trend over the same period. Singapore (+50 p.p.), Thailand (+10 p.p.) and Vietnam (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -64.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest self-propelled excavating machinery importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Vietnam ($X), together comprising 72% of total imports.

Thailand, with a CAGR of +12.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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, declining by -2.9% against the previous year. Over the period under review, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2015 an increase of 90% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 Indonesia (+9.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform