ASEAN: Timer Market 2025

Timer Market Size in ASEAN

The ASEAN timer market dropped to $X in 2022, which is down by -6.6% against the previous year. Over the period under review, consumption saw a abrupt curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Timer Production in ASEAN

In value terms, timer production dropped to $X in 2022 estimated in export price. In general, production saw a abrupt decline. The pace of growth was the most pronounced in 2018 when the production volume increased by 57%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Timer Exports

Exports in ASEAN

In 2022, overseas shipments of timers increased by 6.6% to X units for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -39.3% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 31% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, timer exports rose to $X in 2022. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 76%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Indonesia (X units) represented the main exporter of timers, constituting 70% of total exports. Thailand (X units) took the second position in the ranking, distantly followed by Singapore (X units). All these countries together held near 27% share of total exports. Malaysia (X units) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the timers exports, with a CAGR of +19.3% from 2012 to 2022. Thailand (-2.1%), Malaysia (-14.6%) and Singapore (-17.1%) illustrated a downward trend over the same period. Indonesia (+56 p.p.) significantly strengthened its position in terms of the total exports, while Thailand, Malaysia and Singapore saw its share reduced by -9%, -11.8% and -35% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) remains the largest timer supplier in ASEAN, comprising 85% of total exports. The second position in the ranking was held by Thailand ($X), with a 13% share of total exports. It was followed by Singapore, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia stood at +22.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-2.8% per year) and Singapore (-16.2% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, shrinking by -3.4% against the previous year. Overall, the export price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 47%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then shrank modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Timer Imports

Imports in ASEAN

After two years of decline, overseas purchases of timers increased by 24% to X units in 2022. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, timer imports skyrocketed to $X in 2022. Overall, imports enjoyed a measured expansion. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Singapore (X units), distantly followed by Vietnam (X units), Thailand (X units), the Philippines (X units) and Indonesia (X units) were the major importers of timers, together committing 96% of total imports. Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, with a combined 77% share of total imports.

Vietnam, with a CAGR of +18.9%, saw the highest growth rate of the value of imports, in terms of 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 2022, falling by -6.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 45%. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform