ASEAN: Non-Propelled Vehicle Market 2024

Non-Propelled Vehicle Market Size in ASEAN

In 2021, the ASEAN non-propelled vehicle market increased by 11% to $X, rising for the fourth year in a row after four years of decline. The market value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the immediate term.

Non-Propelled Vehicle Production in ASEAN

In value terms, non-propelled vehicle production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Non-Propelled Vehicle Exports

Exports in ASEAN

In 2021, approx. X units of vehicles not mechanically propelled were exported in ASEAN; picking up by 68% on 2020 figures. In general, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-propelled vehicle exports soared to $X in 2021. Overall, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam dominates exports structure, amounting to X units, which was approx. 82% of total exports in 2021. It was distantly followed by Malaysia (X units), mixing up an 8.3% share of total exports. The following exporters - Singapore (X units), Thailand (X units) and Indonesia (X units) - together made up 9.3% of total exports.

Vietnam was also the fastest-growing in terms of the vehicles not mechanically propelled exports, with a CAGR of +19.3% from 2012 to 2021. At the same time, Thailand (+7.2%) and Malaysia (+3.7%) displayed positive paces of growth. By contrast, Indonesia (-1.8%) and Singapore (-10.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +38 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest non-propelled vehicle supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total exports. It was followed by Singapore, with a 10% share.

In Vietnam, non-propelled vehicle exports increased at an average annual rate of +25.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+2.5% per year) and Singapore (-4.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, shrinking by -18.2% against the previous year. Overall, the export price saw a slight reduction. The most prominent rate of growth was recorded in 2016 when the export price increased by 17%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per unit), while Indonesia ($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 (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Non-Propelled Vehicle Imports

Imports in ASEAN

In 2021, approx. X units of vehicles not mechanically propelled were imported in ASEAN; jumping by 38% against the previous year. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-propelled vehicle imports soared to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of non-propelled vehicle imports in 2021 were Thailand (X units), Malaysia (X units) and Indonesia (X units), together finishing at 73% of total import. It was distantly followed by the Philippines (X units), Singapore (X units) and Vietnam (X units), together mixing up a 23% share of total imports. Cambodia (X units) took a minor share of total imports.

From 2012 to 2021, the biggest increases were in Cambodia (with a CAGR of +19.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, together comprising 63% of total imports. Vietnam, Indonesia, the Philippines and Cambodia lagged somewhat behind, together comprising a further 36%.

Among the main importing countries, Cambodia, with a CAGR of +20.4%, saw 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

The import price in ASEAN stood at $X per unit in 2021, falling by -2.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 13% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per unit), while the Philippines ($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 (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform