Malaysia: Metal Vehicle Lock Market 2025

Metal Vehicle Lock Market Size in Malaysia

The Malaysian metal vehicle lock market soared to $X in 2021, with an increase of 21% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Metal Vehicle Lock Exports

Exports from Malaysia

In 2021, shipments abroad of base metal motor vehicle locks decreased by -25.1% to X tons, falling for the second year in a row after three years of growth. Overall, exports continue to indicate a deep slump. The growth pace was the most rapid in 2019 with an increase of 183%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal vehicle lock exports reduced to $X in 2021. Over the period under review, exports saw a mild shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 179%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for metal vehicle lock exports from Malaysia, accounting for a 62% share of total exports. Moreover, metal vehicle lock exports to Singapore exceeded the volume sent to the second major destination, Thailand (X tons), threefold. India (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-17.0% per year) and India (-12.8% per year).

In value terms, Singapore ($X) remains the key foreign market for base metal motor vehicle locks exports from Malaysia, comprising 74% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports. It was followed by India, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to +30.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-10.1% per year) and India (-4.9% per year).

Export Prices by Country

The average metal vehicle lock export price stood at $X per ton in 2021, growing by 20% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal vehicle lock export price increased by +36.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 44% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports into Malaysia

Metal vehicle lock imports into Malaysia expanded notably to X tons in 2021, with an increase of 11% against the year before. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +14.6% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 97% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, metal vehicle lock imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.7% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 99% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Germany (X tons) were the main suppliers of metal vehicle lock imports to Malaysia, with a combined 67% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +51.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Indonesia ($X) were the largest metal vehicle lock suppliers to Malaysia, with a combined 76% share of total imports. Japan and Germany lagged somewhat behind, together comprising a further 16%.

Germany, with a CAGR of +35.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal vehicle lock import price stood at $X per ton in 2021, with an increase of 9.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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