Malaysia: Public Works Machinery Market 2024

Public Works Machinery Market Size in Malaysia

In 2021, after six years of growth, there was decline in the Malaysian public works machinery market, when its value decreased by -2% to $X. Over the period under review, consumption showed a remarkable increase. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

Public Works Machinery Production in Malaysia

In value terms, public works machinery production contracted markedly to $X in 2021 estimated in export price. Overall, production enjoyed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 44% against the previous year. Public works machinery production peaked at $X in 2020, and then shrank remarkably in the following year.

Public Works Machinery Exports

Exports from Malaysia

In 2021, shipments abroad of machinery for public works and building decreased by -30.5% to X units, falling for the third year in a row after two years of growth. In general, exports continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2017 when exports increased by 46% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, public works machinery exports reached $X in 2021. Over the period under review, exports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2020 when exports increased by 94%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units), Hong Kong SAR (X units) and Saudi Arabia (X units) were the main destinations of public works machinery exports from Malaysia, together accounting for 57% of total exports. China, Oman, Sri Lanka, Japan, Vietnam and the United States lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +31.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X) remains the key foreign market for machinery for public works and building exports from Malaysia, comprising 70% of total exports. The second position in the ranking was taken by China ($X), with a 17% share of total exports. It was followed by Hong Kong SAR, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to Singapore amounted to +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+55.0% per year) and Hong Kong SAR (-15.9% per year).

Export Prices by Country

The average public works machinery export price stood at $X per unit in 2021, surging by 64% against the previous year. Over the period under review, the export price continues to indicate a significant increase. The growth pace was the most rapid in 2020 when the average export price increased by 104%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+33.7%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Malaysia

After two years of decline, supplies from abroad of machinery for public works and building increased by 44% to X units in 2021. Over the period under review, imports, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2018 when imports increased by 198%. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, public works machinery imports surged to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 134%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest public works machinery supplier to Malaysia, accounting for a 77% share of total imports. Moreover, public works machinery imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was taken by Norway (X units), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+58.6% per year) and Norway (+58.4% per year).

In value terms, China ($X), Germany ($X) and Japan ($X) appeared to be the largest public works machinery suppliers to Malaysia, together accounting for 56% of total imports. These countries were followed by Italy, Hong Kong SAR, the United States, Norway and Singapore, which together accounted for a further 19%.

Hong Kong SAR, with a CAGR of +57.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average public works machinery import price amounted to $X per unit, declining by -16.5% against the previous year. Overall, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, public works machinery import price increased by +73.6% against 2018 indices. The growth pace was the most rapid in 2020 an increase of 66% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($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 (+35.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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