Malaysia: Non-Propelled Vehicle Market 2024

Non-Propelled Vehicle Market Size in Malaysia

The Malaysian non-propelled vehicle market surged to $X in 2021, rising by 28% against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Propelled Vehicle Production in Malaysia

In value terms, non-propelled vehicle production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 48%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Non-Propelled Vehicle Exports

Exports from Malaysia

In 2021, approx. X units of vehicles not mechanically propelled were exported from Malaysia; picking up by 21% on the year before. Overall, exports enjoyed a notable increase. The growth pace was the most rapid in 2019 with an increase of 91% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, non-propelled vehicle exports surged to $X in 2021. In general, exports posted slight growth. The most prominent rate of growth was recorded in 2015 when exports increased by 111%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units) was the main destination for non-propelled vehicle exports from Malaysia, accounting for a 28% share of total exports. Moreover, non-propelled vehicle exports to Indonesia exceeded the volume sent to the second major destination, Thailand (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+0.4% per year) and the United States (+4.0% per year).

In value terms, Singapore ($X), the United States ($X) and Indonesia ($X) appeared to be the largest markets for non-propelled vehicle exported from Malaysia worldwide, together comprising 51% of total exports.

Among the main countries of destination, Indonesia, with a CAGR of +18.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average non-propelled vehicle export price amounted to $X per unit, remaining stable against the previous year. In general, the export price, however, recorded a slight reduction. The pace of growth was the most pronounced in 2016 an increase of 30% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: 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 (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Propelled Vehicle Imports

Imports into Malaysia

In 2021, after two years of decline, there was significant growth in supplies from abroad of vehicles not mechanically propelled, when their volume increased by 63% to X units. In general, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 86% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, non-propelled vehicle imports skyrocketed to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main non-propelled vehicle supplier to Malaysia, accounting for a 93% share of total imports. It was followed by Japan (X units), with a 1.7% share of total imports. Singapore (X units) ranked third in terms of total imports with a 1.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.2% per year) and Singapore (+0.2% per year).

In value terms, China ($X) constituted the largest supplier of non-propelled vehicle to Malaysia, comprising 89% of total imports. The second position in the ranking was taken by Japan ($X), with a 2.4% share of total imports. It was followed by Thailand, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.9% per year) and Thailand (+11.5% per year).

Import Prices by Country

The average non-propelled vehicle import price stood at $X per unit in 2021, falling by -16.1% against the previous year. Over the period under review, the import price saw a noticeable reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 41% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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