South-Eastern Asia: Bridge Market 2024

Bridge Market Size in South-Eastern Asia

After three years of growth, the Southeast Asian bridge market decreased by -23.5% to $X in 2021. In general, consumption recorded a mild decline. The level of consumption peaked at $X in 2020, and then shrank notably in the following year.

Bridge Production in South-Eastern Asia

In value terms, bridge production fell 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; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 23%. Over the period under review, production attained the peak level at $X in 2020, and then shrank slightly in the following year.

Bridge Exports

Exports in South-Eastern Asia

For the fourth year in a row, South-Eastern Asia recorded growth in shipments abroad of bridges, bridge sections, towers and lattice masts (of iron or steel), which increased by 57% to X tons in 2021. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 66%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, bridge exports surged to $X in 2021. In general, exports enjoyed a moderate increase. The growth pace was the most rapid in 2018 with an increase of 69% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

Vietnam (X tons), Thailand (X tons), Malaysia (X tons) and Indonesia (X tons) represented roughly 99% of total exports in 2021.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +30.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bridge supplying countries in South-Eastern Asia were Vietnam ($X), Malaysia ($X) and Indonesia ($X), with a combined 81% share of total exports.

Vietnam, with a CAGR of +25.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, which is down by -4% against the previous year. Overall, the export price recorded a deep downturn. The growth pace was the most rapid in 2019 an increase of 1.6%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-2.0%), while the other leaders experienced a decline in the export price figures.

Bridge Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of bridges, bridge sections, towers and lattice masts (of iron or steel) were imported in South-Eastern Asia; waning by -12.7% against the previous year's figure. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern 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. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, bridge imports dropped modestly to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Philippines (X tons) represented the largest importer of bridges, bridge sections, towers and lattice masts (of iron or steel), constituting 47% of total imports. Myanmar (X tons) ranks second in terms of the total imports with a 15% share, followed by Cambodia (12%) and Lao People's Democratic Republic (10%). Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the bridges, bridge sections, towers and lattice masts (of iron or steel) imports, with a CAGR of +14.7% from 2012 to 2021. At the same time, Cambodia (+11.5%), Lao People's Democratic Republic (+7.4%), Myanmar (+5.5%) and Vietnam (+5.4%) displayed positive paces of growth. By contrast, Malaysia (-8.6%) and Indonesia (-18.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines, Cambodia, Myanmar and Lao People's Democratic Republic increased by +31, +6.8, +3.7 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported bridges, bridge sections, towers and lattice masts (of iron or steel) in South-Eastern Asia, comprising 52% of total imports. The second position in the ranking was taken by Cambodia ($X), with a 16% share of total imports. It was followed by Myanmar, with an 8.5% share.

In the Philippines, bridge imports increased at an average annual rate of +11.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cambodia (+18.1% per year) and Myanmar (+3.3% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 25% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+5.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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