South-Eastern Asia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in South-Eastern Asia

The Southeast Asian cranks and crankshafts market shrank modestly to $X in 2022, waning by -3% against the previous year. In general, consumption saw a pronounced shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Production in South-Eastern Asia

In value terms, cranks and crankshafts production reduced to $X in 2022 estimated in export price. Overall, production recorded a noticeable decrease. The pace of growth was the most pronounced in 2021 when the production volume increased by 17%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cranks And Crankshafts Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of cranks and crankshafts increased by 6.4% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 36% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, cranks and crankshafts exports stood at $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +18.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 36% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Thailand (X tons) represented the major exporter of cranks and crankshafts, generating 41% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a 24% share, followed by Vietnam (12%), Singapore (11%), the Philippines (6.5%) and Malaysia (4.9%).

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +13.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, together comprising 65% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +6.3%, saw the highest rates of growth with regard to 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

The export price in South-Eastern Asia stood at $X per ton in 2022, declining by -5.9% against the previous year. Overall, the export price saw a noticeable shrinkage. The growth pace was the most rapid in 2017 an increase of 15%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.9%), while the other leaders experienced mixed trends in the export price figures.

Cranks And Crankshafts Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of cranks and crankshafts increased by 7.8% to X tons, rising for the third year in a row after two years of decline. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.9% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cranks and crankshafts imports expanded significantly to $X in 2022. In general, imports, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2018 when imports increased by 22%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Thailand was the largest importing country with an import of about X tons, which reached 54% of total imports. Indonesia (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons), Malaysia (X tons) and Singapore (X tons). All these countries together took near 44% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +11.0% from 2012 to 2022. At the same time, Vietnam (+14.4%), the Philippines (+8.3%), Malaysia (+8.2%) and Singapore (+3.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +14.4% from 2012-2022. By contrast, Indonesia (-2.6%) illustrated a downward trend over the same period. Thailand (+20 p.p.) and Vietnam (+5.9 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Indonesia saw its share reduced by -1.7% and -26.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cranks and crankshafts importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Singapore ($X), together comprising 70% of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 28%.

Among the main importing countries, the Philippines, with a CAGR of +15.2%, saw the highest rates of growth with regard to 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2018 when the import price increased by 27%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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