South-Eastern Asia: Crawler Tractor Market 2024

Crawler Tractor Market Size in South-Eastern Asia

In 2021, the Southeast Asian crawler tractor market increased by 13% to $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption, however, showed a abrupt downturn. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Crawler Tractor Production in South-Eastern Asia

In value terms, crawler tractor production rose slightly to $X in 2021 estimated in export price. In general, production, however, showed a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 30% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Crawler Tractor Exports

Exports in South-Eastern Asia

In 2021, the amount of crawler tractors exported in South-Eastern Asia dropped notably to X units, declining by -41.4% compared with the previous year's figure. In general, exports faced a precipitous contraction. The pace of growth was the most pronounced in 2019 when exports increased by 72%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, crawler tractor exports declined notably to $X in 2021. Over the period under review, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2019 with an increase of 112% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Vietnam (X units) represented the largest exporter of crawler tractors, mixing up 44% of total exports. Singapore (X units) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (15%), Malaysia (12%), Lao People's Democratic Republic (7.4%) and Indonesia (5.9%).

Vietnam was also the fastest-growing in terms of the crawler tractors exports, with a CAGR of +11.8% from 2012 to 2021. At the same time, Malaysia (+11.5%), Indonesia (+8.0%) and Lao People's Democratic Republic (+5.8%) displayed positive paces of growth. By contrast, Thailand (-32.7%) and Singapore (-38.4%) illustrated a downward trend over the same period. Vietnam (+43 p.p.), Malaysia (+12 p.p.), Lao People's Democratic Republic (+7.1 p.p.) and Indonesia (+5.7 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by -13.8% and -53.7% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest crawler tractor supplier in South-Eastern Asia, comprising 50% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 24% share of total exports. It was followed by Malaysia, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to -34.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+7.4% per year) and Malaysia (+11.2% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, with a decrease of -13.1% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 when the export price increased by 40% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 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 Lao People's Democratic Republic ($X per unit), while Vietnam ($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 (+13.5%), while the other leaders experienced more modest paces of growth.

Crawler Tractor Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of crawler tractors increased by 106% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 166%. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, crawler tractor imports soared to $X in 2021. Overall, imports, however, saw a abrupt downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X units) represented the key importer of crawler tractors, making up 50% of total imports. Thailand (X units) held the second position in the ranking, distantly followed by the Philippines (X units). All these countries together held near 33% share of total imports. Brunei Darussalam (X units), Singapore (X units), Vietnam (X units) and Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +22.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Indonesia ($X) constitutes the largest market for imported crawler tractors in South-Eastern Asia, comprising 74% of total imports. The second position in the ranking was held by Singapore ($X), with a 20% share of total imports. It was followed by Vietnam, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value in Indonesia amounted to +24.0%. In the other countries, the average annual rates were as follows: Singapore (-30.9% per year) and Vietnam (-16.1% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, picking up by 25% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when the import price increased by 187%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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