South-Eastern Asia: Loading Machinery Market 2024

Loading Machinery Market Size in South-Eastern Asia

In 2022, the Southeast Asian loading machinery market increased by 9.7% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +49.3% against 2019 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Loading Machinery Production in South-Eastern Asia

In value terms, loading machinery production stood at $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Loading Machinery Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of lifting, handling, loading or unloading machinery increased by 45% to X units, rising for the second year in a row after two years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +62.8% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 76%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, loading machinery exports surged to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +48.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 66% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Singapore represented the major exporting country with an export of around X units, which amounted to 63% of total exports. Malaysia (X units) took the second position in the ranking, followed by Thailand (X units). All these countries together took approx. 31% share of total exports. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to loading machinery exports from Singapore stood at +11.8%. At the same time, Vietnam (+12.9%), Thailand (+4.7%) and Malaysia (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +12.9% from 2012-2022. Singapore (+21 p.p.) and Vietnam (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Malaysia saw its share reduced by -4.1% and -13.5% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest loading machinery supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was held by Malaysia ($X), with a 21% share of total exports. It was followed by Thailand, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +12.6%. In the other countries, the average annual rates were as follows: Malaysia (+2.5% per year) and Thailand (+0.3% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, shrinking by -5.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 12% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Loading Machinery Imports

Imports in South-Eastern Asia

For the sixth consecutive year, South-Eastern Asia recorded growth in supplies from abroad of lifting, handling, loading or unloading machinery, which increased by 47% to X units in 2022. In general, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, loading machinery imports soared to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +88.2% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X units) was the key importer of lifting, handling, loading or unloading machinery, committing 59% of total imports. Singapore (X units) held the second position in the ranking, distantly followed by Indonesia (X units), Malaysia (X units) and Vietnam (X units). All these countries together held approx. 37% share of total imports. The Philippines (X units) held a minor share of total imports.

Thailand was also the fastest-growing in terms of the lifting, handling, loading or unloading machinery imports, with a CAGR of +17.6% from 2012 to 2022. At the same time, Singapore (+12.2%), Malaysia (+10.9%), Vietnam (+10.6%), Indonesia (+2.3%) and the Philippines (+1.1%) displayed positive paces of growth. Thailand (+21 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines and Indonesia saw its share reduced by -6% and -13.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest loading machinery importing markets in South-Eastern Asia were Thailand ($X), Singapore ($X) and Indonesia ($X), together accounting for 75% of total imports.

Singapore, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 unit, falling by -16.2% against the previous year. Over the period under review, the import price saw a pronounced curtailment. The pace of growth appeared the most rapid in 2018 an increase of 8.3%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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