South-Eastern Asia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in South-Eastern Asia

The Southeast Asian balancing mechanical parts machine market contracted to $X in 2021, declining by -8.8% against the previous year. In general, consumption, however, continues to indicate a deep reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in South-Eastern Asia

In value terms, balancing mechanical parts machine production stood at $X in 2021 estimated in export price. In general, production, however, showed a deep reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Machines For Balancing Mechanical Parts

Exports in South-Eastern Asia

Balancing mechanical parts machine exports soared to X units in 2021, growing by 124% on the previous year's figure. Overall, exports showed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 171% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, balancing mechanical parts machine exports surged to $X in 2021. Over the period under review, exports continue to indicate prominent growth. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X units) was the major exporter of machines for balancing mechanical parts, achieving 64% of total exports. Singapore (X units) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (14%). The Philippines (X units) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +18.3% from 2012 to 2021. At the same time, the Philippines (+40.8%), Singapore (+17.3%) and Malaysia (+16.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +40.8% from 2012-2021. From 2012 to 2021, the share of Thailand and the Philippines increased by +8.6 and +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest balancing mechanical parts machine supplier in South-Eastern Asia, comprising 52% of total exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total exports. It was followed by Singapore, with a 19% share.

From 2012 to 2021, the average annual growth rate of value in Thailand amounted to +11.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.2% per year) and Singapore (+5.8% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, shrinking by -13.5% against the previous year. In general, the export price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2017 an increase of 27%. Over the period under review, the export prices reached the maximum at $X per unit 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, the country with the highest price was the Philippines ($X per unit), while Thailand ($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 (-6.1%), while the other leaders experienced a decline in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in South-Eastern Asia

In 2021, overseas purchases of machines for balancing mechanical parts increased by 15% to X units, rising for the second consecutive year after two years of decline. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.9% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 31%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, balancing mechanical parts machine imports contracted to $X in 2021. Over the period under review, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 27% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X units) and Vietnam (X units) were the main importers of machines for balancing mechanical parts in South-Eastern Asia, together comprising 64% of total imports. It was distantly followed by Indonesia (X units) and Singapore (X units), together generating a 29% share of total imports. The following importers - the Philippines (X units) and Malaysia (X units) - each amounted to a 6.2% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constitutes the largest market for imported machines for balancing mechanical parts in South-Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at -15.1%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (-2.2% per year) and Indonesia (-9.3% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, declining by -21.3% against the previous year. Over the period under review, the import price showed a abrupt decrease. The growth pace was the most rapid in 2019 an increase of 14%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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