South-Eastern Asia: Motor Vehicle Radiator Market 2024

Motor Vehicle Radiator Market Size in South-Eastern Asia

The Southeast Asian motor vehicle radiator market rose notably to $X in 2022, surging by 7.8% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Motor Vehicle Radiator Production in South-Eastern Asia

In value terms, motor vehicle radiator production reduced slightly to $X in 2022 estimated in export price. Overall, production recorded a slight contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Motor Vehicle Radiator Exports

Exports in South-Eastern Asia

In 2022, approx. X units of radiators for motor vehicles were exported in South-Eastern Asia; increasing by 4.7% on the previous year's figure. Overall, exports, however, showed a slight contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, motor vehicle radiator exports totaled $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 40%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) and Thailand (X units) prevails in exports structure, together creating 88% of total exports. The following exporters - Malaysia (X units), Cambodia (X units), Myanmar (X units) and Singapore (X units) - together made up 11% of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +106.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle radiator supplying countries in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Singapore ($X), with a combined 92% share of total exports. Malaysia, Myanmar and Cambodia lagged somewhat behind, together comprising a further 6.7%.

In terms of the main exporting countries, Myanmar, with a CAGR of +130.1%, recorded 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

In 2022, the export price in South-Eastern Asia amounted to $X per unit, which is down by -1.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 11% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined modestly in the following year.

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 Singapore ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+11.7%), while the other leaders experienced more modest paces of growth.

Motor Vehicle Radiator Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of radiators for motor vehicles increased by 32% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +62.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, motor vehicle radiator imports soared to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +69.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Thailand (X units) and Indonesia (X units) were the key importers of radiators for motor vehicles in South-Eastern Asia, together accounting for near 70% of total imports. Malaysia (X units) took the next position in the ranking, followed by Vietnam (X units) and Myanmar (X units). All these countries together held approx. 25% share of total imports. The following importers - Singapore (X units) and the Philippines (X units) - each finished at a 3.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +39.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 79% share of total imports. Malaysia, Singapore, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 20%.

Myanmar, with a CAGR of +17.2%, saw the highest growth rate of the value of imports, among 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

The import price in South-Eastern Asia stood at $X per unit in 2022, waning by -7.2% against the previous year. Over the period under review, the import price saw a slight slump. The growth pace was the most rapid in 2021 an increase of 13% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 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 Singapore ($X per unit), while Myanmar ($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 (+22.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform