South-Eastern Asia: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in South-Eastern Asia

The Southeast Asian self-propelled excavating machinery market soared to $X in 2021, increasing by 28% against the previous year. Overall, consumption, however, recorded a noticeable slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Self-Propelled Excavating Machinery Production in South-Eastern Asia

In value terms, self-propelled excavating machinery production dropped dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 9,981% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Self-Propelled Excavating Machinery Exports

Exports in South-Eastern Asia

In 2021, approx. X units of self-propelled earth moving, excavating machinery were exported in South-Eastern Asia; which is down by -30.4% against 2020. In general, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 3,509%. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, self-propelled excavating machinery exports reduced markedly to $X in 2021. Over the period under review, exports recorded a significant contraction. The most prominent rate of growth was recorded in 2015 with an increase of 195%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of self-propelled earth moving, excavating machinery, namely Thailand, represented more than two-thirds of total export.

Thailand was also the fastest-growing in terms of the self-propelled earth moving, excavating machinery exports, with a CAGR of +80.0% from 2012 to 2021. While the share of Thailand (+90 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest self-propelled excavating machinery supplier in South-Eastern Asia.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at -13.3%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, growing by 3.2% against the previous year. Overall, the export price, however, recorded a sharp decrease. The growth pace was the most rapid in 2017 an increase of 4,137%. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Thailand amounted to -51.8% per year.

Self-Propelled Excavating Machinery Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of self-propelled earth moving, excavating machinery decreased by -6.4% to X units, falling for the second year in a row after three years of growth. In general, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 55%. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, self-propelled excavating machinery imports contracted to $X in 2021. Overall, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 51%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Singapore (X units) represented the major importer of self-propelled earth moving, excavating machinery, generating 66% of total imports. It was distantly followed by Thailand (X units) and Indonesia (X units), together comprising a 25% share of total imports. Vietnam (X units) and Malaysia (X units) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to self-propelled excavating machinery imports into Singapore stood at +7.6%. At the same time, Vietnam (+8.2%) and Thailand (+4.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +8.2% from 2012-2021. By contrast, Malaysia (-1.3%) and Indonesia (-26.2%) illustrated a downward trend over the same period. While the share of Singapore (+50 p.p.), Thailand (+10 p.p.) and Vietnam (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-64.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, together comprising 72% of total imports.

Thailand, with a CAGR of +12.8%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, waning by -2.9% against the previous year. In general, the import price continues to indicate a mild curtailment. The growth pace was the most rapid in 2015 when the import price increased by 90%. The level of import peaked at $X per unit in 2017; however, from 2018 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 Malaysia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+9.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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