South-Eastern Asia: Ship Propeller Market 2025

Ship Propeller Market Size in South-Eastern Asia

In 2022, the Southeast Asian ship propeller market increased by 43% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +73.3% against 2020 indices. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Ship Propeller Production in South-Eastern Asia

In value terms, ship propeller production reduced to $X in 2022 estimated in export price. Overall, production showed a noticeable slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 40%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Ship Propeller Exports

Exports in South-Eastern Asia

In 2022, exports of ships’ or boats’ propellers and blades therefor in South-Eastern Asia skyrocketed to X tons, jumping by 29% compared with the year before. Overall, exports, however, saw a mild downturn. The pace of growth was the most pronounced in 2013 with an increase of 78%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ship propeller exports surged to $X in 2022. In general, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 when exports increased by 49%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) and the Philippines (X tons) represented roughly 71% of total exports in 2022. Malaysia (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (9.5%). The following exporters - Thailand (X tons) and Indonesia (X tons) - together made up 7% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of +23.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest ship propeller supplying countries in South-Eastern Asia were Singapore ($X), the Philippines ($X) and Vietnam ($X), together comprising 86% of total exports. Malaysia, Thailand and Indonesia lagged somewhat behind, together comprising a further 14%.

Among the main exporting countries, Malaysia, with a CAGR of +3.3%, saw 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

The export price in South-Eastern Asia stood at $X per ton in 2022, dropping by -2.5% against the previous year. Overall, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the export price increased by 7.6% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced more modest paces of growth.

Ship Propeller Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of ships’ or boats’ propellers and blades therefor increased by 80% to X tons, rising for the third consecutive year after six years of decline. Overall, imports continue to indicate a tangible expansion. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, ship propeller imports surged to $X in 2022. In general, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Philippines (X tons) represented the key importer of ships’ or boats’ propellers and blades therefor, creating 58% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 14% share, followed by Singapore (12%), Indonesia (7.4%) and Malaysia (5.3%).

The Philippines was also the fastest-growing in terms of the ships’ or boats’ propellers and blades therefor imports, with a CAGR of +20.0% from 2012 to 2022. At the same time, Vietnam (+3.5%) displayed positive paces of growth. By contrast, Singapore (-7.1%), Malaysia (-7.9%) and Indonesia (-9.4%) illustrated a downward trend over the same period. While the share of the Philippines (+46 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-10 p.p.), Indonesia (-18 p.p.) and Singapore (-20.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together comprising 85% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, growing by 9.7% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the import price increased by 31%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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