South-Eastern Asia: Suspension System Market 2025

Suspension System Market Size in South-Eastern Asia

In 2022, after two years of decline, there was significant growth in the Southeast Asian suspension system market, when its value increased by 5.5% to $X. Over the period under review, consumption showed a prominent increase. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Suspension System Production in South-Eastern Asia

In value terms, suspension system production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate prominent growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 35% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Suspension System Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of suspension systems were exported in South-Eastern Asia; with a decrease of -10.7% on 2021 figures. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 56%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, suspension system exports contracted significantly to $X in 2022. In general, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 68%. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Thailand represented the key exporter of suspension systems in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. 56% of total exports in 2022. Malaysia (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (11%), Vietnam (9.4%) and Singapore (7.7%).

From 2012 to 2022, average annual rates of growth with regard to suspension system exports from Thailand stood at +6.0%. At the same time, Malaysia (+28.3%), Vietnam (+11.6%), Singapore (+10.2%) and Indonesia (+8.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +28.3% from 2012-2022. While the share of Malaysia (+12 p.p.) and Vietnam (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-15.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest suspension system supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports. It was followed by Vietnam, with an 11% share.

In Thailand, suspension system exports expanded at an average annual rate of +7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+31.8% per year) and Vietnam (+11.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, falling by -4.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 7.7% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced slightly 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 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 Malaysia (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Suspension System Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of suspension systems increased by 17% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +8.1% 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 +50.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 42%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, suspension system imports skyrocketed to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 +60.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Indonesia (X tons) and Thailand (X tons) represented roughly 64% of total imports in 2022. Malaysia (X tons) ranks next in terms of the total imports with a 14% share, followed by Vietnam (13%) and Singapore (5.7%). The following importers - Myanmar (X tons) and the Philippines (X tons) - each accounted for a 3.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +40.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest suspension system importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Vietnam ($X), together accounting for 79% of total imports. Malaysia, Singapore, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 20%.

The Philippines, with a CAGR of +21.7%, saw the highest growth rate of 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

The import price in South-Eastern Asia stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 11%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+20.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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