South-Eastern Asia: Truck Market 2025

Truck Market Size in South-Eastern Asia

In 2022, after two years of decline, there was significant growth in the Southeast Asian truck market, when its value increased by 18% to $X. Over the period under review, consumption, however, continues to indicate a mild downturn. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Truck Production in South-Eastern Asia

In value terms, truck production declined to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 15%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Truck Exports

Exports in South-Eastern Asia

After two years of growth, overseas shipments of trucks decreased by -8.9% to X units in 2022. Overall, exports recorded a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 55% 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 failed to regain momentum.

In value terms, truck exports dropped to $X in 2022. Over the period under review, exports showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 58% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, accounting for X units, which was near 97% of total exports in 2022. Indonesia (X units) held a little share of total exports.

Exports from Thailand decreased at an average annual rate of -1.7% from 2012 to 2022. At the same time, Indonesia (+4.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +4.1% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest truck supplier in South-Eastern Asia, comprising 96% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 3% share of total exports.

In Thailand, truck exports plunged by an average annual rate of -3.6% over the period from 2012-2022.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, stabilizing at the previous year. In general, the export price recorded a slight decrease. The most prominent rate of growth was recorded in 2019 when the export price increased by 9.4%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-0.5%).

Truck Imports

Imports in South-Eastern Asia

Truck imports rose sharply to X units in 2022, picking up by 8.4% against the previous year's figure. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +41.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 30%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, truck imports contracted to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +51.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 52% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Philippines (X units), distantly followed by Indonesia (X units), Vietnam (X units), Cambodia (X units), Malaysia (X units) and Thailand (X units) represented the key importers of trucks, together generating 92% of total imports. Singapore (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +8.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest truck importing markets in South-Eastern Asia were the Philippines ($X), Indonesia ($X) and Vietnam ($X), with a combined 69% share of total imports.

Among the main importing countries, the Philippines, with a CAGR of +16.7%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, falling by -8.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per unit, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($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 (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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