ASEAN: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in ASEAN

The ASEAN machinery electrical parts market fell to $X in 2022, which is down by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Machinery Electrical Parts Production in ASEAN

In value terms, machinery electrical parts production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced descent. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Machinery Electrical Parts Exports

Exports in ASEAN

In 2022, machinery electrical parts exports in ASEAN declined slightly to X tons, waning by X% compared with the previous year. Overall, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, machinery electrical parts exports reduced to $X in 2022. Over the period under review, exports recorded a pronounced contraction. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia was the main exporter of electrical parts of machinery or apparatus in ASEAN, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Singapore (X tons) ranks second in terms of the total exports with a X% share, followed by Thailand (X%) and Vietnam (X%). The Philippines (X tons) followed a long way behind the leaders.

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

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

In terms of the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price showed a deep slump. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 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 Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Machinery Electrical Parts Imports

Imports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas purchases of electrical parts of machinery or apparatus, when their volume decreased by X% to X tons. In general, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, machinery electrical parts imports shrank dramatically to $X in 2022. Overall, imports, however, recorded a temperate increase. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) was the main importer of electrical parts of machinery or apparatus, constituting X% of total imports. Thailand (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%) and Singapore (X%). The Philippines (X tons) took a little share of total imports.

Malaysia was also the fastest-growing in terms of the electrical parts of machinery or apparatus imports, with a CAGR of X% from 2012 to 2022. At the same time, the Philippines (X%), Thailand (X%), Vietnam (X%) and Singapore (X%) displayed positive paces of growth. Malaysia (X p.p.), Thailand (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the largest machinery electrical parts importing markets in ASEAN were Vietnam ($X), Singapore ($X) and Malaysia ($X), together accounting for X% of total imports. The Philippines and Thailand lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the import price in ASEAN amounted to $X per ton, dropping by X% against the previous year. Overall, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($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 (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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