ASEAN: Market for Parts Of Harvester And Threshers 2024

Market Size for Parts Of Harvester And Threshers in ASEAN

In 2021, the ASEAN market for parts of harvester and threshers increased by 9.9% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Parts Of Harvester And Threshers in ASEAN

In value terms, parts of harvester and threshers production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 30%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Parts Of Harvester And Threshers

Exports in ASEAN

After two years of decline, overseas shipments of parts of harvester and threshers increased by 13% to X units in 2021. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 94%. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, parts of harvester and threshers exports rose rapidly to $X in 2021. Over the period under review, exports posted a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 94% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore represented the major exporting country with an export of about X units, which recorded 65% of total exports. Thailand (X units) took the second position in the ranking, distantly followed by Vietnam (X units). All these countries together held approx. 31% share of total exports. Malaysia (X units) held a relatively small share of total exports.

Singapore was also the fastest-growing in terms of the parts of harvester and threshers exports, with a CAGR of +28.3% from 2012 to 2021. At the same time, Vietnam (+12.9%), Thailand (+11.8%) and Malaysia (+4.5%) displayed positive paces of growth. Singapore (+33 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam, Malaysia and Thailand saw its share reduced by -5%, -6% and -16% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest parts of harvester and threshers supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports. It was followed by Vietnam, with a 7.2% share.

In Singapore, parts of harvester and threshers exports increased at an average annual rate of +27.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+12.5% per year) and Vietnam (+9.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, remaining stable against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 6.9% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Malaysia ($X per unit) and Singapore ($X per unit), while Thailand ($X per unit) and Vietnam ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.6%), while the other leaders experienced a decline in the export price figures.

Imports of Parts Of Harvester And Threshers

Imports in ASEAN

For the tenth year in a row, ASEAN recorded growth in purchases abroad of parts of harvester and threshers, which increased by 34% to X units in 2021. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, parts of harvester and threshers imports soared to $X in 2021. In general, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 42%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Thailand (X units) represented the key importer of parts of harvester and threshers, mixing up 51% of total imports. Indonesia (X units) ranks second in terms of the total imports with a 19% share, followed by Myanmar (16%) and Vietnam (4.9%). The Philippines (X units), Singapore (X units) and Malaysia (X units) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to parts of harvester and threshers imports into Thailand stood at +19.7%. At the same time, Myanmar (+42.7%), Vietnam (+26.1%), Indonesia (+24.9%), the Philippines (+15.8%) and Singapore (+5.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +42.7% from 2012-2021. Malaysia experienced a relatively flat trend pattern. Myanmar (+12 p.p.), Indonesia (+4.8 p.p.) and Vietnam (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines, Singapore, Thailand and Malaysia saw its share reduced by -1.8%, -4.9%, -5.1% and -7.4% from 2012 to 2021, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported parts of harvester and threshers in ASEAN, comprising 33% of total imports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total imports. It was followed by Vietnam, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand stood at +7.9%. In the other countries, the average annual rates were as follows: Indonesia (+24.9% per year) and Vietnam (+26.0% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, reducing by -7.6% against the previous year. Over the period under review, the import price saw a abrupt curtailment. The pace of growth was the most pronounced in 2013 when the import price increased by 4.1%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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