ASEAN: Railway Track Fixture Market 2024

Railway Track Fixture Market Size in ASEAN

The ASEAN railway track fixture market declined modestly to $X in 2023, reducing by X% against the previous year. The total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Railway Track Fixture Production in ASEAN

In value terms, railway track fixture production expanded notably to $X in 2023 estimated in export price. The total production indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Railway Track Fixture Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in overseas shipments of railway or tramway track fixtures and fittings, which increased by X% to X tons in 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, railway track fixture exports surged to $X in 2023. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Exports by Country

Singapore represented the largest exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Malaysia (X tons), making up a X% share of total exports. Vietnam (X tons) and Thailand (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to railway track fixture exports from Singapore stood at X%. At the same time, Vietnam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Singapore (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Singapore ($X) emerged as the largest railway track fixture supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Singapore totaled X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, 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 Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Railway Track Fixture Imports

Imports in ASEAN

In 2023, railway track fixture imports in ASEAN fell to X tons, which is down by X% against 2022 figures. Total imports indicated a noticeable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 when imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, railway track fixture imports fell to $X in 2023. Total imports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Singapore (X tons) represented the largest importer of railway or tramway track fixtures and fittings, mixing up X% of total imports. It was distantly followed by Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), Myanmar (X tons) and Thailand (X tons), together creating a X% share of total imports.

Singapore was also the fastest-growing in terms of the railway or tramway track fixtures and fittings imports, with a CAGR of X% from 2012 to 2023. At the same time, Thailand (X%) and Myanmar (X%) displayed positive paces of growth. Malaysia and Indonesia experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Singapore increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Myanmar, Thailand and Vietnam lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, 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

In 2023, the import price in ASEAN amounted to $X per ton, waning by X% against the previous year. In general, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2023, 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 Myanmar ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform