ASEAN: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in ASEAN

The ASEAN railway maintenance vehicle market reached $X in 2023, growing by X% against the previous year. Overall, consumption continues to indicate a buoyant increase. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Railway Maintenance Vehicle Production in ASEAN

In value terms, railway maintenance vehicle production rose notably to $X in 2023 estimated in export price. Over the period under review, production showed strong growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Railway Maintenance Vehicle Exports

Exports in ASEAN

For the fourth consecutive year, ASEAN recorded growth in overseas shipments of railway or tramway maintenance or service vehicles, which increased by X% to X units in 2023. Over the period under review, exports continue to indicate measured growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, railway maintenance vehicle exports skyrocketed to $X in 2023. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

In 2023, Singapore (X units) was the major exporter of railway or tramway maintenance or service vehicles, generating X% of total exports. It was distantly followed by Malaysia (X units), Thailand (X units), Indonesia (X units) and the Philippines (X units), together generating a X% share of total exports.

Exports from Singapore increased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Singapore, the Philippines and Malaysia increased by X, X and X percentage points, respectively.

In value terms, Singapore ($X) remains the largest railway maintenance vehicle supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Singapore, railway maintenance vehicle exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price posted significant growth. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Railway Maintenance Vehicle Imports

Imports in ASEAN

In 2023, the amount of railway or tramway maintenance or service vehicles imported in ASEAN dropped to X units, waning by X% compared with 2022 figures. In general, imports, however, saw a mild increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, railway maintenance vehicle imports soared to $X in 2023. Over the period under review, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

Indonesia represented the largest importing country with an import of around X units, which reached X% of total imports. It was distantly followed by the Philippines (X units), Singapore (X units), Malaysia (X units), Myanmar (X units) and Thailand (X units), together creating a X% share of total imports. Vietnam (X units) held a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Myanmar ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Malaysia, Thailand, the Philippines and Vietnam lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded the highest growth rate of 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 2023, the import price in ASEAN amounted to $X per unit, surging by X% against the previous year. Overall, the import price posted strong growth. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Myanmar ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform