Research Report on Automobile Industry in Southeast Asia, 2022-2031

Research Report on Automobile Industry in Southeast Asia, 2022-2031

Automobile Industry in Southeast Asia

Southeast Asian countries in the report include Singapore, Thailand, the Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. By the end of 2021, the population in Southeast Asia had exceeded 660 million. The overall economic growth rate is higher than global average level and it becomes a major driving force of world economic development.

According to CRI’s research, significant gaps in economic development remain among the 10 countries in Southeast Asia. Singapore is the only developed country, which had the GDP per capita of approximately USD 73000 in 2021, while the GDP per capita was less than USD 2,000 in Myanmar, Laos and Cambodia. The population and minimum wage vary greatly among Southeast Asian countries.

Brunei is the least populated country with less than 500,000 people, while Indonesia is the most-populous country with a population of over 275 million in 2021. Singapore, the most developed country in Southeast Asian region, does not set the legal minimum wage. The actual minimum wage is over 400 USD per month (foreign maidservant). In comparison, the minimum wage in Myanmar is only 93 USD per month.

The development of the automobile industry differs greatly among the Southeast Asian countries. According to the analysis of CRI, Thailand is the most developed country in terms of automobile manufacturing. Some world’s leading automobile manufacturers, such as Ford, Honda, Toyota and BMW have built factories in Thailand. In 2021, the production volume of automobiles was 1.72 million.

The export volume of automobiles in Thailand was about 960 thousand units. There are a lot of whole vehicle manufacturers in the Philippines, Malaysia, Vietnam and Indonesia. Myanmar has a small-scale automobile assembly industry.

Singapore, Brunei, Laos and Cambodia do not have the automobile manufacturing industry. Generally speaking, automobile markets in most Southeast Asian countries are highly dependent on import. The imported products include whole vehicles and auto parts.

In general, the sales volume of automobiles in Southeast Asia presents an upward trend in recent years. Especially, the constant economic development in the Philippines and Vietnam stimulates the sales growth of automobiles.

Due to the outbreak of COVID-19, many auto parts or complete vehicle factories in Southeast Asian countries had to reduce or stop production, making the global supply chain suffer a new blow. It is expected that in 2022, COVID-19 is expected to be effectively controlled, and the Southeast Asian auto manufacturing industry will show restored growth.

According to CRI’s forecast, the Southeast Asian automobile industry will grow rapidly in 2022-2031. On the one hand, the lower labor costs in Southeast Asian countries will prompt global automobile vehicle and component manufacturers to transfer production capacity to these regions.

On the other hand, the rising demand of Southeast Asian automobile market will prompt global automobile vehicle and parts manufacturers to increase exports to these countries.

• Southeast Asia’s Automobile Industry Overview
• Economic and Policy Environment of Southeast Asia’s Automobile
• What is the impact of COVID-19 on the Southeast Asia’s automobile industry?
• Southeast Asia’s Automobile Market Size, 2016-2021
• Analysis of Major Automobile Companies in Southeast Asia
• Key Drivers and Market Opportunities in Southeast Asia’s Automobile Industry
• What are the key drivers, challenges, and opportunities for the Southeast Asia’s automobile industry during the forecast period 2022-2031?
• Which are the key players in the Southeast Asia’s Automobile market and what are their competitive advantages?
• What is the expected revenue of the Southeast Asia’s automobile market during the forecast period of 2022-2031?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Southeast Asia’s automobile market is expected to dominate the market in 2031?
• What are the major adverse factors facing the Southeast Asia’s automobile industry?