Research Report on Southeast Asia Automotive Repair Industry 2023-2032
With the economic development of Southeast Asia, the per capita living standard has improved and the consumption level has increased, the sales volume of automobiles is also rising. And with the rise of car ownership in Southeast Asia, the auto repair industry in Southeast Asia is also developing rapidly.
At the same time, the vigorous development of Southeast Asia's auto industry has led to the expansion of its auto parts manufacturing industry. Southeast Asia has a cheap and sufficient labor force, a relaxed policy environment, and low barriers to market access, which attracts global auto parts manufacturers to gradually go to Southeast Asia to set up factories and provide sufficient auto parts supply for the Southeast Asian auto repair industry.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.
Auto repair is an important part of the automotive industry chain. With the development of the automotive industry in Southeast Asia and the gradual increase in car ownership, CRI expects the automotive repair industry in Southeast Asia to maintain growth from 2023-2032.
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