Automotive Market Size in Asia and Automobile Industry Development

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Camboja, Laos, Brunei Darussalam, Myanmar, Vietnam, Indonesia, Malaysia, the Philippines, Thailand, and Singapore are the most potential countries in Southeast Asia. Learn about automotive market size in Asia, especially in those countries before entering the Asian market.

Automobile industry in those countries develops in different ways. Amongst those countries, Thailand is the best country in terms of development in automobile manufacturing. Many leading automobile manufacturers like BMW, Toyota, Honda, and Ford have factories in Thailand.

Automotive Market Size In Asia, Especially In Southeast Asia

In 2020 only, the automobile production volume in Thailand was 1.4 million. And the automobiles export volume was 740 thousand units. Indonesia, Vietnam, Malaysia, and the Philippines have many whole vehicle manufacturers. Some other countries have lower data than these major countries.

Unlike those countries, Myanmar only has an industry of automobile assembly on a smaller scale. Cambodia, Laos, Brunei Darussalam, and Singapore don’t have any industry of automobile manufacturing. Most countries in Southeast Asia are highly dependent on imports.

Most of those Southeast Asian countries import automotive products such as the auto parts and the whole vehicles. Contact a trustworthy automotive consulting in Asia before entering those countries.

Development in Automobiles Sales in Southeast Asia

In general, Southeast Asia’s automobile sales volume shows an upward trend especially in recent years. The Philippines and Vietnam’s economic development is able to stimulate the growth of sales in the automobiles sector.

Unfortunately, many complete vehicle or auto parts factories in most countries in Southeast Asia stopped or reduced their production because of the Covid-19 outbreak. But in 2022, Covid-19 is hopefully can be controlled so that the industry of manufacturing can restore their growth.

According to the automotive consulting in Asia’s forecast, the automobile industry in Southeast Asia will grow rapidly between 2022 and 2030. You need to consider some things before entering the market.

Considerations Before Entering Southeast Asia

Many countries in Southeast Asia still have lower labor costs. This is going to prompt many global manufacturers of component and automobile vehicles to transfer their production capacity to those Southeast Asian countries. This should be the major consideration to think about.

The high rising demand of the automobile market in Southeast Asian countries will prompt the global manufacturers of automobile parts and vehicles to increase their exports to those regions.

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