ASEAN Automotive Outlook Report 2021-2025 with Focus on Thailand, Indonesia, and Malaysia

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Dec 09, 2021, 12:45 ET

DUBLIN, Dec. 9, 2021 /PRNewswire/ -- The "ASEAN Automotive Outlook, 2021" report has been added to ResearchAndMarkets.com's offering.

This study assesses the automotive market in key ASEAN countries, with a focus on Thailand, Indonesia, and Malaysia. It provides the automotive market snapshot in these 3 ASEAN countries.

Each country snapshot covers the Total Industry Volume (TIV), in the historical period (2016-2020) and the forecast period (2021-2025). This research includes segmentation breakdown in 2020, such as vehicle segment, key Original Equipment Manufacturers (OEMs) and market share. In addition, it highlights 5 key trends and overall impact levels that will influence the automotive market in Thailand, Indonesia, and Malaysia in 2021, respectively.

In 2020, due to the COVID-19 pandemic, the Association of South East Asian Nations (ASEAN) automotive market experienced a significant sales decline of 28.5%, from a total sales of 3.5 million units in 2019 to 2.5 million units in 2020. Passenger Vehicles (PVs) constituted 63.9% of the market and Commercial Vehicles (CV) accounted for 36.1%. Of these, Thailand, Indonesia, and Malaysia contributed a joint market share of 74.9%. Thailand surpassed Indonesia and led the market in 2020.

Especially in 2020, the outbreak of the COVID-19 pandemic influenced the automotive market's activities due to the implementation of social distancing, reduction of retail operations, and production closures. The impact is expected to be significant in terms of a weaker Gross Domestic Product (GDP), lower utilization of vehicles, and lesser automotive purchase attractiveness in the short term.

An increase in government spending (including fiscal injections, infrastructure development, individual financial aid, and tax exemption) in Thailand, Indonesia, and Malaysia in 2021 is likely to accelerate the economic activity in these countries. In addition, the progress of vaccination is one of the critical factors that have a significant relationship with GDP recovery and outbreak control. However, political uncertainties, such as the suspension of the Malaysian Parliament and the extension of the state of emergency in Thailand are affecting the country's development.

Japanese automotive brands lead the ASEAN market. Toyota, Honda, Mitsubishi, Nissan, and Isuzu are the key contributors in Thailand, Indonesia, and Malaysia. In particular, Isuzu D-Max and Toyota Hilux are the key contributors in the Commercial Vehicle (CV) segment in Thailand and Malaysia. In Malaysia, Proton grew significantly in 2020, an increase of 4.4% year-over-year (YoY).

The trend of Low-cost Green Car (LCGC) and Electric Vehicle (EV) development will penetrate further in ASEAN. For example, Thailand aims to become an EV hub by 2025. Thailand's National EV Roadmap targets for xEV production to reach 30% of total production in 2030. Similarly, the Indonesian Government promotes LCGCs and offers income tax incentives (up to 20 years of full corporate tax exemption) that are likely to bring production attractiveness to the automotive market.

Key Topics Covered:

1. Key Findings

Key Findings
Total Industry Volume (TIV) in Key ASEAN Markets
Top Trends for 2021

2. Research Background

Automotive Outlook in ASEAN - Overview
Market Segmentation

3. Strategic Imperatives

Why is it Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of Top 3 Strategic Imperatives on ASEAN's Automotive Market
Growth Opportunities Fuel the Growth Pipeline Engine

4. Global Economic Environment

COVID-19 Impact on World GDP Growth
Global Growth Scenario Analysis - Assumptions
World GDP Growth Under Differing Scenarios
COVID-19 Impact on Key Regions

5. Growth Environment - ASEAN Automotive Market in 2021

ASEAN - An Overview
TIV in Key ASEAN Markets
ASEAN TIV - Market Snapshot
Position of ASEAN Countries on the Growth Potential Curve
Motorization in ASEAN
Emission Regulations in ASEAN

6. Thai Automotive Outlook

Key Growth Metrics
Total Industry Volume by Vehicle Segment
Percent of TIV by Vehicle Segment in 2020
Market Share Analysis
Key Market Trends Anticipated in Thailand in 2021
Trend 1 - COVID-19 Pandemic and Lockdown in Certain Areas
Trend 2 - GDP Recovery and Tourism Industry
Trend 3 - National Electric Vehicle Industry Development Roadmap
Trend 4 - Political Uncertainty and State of Emergency Extension
Trend 5 - Increase in Government Spending and Financial Aid
TIV Forecast Scenario Analysis
Key Conclusions

7. Indonesian Automotive Outlook

Key Growth Metrics
Total Industry Volume by Vehicle Segment
Percent of TIV by Vehicle Segment
Market Share Analysis
Key Market Trends Anticipated in Indonesia in 2021
Trend 1 - COVID-19 Pandemic and Vaccination Progress
Trend 2 - GDP Recovery
Trend 3 - National Automotive Industry Development Roadmap
Trend 4 - Development and Promotion of Low-cost Green Cars
Trend 5 - Increase in Government Spending and Infrastructure Development
TIV Forecast Scenario Analysis
Key Conclusions

8. Malaysian Automotive Outlook

Key Growth Metrics
Total Industry Volume by Vehicle Segment
Percent of TIV by Vehicle Segment
Market Share Analysis
Key Market Trends Anticipated in Malaysia in 2021
Trend 1 - COVID-19 Pandemic and National Lockdown
Trend 2 - GDP Recovery and Vaccination Progress
Trend 3 - Political Uncertainty and Suspended Parliament
Trend 4 - Increase in Government Spending and Tax Exemption
Trend 5 - New Model Launches
TIV Forecast Scenario Analysis
Key Conclusions

9. Growth Opportunity Universe

Growth Opportunity 1: Continued Market Development for Improving Thailand's Automotive Sales, 2020
Growth Opportunity 2: Continued Market Development for Improving Indonesia's Automotive Sales, 2020
Growth Opportunity 3: Continued Market Development for Improving Malaysia's Automotive Sales, 2020

10. Next Steps

Companies Mentioned

Honda
Isuzu
Mitsubishi
Nissan
Proton
Toyota

For more information about this report visit https://www.researchandmarkets.com/r/4dfrr0

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