ASEAN Automotive Outlook Report 2021-2025: Competitive Intensity is Concentrated in Low-Cost Green Cars and Electric Vehicles – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–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 8
• 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/q0ppti

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