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Frost & Sullivan's 2024 ASEAN Automotive Growth Outlook Updated Research Available
Electrification Presents Attractive Growth Opportunities
10-Apr-2024
North America
Market Outlook
PFJ4-01-00-00-00
AU_2024_655
This analysis assesses the automotive industry in Association of Southeast Asian Nations (ASEAN) countries and focuses on the 5 main markets (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam). The project covers PVs and pickups. Pickups are the most used and popular CVs in various geographies and industries, including agriculture, in the region.
ASEAN-developed automotive production bases and active production countries are Indonesia, Malaysia, Thailand, and Vietnam. The region is home to assembly plants of foreign and domestic OEMs, including Perodua and Proton from Malaysia and VinFast from Vietnam. As an emerging region, ASEAN’s GDP, urbanization, road infrastructure, and living standards continue to rapidly grow and will accelerate PV sales and ownership. However, the automotive industry faces challenges because of geopolitical conflicts and supply chain disruptions that are causing chip shortages and delivery delays.
The leading position of Japanese brands are being challenged by Chinese and South Korean OEMs that are making significant progress into the region and reshaping the competitive landscape. With the acceleration of electric vehicle (EV) demand globally, the region is transitioning toward electrification of mobility and recognizes EVs as a key component in realizing a sustainable future.
The study outlines the size of respective automotive markets, provides historical data from 2022 and a forecast for 2024, explains industry highlights from 2023, and describes market trends for 2024.
Author: Ming Lih Chan
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the ASEAN Automotive Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
ASEAN Overview
Automotive Sales by Country
Findings—A Recap of 2023
Findings—Top 5 Predictions for 2024
Notable Regulations and Mandates—A Snapshot
Vehicle Sales Forecast for Selected Countries
Sales Trend
Market Share Analysis
Top 10 Trends for 2024
Top 10 Growth Opportunities
Global GDP Growth
Inflation and Interest Rates
Currency Trajectory
Oil Market
Labor Market
Critical Mineral Supplies
North America
Western Europe
Middle East
Asia-Pacific
List of Countries
Research Scope
Market Segmentation and Definition
Scope of Analysis
Top Trends Driving the ASEAN PV Industry
Trend 1—Indonesia and Thailand to Become Pivotal Production Hubs
Trend 1—Indonesia and Thailand to Become Pivotal Production Hubs (continued)
Trend 2—Increased Adoption of EVs in Key Countries
Trend 3—Key ASEAN Countries To Promote Transport Electrification
Industry Analysis—Indonesia
Vendor Analysis—Indonesia
Industry Analysis—Malaysia
Vendor Analysis—Malaysia
Industry Analysis—Philippines
Vendor Analysis—Philippines
Industry Analysis—Thailand
Vendor Analysis—Thailand
Industry Analysis—Vietnam
Vendor Analysis—Vietnam
Growth Opportunity 1—Changing Consumer Behavior
Growth Opportunity 1—Changing Consumer Behavior (continued)
Growth Opportunity 2—Societal Concerns Over Climate Change to Accelerate EV Adoption and the EV Ecosystem
Growth Opportunity 2—Societal Concerns Over Climate Change to Accelerate EV Adoption and the EV Ecosystem (continued)
Growth Opportunity 3—Thailand and Indonesia to Become the Next Favorable Countries For Foreign Investors
Growth Opportunity 3—Thailand and Indonesia to Become the Next Favorable Countries For Foreign Investors (continued)
Conclusions
Conclusions and Future Outlook
Abbreviation List
Your Next Steps
Why Frost, Why Now?
List of Exhibits
Legal Disclaimer
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