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148 pages. The automotive industry is one of the focus industries of MREPC' s market access exploration for Malaysian rubber product manufacturers and exporters. This report attempts to capture the supply and distribution of aftermarket parts in the ASEAN region, focusing on Indonesia, Vietnam and Myanmar. This study exclude Thailand and Philippines, two main automotive markets in ASEAN. Based on the previous MREPC studies, both Thailand and the Philippines have limited export potential.
Encompassing an area spanning more than 1.7 million square miles (larger than the land area of India), the ASEAN region has the worldÃ¢â‚¬â„¢s third largest population with 650 million people and a combined GDP of USD 2.8 trillion. The region offers vast opportunities for manufacturers and distributors of automotive parts and components. Possibilities abound as the regionÃ¢â‚¬â„¢s economy remains strong and the number of middle class households with high net disposable income increases.
Indonesia holds the dominant position in the ASEAN automotive aftermarket and is expected to witness significant growth in the coming years. Meanwhile, Vietnam and Myanmar are also catching up rapidly with the growth in urbanisation and mobilisation. Significant investments in infrastructure coupled with rising household income would boost vehicle ownership and in turn contribute to the growth of parts replacement market.
To capitalise on these opportunities, MREPC for its part has much to do to assist the industry in tapping into the emerging markets through the conduct of this study to examine the potential buyers of rubber automotive parts in these markets. Apart from the profiling of potential buyers, the study also highlights the marketing channels that Malaysian exporters can reach out to the importers and distributors in the targeted markets.
MREPC hopes that the rubber automotive parts manufacturers and exporters would find this report interesting and insightful.
Publication Date:22 July 2020
Category: Market Reports
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