rfc logo transparent

Manufacturing - Industry - Asia Pacific Market, Share and Trends 2023-2028

Report ID:

MAIND1A

|

Industry:

Summary of Manufacturing

In Asia Pacific region manufacturing is a major contributor to the economy and it is experiencing significant transition. Leading global manufacturers are shifting their operations to Southeast Asia in order to save money due to the changing demographics and increasing labour cost in Europe and North America. Based on our estimates, we can say that the Asia- Pacific’s regional manufacturing industry is forecasted to be a $9419.24 billion industry in 2029 from $8064 billion in 2023 with a CAGR of 4.10%.

The Asia-Pacific region has emerged as a global manufacturing powerhouse-- accounting for over 30% of worldwide output. Led by China, Japan, South Korea and other Asian manufacturing serves as a core economic driver supporting hundreds of millions of jobs. This region contributes for approximately 48% of the global market revenue of the ‘Manufacturing’ industry.           

The onset and subsequent waves of the pandemic had a significant impact on Asia's largest manufacturing hubs and major global consumer-goods producers namely - Vietnam, Malaysia and Thailand. Due to containment measures such as strict lockdowns in large cities and industrial hubs, production of consumer goods such as - apparel, furniture, mobile phones and other electronics was halted in Vietnam.

The manufacturing sector in many Asia-Pacific (APAC) economies showed a strong significant rebound since September 2020, the recovery in APAC manufacturing has been led by China, which returned to favorable industrial production growth in the second quarter of 2020, with manufacturing output growth strengthening in the second half of 2020.

Recent Trends and Insights

Rapid adoption of Industry 4.0 technologies has modernized factories across APAC. Automation, robotics, 3D printing and artificial intelligence are enhancing productivity while reducing costs. Asian countries are also investing heavily in renewable energy, green chemistry and the circular economy to transition to more sustainable models.

APAC Holds a Prominent Position in the Smart Manufacturing Market. APAC is estimated to contribute 38% to the growth of the global market during the forecast period. The rise of Industry 4.0 - marked by IoT, cloud computing and automation - is a key driver for the smart manufacturing market in APAC. 

Meanwhile-- reshoring interest and rising wages in China have seen some companies diversify production to lower-cost nations like Vietnam, India, and Indonesia. Geopolitical risks also factor into decisions. Skilled workforce development remains a priority as advanced manufacturing demands new skills.

Manufacturing realm of this region is also being contributed by some infrastructure investment & by the transportation and power sector. A few of the developing economies in within this region will require USD 1.7 trillion per year from 2016 to 2030 to help provide aid in the development of this industry.

Product Insights

The Asia-Pacific manufacturing industry has experienced rapid transformation in recent years driven by advancing technologies, evolving consumer demands and a push for more sustainable practices. Manufacturers across the region have increasingly focused on product customization, speed to market and supply chain optimization in highly competitive global markets.

Product personalization has grown in importance as customers expect tailored solutions that meet their unique needs. Leading APAC companies have invested in advanced digital capabilities like 3D printing, AI-enabled design and mass customization to offer highly customized products at scale. Data-driven insights into customer preferences also allow for rapid iteration and customized feature additions.

Environmental sustainability has also emerged as a key priority for APAC manufacturers and their customers. Products are being redesigned for reduced material and energy usage throughout their lifecycles. Alternative materials like - modular designs and new business models emphasizing reuse and recycling are gaining traction. Supply chain transparency regarding social and environmental impacts is increasingly expected as well.

MES reduces the operation cycle time by replacing manual operations with the digital method for faster transfer of process information. Total quality management and total quality production can be obtained by the successful deployment of MES at manufacturing sites.

Key Companies

Some major players within this vast domain of industry are

  • Larsen and Toubro
  • Tata Consultancy Services
  • Huawei Technologies
  • Inspur Group
  • GE Digital
  • Honeywell Process Solutions
  • SAP AG
  • Siemens PLM Software
  • Hewlett Packard Enterprise Co.
  • Cisco Systems Inc.

Regional Analysis

The increase in the massive IoT industrial network to monitor the complexity of the manufacturing process also increases the automation management equipment (MES) market. This system can help companies keep track of the location of the materials they introduce in the supply chain process. This advanced software system fulfills the manufacturing management function of a huge factory.

Asia Pacific (APAC) registered the highest CAGR from 2023-2030. The region has witnessed rapid advancements in the manufacturing segment with the expansion of the smart manufacturing market, additive manufacturing and utilization of IIOT. Government institutions in the APAC region are also promoting manufacturing knowing that it drives economic growth, stability and competitiveness. To facilitate manufacturing - policies are being implemented to provide incentives and invest in digital infrastructure in the region.

Taiwan Semiconductor Manufacturing Company (TSMC) announced its collaboration with Sigapore’s Nanang Technological Group (NTU) to develop new manufacturing technologies. This partnership is to explore new dimensions in advanced analytics and A.I solutions.

The research studies involved in contemplating why Asia-Pacific’s Manufacturing market aids to estimate several important aspects that includes but are not limited to investment in a rising market, success of a new product and expansion of market share.

Market Segmentation

By Production Processes:

  • 3D printing
  • Rapid prototyping
  • Assembly Line manufacturing
  • Continuous process manufacturing
  • Build-to-order
  • Engineer-to-order

By End User:

  • Supply chain and industrial equipment
  • Components for other industries
  • Consumer goods production
  • Personal electronics manufacturing

By Industry Verticals:

  • Passenger Vehicles
  • Commercial vehicles
  • Electric vehicles
  • Aircraft manufacturing
  • Defense equipment
  • Space exploration
  • Consumer electronics
  • Semiconductor manufacturing
  • Industrial automation

By Country:

  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia

Our Methodology

We have offered a well-founded review of the Asia-Pacific’s regional Manufacturing market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as-- case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The Asia Pacific Size of the Manufacturing Industry is USD 8064 Billion in 2023 and is expected to grow to USD 10193.52 Billion by 2029

The CAGR of the Manufacturing Industry Market in Asia Pacific is 3.93%

The China region accounts for 35% of the total market share of the Manufacturing Industry Market

The key players in the Manufacturing Industry Market in Asia Pacific are Toyota Motor Corporation, Samsung Electronics, Foxconn, SK Group and LG Corporation. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Manufacturing Industry Market in Asia Pacific are Large consumer base, Low production costs, Government support for exports, Growing electronics and automotive sectors and Urbanization and rising incomes. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Manufacturing

In Asia Pacific region manufacturing is a major contributor to the economy and it is experiencing significant transition. Leading global manufacturers are shifting their operations to Southeast Asia in order to save money due to the changing demographics and increasing labour cost in Europe and North America. Based on our estimates, we can say that the Asia- Pacific’s regional manufacturing industry is forecasted to be a $9419.24 billion industry in 2029 from $8064 billion in 2023 with a CAGR of 4.10%.

The Asia-Pacific region has emerged as a global manufacturing powerhouse-- accounting for over 30% of worldwide output. Led by China, Japan, South Korea and other Asian manufacturing serves as a core economic driver supporting hundreds of millions of jobs. This region contributes for approximately 48% of the global market revenue of the ‘Manufacturing’ industry.           

The onset and subsequent waves of the pandemic had a significant impact on Asia's largest manufacturing hubs and major global consumer-goods producers namely - Vietnam, Malaysia and Thailand. Due to containment measures such as strict lockdowns in large cities and industrial hubs, production of consumer goods such as - apparel, furniture, mobile phones and other electronics was halted in Vietnam.

The manufacturing sector in many Asia-Pacific (APAC) economies showed a strong significant rebound since September 2020, the recovery in APAC manufacturing has been led by China, which returned to favorable industrial production growth in the second quarter of 2020, with manufacturing output growth strengthening in the second half of 2020.

Recent Trends and Insights

Rapid adoption of Industry 4.0 technologies has modernized factories across APAC. Automation, robotics, 3D printing and artificial intelligence are enhancing productivity while reducing costs. Asian countries are also investing heavily in renewable energy, green chemistry and the circular economy to transition to more sustainable models.

APAC Holds a Prominent Position in the Smart Manufacturing Market. APAC is estimated to contribute 38% to the growth of the global market during the forecast period. The rise of Industry 4.0 - marked by IoT, cloud computing and automation - is a key driver for the smart manufacturing market in APAC. 

Meanwhile-- reshoring interest and rising wages in China have seen some companies diversify production to lower-cost nations like Vietnam, India, and Indonesia. Geopolitical risks also factor into decisions. Skilled workforce development remains a priority as advanced manufacturing demands new skills.

Manufacturing realm of this region is also being contributed by some infrastructure investment & by the transportation and power sector. A few of the developing economies in within this region will require USD 1.7 trillion per year from 2016 to 2030 to help provide aid in the development of this industry.

Product Insights

The Asia-Pacific manufacturing industry has experienced rapid transformation in recent years driven by advancing technologies, evolving consumer demands and a push for more sustainable practices. Manufacturers across the region have increasingly focused on product customization, speed to market and supply chain optimization in highly competitive global markets.

Product personalization has grown in importance as customers expect tailored solutions that meet their unique needs. Leading APAC companies have invested in advanced digital capabilities like 3D printing, AI-enabled design and mass customization to offer highly customized products at scale. Data-driven insights into customer preferences also allow for rapid iteration and customized feature additions.

Environmental sustainability has also emerged as a key priority for APAC manufacturers and their customers. Products are being redesigned for reduced material and energy usage throughout their lifecycles. Alternative materials like - modular designs and new business models emphasizing reuse and recycling are gaining traction. Supply chain transparency regarding social and environmental impacts is increasingly expected as well.

MES reduces the operation cycle time by replacing manual operations with the digital method for faster transfer of process information. Total quality management and total quality production can be obtained by the successful deployment of MES at manufacturing sites.

Key Companies

Some major players within this vast domain of industry are

  • Larsen and Toubro
  • Tata Consultancy Services
  • Huawei Technologies
  • Inspur Group
  • GE Digital
  • Honeywell Process Solutions
  • SAP AG
  • Siemens PLM Software
  • Hewlett Packard Enterprise Co.
  • Cisco Systems Inc.

Regional Analysis

The increase in the massive IoT industrial network to monitor the complexity of the manufacturing process also increases the automation management equipment (MES) market. This system can help companies keep track of the location of the materials they introduce in the supply chain process. This advanced software system fulfills the manufacturing management function of a huge factory.

Asia Pacific (APAC) registered the highest CAGR from 2023-2030. The region has witnessed rapid advancements in the manufacturing segment with the expansion of the smart manufacturing market, additive manufacturing and utilization of IIOT. Government institutions in the APAC region are also promoting manufacturing knowing that it drives economic growth, stability and competitiveness. To facilitate manufacturing - policies are being implemented to provide incentives and invest in digital infrastructure in the region.

Taiwan Semiconductor Manufacturing Company (TSMC) announced its collaboration with Sigapore’s Nanang Technological Group (NTU) to develop new manufacturing technologies. This partnership is to explore new dimensions in advanced analytics and A.I solutions.

The research studies involved in contemplating why Asia-Pacific’s Manufacturing market aids to estimate several important aspects that includes but are not limited to investment in a rising market, success of a new product and expansion of market share.

Market Segmentation

By Production Processes:

  • 3D printing
  • Rapid prototyping
  • Assembly Line manufacturing
  • Continuous process manufacturing
  • Build-to-order
  • Engineer-to-order

By End User:

  • Supply chain and industrial equipment
  • Components for other industries
  • Consumer goods production
  • Personal electronics manufacturing

By Industry Verticals:

  • Passenger Vehicles
  • Commercial vehicles
  • Electric vehicles
  • Aircraft manufacturing
  • Defense equipment
  • Space exploration
  • Consumer electronics
  • Semiconductor manufacturing
  • Industrial automation

By Country:

  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia

Our Methodology

We have offered a well-founded review of the Asia-Pacific’s regional Manufacturing market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as-- case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The Asia Pacific Size of the Manufacturing Industry is USD 8064 Billion in 2023 and is expected to grow to USD 10193.52 Billion by 2029

The CAGR of the Manufacturing Industry Market in Asia Pacific is 3.93%

The China region accounts for 35% of the total market share of the Manufacturing Industry Market

The key players in the Manufacturing Industry Market in Asia Pacific are Toyota Motor Corporation, Samsung Electronics, Foxconn, SK Group and LG Corporation. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Manufacturing Industry Market in Asia Pacific are Large consumer base, Low production costs, Government support for exports, Growing electronics and automotive sectors and Urbanization and rising incomes. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Jump to Content

GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

Or view our licence options:

Ready to get started? Lets get on a Call to discuss your Project

Scroll to Top

REQUEST TOC

rfc logo transparent
Search

About Us

We are Ruskin Felix Consulting (RFC), a global strategic advisory firm. For over a decade, we have partnered with clients worldwide to solve complex business and technology challenges. Whether you need strategic advice, market research, or solutions to make important decisions, we’ve got you covered.

RFC VOMODE

At RFC, we believe that every great idea deserves a chance to shine. With our expert guidance, cutting-edge strategies, and meticulous attention to detail, we’ll work hand in hand with you to create strategies and guidance that helps you scale, build and develop your idea into a ready product in the market.

Industries

Understand multiple industries at a glance, which encompasses change as its core attribute.

Services

RFC helps clients generate long-term value for all stakeholders. We help clients transform, grow, and operate while fostering trust through assurance with our services and solutions, which are made possible by data and technology.

Sustainability

We balance ESG and risk mitigation in our professional services. Our consulting experts make sustainability a business priority with vision and pragmatism.

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

Stay In Touch

Get in touch with our team for customizable services!

rfc logo transparent

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

About Us

We are Ruskin Felix Consulting (RFC), a global strategic advisory firm. For over a decade, we have partnered with clients worldwide to solve complex business and technology challenges. Whether you need strategic advice, market research, or solutions to make important decisions, we’ve got you covered.

RFC Mentorship

At RFC, we believe that every great idea deserves a chance to shine. With our expert guidance, cutting-edge strategies, and meticulous attention to detail, we’ll work hand in hand with you to create strategies and guidance that helps you scale, build and develop your idea into a ready product in the market.