ASEAN is a group of ten countries in Southeast Asia with an aim to promote intergovernmental corporation between each other in the region. Any of the countries of the ASEAN has not been affected similarly to the US, China, or a European country due to coronavirus, however; considerable increment in the number of infected people has been witnessed in the region in March 2020. Malaysia, a country with a population of 32 million has registered more than 3,600 by 6th April 2020. Indonesia is the fourth most populated country across the globe and due to this, it is highly vulnerable to the COVID-19 pandemic. By far, around 2,300 cases have been registered in the country. Besides, Singapore has registered around 1,300 cases by 6th April 2020. 

After a sudden spike in cases related to coronavirus, a lockdown was imposed in Malaysia for two weeks on 18th March 2020. On 25th March 2020, the lockdown was extended till 14 April. However, the Indonesian government is not in favor of any lockdown until now to restrict the spread of the pandemic. Instead, the government has opted for the route of large scale social distancing. The country has also announced an emergency fund of $1.5 billion for social assistance and subsidies for low-income workers. Vietnam, one of the top exporters of electric equipment and clothing, has not witnessed a significant number of cases related to coronavirus however the country will witness a downfall of its exports due to global pandemic spread. Moreover, a disruption in the supply chain will also witness in the country. To remain safe a number of manufacturing units have been shut down in the country including TC Motor of Hyundai and Honda Vietnam. 

On the basis of industry verticals, the impact of COVID-19 pandemic in ASEAN is studied into automotive, energy, healthcare, retail & e-commerce, agribusiness & food, aviation, construction, manufacturing, travel & tourism, and other verticals. Aviation, travel & tourism, and construction are among the most affected vertical due to the COVID-19 pandemic in the region. Geographically, the report analyzes the effect of COVID-19 spread on major economies of the region including Malaysia, Singapore, Indonesia, Thailand and the Rest of ASEAN countries. 

The key companies operating in ASEAN getting affected by the COVID-19 pandemic include AirAsia Berhad, Airports of Thailand Public Co. Ltd., Indorama Ventures Public Co. Ltd., Singapore Airlines Ltd., The Siam Cement Group Public Cp. Ltd., Wilmar International Ltd. and so on. Companies operations have been halted or operating at very low capacity due to government guidelines as well as a reduction in the workforce. For instance, on 22nd March 2020, Singapore Airlines announced to reduce its 96% flights till the end of April due to the pandemic. 

Research Methodology

The study on the impact of COVID-19 on the ASEAN industry is incorporated by extensive primary and secondary research conducted by the research team. In secondary research, different approaches have been adopted to derive the market value, market growth rate and analyze trends in the industry due to the COVID-19 pandemic. In the report, the analysis of the country is provided by analyzing various regional players, laws & policies, consumer behavior, macro-economic factors and impact of the pandemic. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures. Besides, an expected recovery timeline of the industry will also be provided with the best- and worst-case scenario which will aid the companies to take their future steps in the ASEAN industry. 

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the ASEAN industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the ASEAN industry.
• Insights about market determinants which are stimulating the ASEAN industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.