Thailand: Accumulator Market 2024

Accumulator Market Size in Thailand

The Thai accumulator market surged to $X in 2022, increasing by X% against the previous year. Overall, consumption saw strong growth. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Accumulator Production in Thailand

In value terms, accumulator production rose sharply to $X in 2022 estimated in export price. In general, production, however, posted buoyant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Accumulator Exports

Exports from Thailand

After two years of growth, shipments abroad of electric accumulators decreased by X% to X units in 2022. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then fell in the following year.

In value terms, accumulator exports reduced slightly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for accumulator exports from Thailand, accounting for a X% share of total exports. Moreover, accumulator exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X units), sevenfold. The third position in this ranking was taken by Singapore (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Singapore (X% per year).

In value terms, the largest markets for accumulator exported from Thailand were Malaysia ($X), Vietnam ($X) and Singapore ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average accumulator export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced a decline.

Accumulator Imports

Imports into Thailand

In 2022, supplies from abroad of electric accumulators increased by X% to X units, rising for the third consecutive year after four years of decline. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, accumulator imports surged to $X in 2022. Over the period under review, imports saw a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of accumulator to Thailand, with a X% share of total imports. Moreover, accumulator imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Indonesia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of electric accumulators to Thailand, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Malaysia (X% per year).

Import Prices by Country

The average accumulator import price stood at $X per unit in 2022, which is down by X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, accumulator import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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