Thailand: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Thailand

The Thai machinery electrical parts market dropped dramatically to $X in 2022, waning by X% against the previous year. Overall, consumption continues to indicate a abrupt shrinkage. Machinery electrical parts consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Machinery Electrical Parts Production in Thailand

In value terms, machinery electrical parts production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports from Thailand

In 2022, after three years of decline, there was significant growth in shipments abroad of electrical parts of machinery or apparatus, when their volume increased by X% to X tons. Overall, exports, however, saw a pronounced decrease. The growth pace was the most rapid in 2018 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, machinery electrical parts exports reduced modestly to $X in 2022. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for machinery electrical parts exports from Thailand, with a X% share of total exports. Moreover, machinery electrical parts exports to Japan exceeded the volume sent to the second major destination, China (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the United States (X% per year).

In value terms, the largest markets for machinery electrical parts exported from Thailand were Malaysia ($X), China ($X) and the United States ($X), together accounting for X% of total exports. Japan, Germany, Hong Kong SAR, Singapore, Poland, India and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price showed a perceptible decline. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

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

Machinery Electrical Parts Imports

Imports into Thailand

In 2022, after two years of growth, there was significant decline in overseas purchases of electrical parts of machinery or apparatus, when their volume decreased by X% to X tons. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, machinery electrical parts imports contracted dramatically to $X in 2022. Overall, imports showed a dramatic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at $X in 2021, and then reduced rapidly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest machinery electrical parts supplier to Thailand, with a X% share of total imports. Moreover, machinery electrical parts imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

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

In value terms, the United States ($X), Japan ($X) and China ($X) constituted the largest machinery electrical parts suppliers to Thailand, together comprising X% of total imports. These countries were followed by Australia, which accounted for a further X%.

Australia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average machinery electrical parts import price amounted to $X per ton, declining by X% against the previous year. In general, the import price recorded a significant curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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