Thailand: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Thailand

In 2022, the Thai internal combustion engine equipment market decreased by X% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, showed a deep slump. Internal combustion engine equipment consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Thailand

In value terms, internal combustion engine equipment production reduced modestly to $X in 2022 estimated in export price. In general, production, however, showed a slight decrease. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Internal combustion engine equipment production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Equipment For Internal Combustion Engines

Exports from Thailand

In 2022, approx. X units of equipment for internal combustion engines were exported from Thailand; shrinking by X% compared with 2021 figures. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then declined modestly in the following year.

In value terms, internal combustion engine equipment exports declined notably to $X in 2022. Over the period under review, exports, however, saw prominent growth. The growth pace was the most rapid in 2015 with an increase of X%. The exports peaked at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Indonesia (X units) was the main destination for internal combustion engine equipment exports from Thailand, with a X% share of total exports. Moreover, internal combustion engine equipment exports to Indonesia exceeded the volume sent to the second major destination, the Netherlands (X units), eightfold. Vietnam (X units) ranked third in terms of total exports with a X% share.

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

In value terms, Vietnam ($X), the Netherlands ($X) and Indonesia ($X) constituted the largest markets for internal combustion engine equipment exported from Thailand worldwide, with a combined X% share of total exports. Germany, Japan, Brazil, the Philippines, Cambodia and India lagged somewhat behind, together comprising a further X%.

Germany, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 internal combustion engine equipment export price amounted to $X per unit, falling by X% against the previous year. Overall, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a 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 Vietnam ($X per unit), while the average price for exports to Indonesia ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Thailand

Internal combustion engine equipment imports into Thailand shrank to X units in 2022, reducing by X% on the previous year's figure. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, internal combustion engine equipment imports reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest internal combustion engine equipment supplier to Thailand, accounting for a X% share of total imports. Moreover, internal combustion engine equipment imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold. India (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 Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

In value terms, Japan ($X) constituted the largest supplier of equipment for internal combustion engines to Thailand, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

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

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price showed a slight decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform