Thailand: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Thailand

The Thai interchangeable tool market reduced to $X in 2022, which is down by X% against the previous year. In general, the total consumption indicated mild growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Interchangeable tool consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Interchangeable Tool Production in Thailand

In value terms, interchangeable tool production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Interchangeable Tool Exports

Exports from Thailand

In 2022, exports of interchangeable tools for hand tools from Thailand fell to X tons, dropping by X% on the previous year. Overall, total exports indicated moderate growth 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, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, interchangeable tool exports dropped 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 throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of interchangeable tool exports from Thailand, together accounting for X% of total exports. India, Malaysia, Indonesia, Hong Kong SAR, South Korea, Singapore, China, Cambodia, Mexico and Brazil lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for interchangeable tools for hand tools exports from Thailand, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price recorded a noticeable slump. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Thailand

In 2022, overseas purchases of interchangeable tools for hand tools decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then declined markedly in the following year.

In value terms, interchangeable tool imports dropped to $X in 2022. In general, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable tool to Thailand, with a X% share of total imports. Moreover, interchangeable tool imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the largest interchangeable tool suppliers to Thailand, together comprising X% of total imports.

China, with a CAGR of X%, saw 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 interchangeable tool import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average 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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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