Thailand: Isolating Switch Market 2024

Isolating Switch Market Size in Thailand

The Thai isolating switch market reduced to $X in 2022, with a decrease of -8.6% against the previous year. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -38.7% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Isolating Switch Production in Thailand

In value terms, isolating switch production skyrocketed to $X in 2022 estimated in export price. In general, production showed resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 527%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Isolating Switch Exports

Exports from Thailand

After two years of growth, shipments abroad of isolating switches & make-and-break switches decreased by -6% to X units in 2022. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 110% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, isolating switch exports fell to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 106%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for isolating switch exports from Thailand, accounting for a 64% share of total exports. Moreover, isolating switch exports to the United Arab Emirates exceeded the volume sent to the second major destination, South Africa (X units), fourfold. The third position in this ranking was taken by Japan (X units), with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +138.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+61.4% per year) and Japan (+0.8% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for isolating switches & make-and-break switches exports from Thailand, comprising 68% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.6% share of total exports. It was followed by South Africa, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +136.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.1% per year) and South Africa (+64.1% per year).

Export Prices by Country

In 2022, the average isolating switch export price amounted to $X per unit, with a decrease of -6.2% against the previous year. Overall, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 25% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to South Africa ($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 South Africa (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Isolating Switch Imports

Imports into Thailand

In 2022, the amount of isolating switches & make-and-break switches imported into Thailand dropped notably to X units, with a decrease of -35.7% compared with the previous year. In general, imports, however, enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2016 when imports increased by 73%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, isolating switch imports dropped significantly to $X in 2022. Overall, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 76% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X units) constituted the largest isolating switch supplier to Thailand, with a 43% share of total imports. Moreover, isolating switch imports from South Korea exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. China (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea amounted to +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-8.6% per year) and China (+16.6% per year).

In value terms, South Korea ($X) constituted the largest supplier of isolating switches & make-and-break switches to Thailand, comprising 45% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from South Korea amounted to +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.5% per year) and China (+20.6% per year).

Import Prices by Country

In 2022, the average isolating switch import price amounted to $X per unit, increasing by 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2013 when the average import price increased by 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Japan ($X per unit), while the price for the Netherlands ($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 (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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