Thailand: Lifting Equipment Market 2024

Lifting Equipment Market Size in Thailand

The Thai lifting equipment market contracted to $X in 2022, shrinking by X% against the previous year. Overall, consumption continues to indicate a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Lifting Equipment Production in Thailand

In value terms, lifting equipment production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Lifting equipment production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lifting Equipment Exports

Exports from Thailand

In 2022, overseas shipments of lifting equipment increased by X% to X units, rising for the second year in a row after four years of decline. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, lifting equipment exports soared to $X in 2022. Over the period under review, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for lifting equipment exports from Thailand, with a X% share of total exports. Moreover, lifting equipment exports to China exceeded the volume sent to the second major destination, Singapore (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a X% share.

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

In value terms, China ($X) emerged as the key foreign market for lifting equipment exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with an X% share of total exports. It was followed by Lao People's Democratic Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

In 2022, the average lifting equipment export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, saw a abrupt downturn. Over the period under review, the average export prices attained the peak figure at $X per unit 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 India ($X per unit), while the average price for exports to Israel ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Thailand

In 2022, overseas purchases of lifting equipment decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2021, and then declined dramatically in the following year.

In value terms, lifting equipment imports shrank remarkably to $X in 2022. In general, imports faced a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X units), Italy (X units) and China (X units) were the main suppliers of lifting equipment imports to Thailand, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and the Netherlands ($X) constituted the largest lifting equipment suppliers to Thailand, together comprising X% of total imports.

Among the main suppliers, the Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lifting equipment import price stood at $X per unit in 2022, waning by X% against the previous year. In general, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked at $X per unit in 2016; however, from 2017 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 the Netherlands ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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