Thailand: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Thailand

The Thai grinding and sharpening machine market skyrocketed to $X in 2022, rising by X% against the previous year. Overall, consumption showed a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Production of Grinding And Sharpening Metal Finishing Machines in Thailand

In value terms, grinding and sharpening machine production rose markedly to $X in 2022 estimated in export price. In general, production saw buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Thailand

In 2022, the amount of grinding and sharpening metal finishing machines exported from Thailand shrank notably to X units, reducing by X% against the previous year's figure. Over the period under review, exports continue to indicate a mild reduction. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports fell to $X in 2022. In general, total exports indicated a modest expansion 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), the United States (X units) and Australia (X units) were the main destinations of grinding and sharpening machine exports from Thailand, with a combined X% share of total exports. Malaysia, Germany, India, the UK, Japan, Lao People's Democratic Republic, South Korea, the Netherlands and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for grinding and sharpening machine exported from Thailand were China ($X), the United States ($X) and Germany ($X), together comprising X% of total exports. South Korea, India, Malaysia, Japan, Australia, Taiwan (Chinese), the UK, Lao People's Democratic Republic and the Netherlands lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price posted a temperate expansion. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 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 South Korea ($X per unit), while the average price for exports to Lao People's Democratic Republic ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Thailand

In 2022, overseas purchases of grinding and sharpening metal finishing machines increased by X% to X units, rising for the fourth year in a row after two years of decline. In general, imports showed a mild increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grinding and sharpening machine imports reduced to $X in 2022. Over the period under review, imports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of grinding and sharpening machine to Thailand, accounting for a X% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The third position in this ranking was held by the Netherlands (X units), with a X% share.

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

In value terms, Japan ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Thailand, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with an 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 Taiwan (Chinese) (X% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, shrinking by X% against the previous year. Over the period under review, the import price saw a dramatic downturn. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 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 Australia ($X per unit), while the price for Myanmar ($X per unit) 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 more modest paces of growth.

Source: IndexBox Platform

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