Thailand: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Thailand

After nine years of decline, the Thai motor vehicle engine market increased by X% to $X in 2022. Overall, consumption, however, continues to indicate a abrupt decrease. 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.

Motor Vehicle Engine Production in Thailand

In value terms, motor vehicle engine production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Motor Vehicle Engine Exports

Exports from Thailand

In 2022, shipments abroad of motor vehicle engines (spark-ignition) increased by X% to X units, rising for the fifth consecutive year after three years of decline. In general, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, motor vehicle engine exports reduced slightly to $X in 2022. Overall, exports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X units) was the main destination for motor vehicle engine exports from Thailand, with a X% share of total exports. Moreover, motor vehicle engine exports to Cambodia exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), threefold. The third position in this ranking was taken by Malaysia (X units), with a X% share.

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

In value terms, the largest markets for motor vehicle engine exported from Thailand were Cambodia ($X), Taiwan (Chinese) ($X) and Vietnam ($X), with a combined X% share of total exports. Malaysia, Italy, Indonesia and the Philippines lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Italy, with a CAGR of X%, recorded the highest rates of growth with regard to 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 motor vehicle engine export price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price recorded a deep slump. The growth pace was the most rapid in 2015 an increase of X%. The export price peaked 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 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 Italy (X%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Vehicle Engine Imports

Imports into Thailand

In 2022, approx. X units of motor vehicle engines (spark-ignition) were imported into Thailand; with an increase of X% on 2021 figures. Overall, total imports indicated pronounced 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, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, motor vehicle engine imports surged to $X in 2022. Over the period under review, imports, however, saw a noticeable setback. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), the United States (X units) and China (X units) were the main suppliers of motor vehicle engine imports to Thailand, together comprising X% of total imports. India, Indonesia, Vietnam, the Philippines and Italy lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to Thailand, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

The average motor vehicle engine import price stood at $X per unit in 2022, declining by X% against the previous year. In general, the import price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 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 stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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