Thailand: Ship Propeller Market 2024

Ship Propeller Market Size in Thailand

In 2022, the Thai ship propeller market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, recorded a deep contraction. Ship propeller consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ship Propeller Production in Thailand

In value terms, ship propeller production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Ship Propeller Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in overseas shipments of ships or boats propellers and blades therefor, when their volume decreased by X% to X units. Overall, exports saw a pronounced contraction. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ship propeller exports reduced to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units), Myanmar (X units) and Bangladesh (X units) were the main destinations of ship propeller exports from Thailand, together accounting for X% of total exports. The UK, Peru, Chile, the United States, Cambodia and Singapore lagged somewhat behind, together comprising a further X%.

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

In value terms, Japan ($X) remains the key foreign market for ships or boats propellers and blades therefor exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with an X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and the UK (X% per year).

Export Prices by Country

The average ship propeller export price stood at $X per unit in 2022, rising by X% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price 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. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat 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 Singapore ($X per unit), while the average price for exports to Cambodia ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ship Propeller Imports

Imports into Thailand

Ship propeller imports into Thailand surged to X units in 2022, increasing by X% on the previous year's figure. Over the period under review, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, ship propeller imports soared to $X in 2022. Overall, imports, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Taiwan (Chinese) (X units) were the main suppliers of ship propeller imports to Thailand, together accounting for X% of total imports. The UK, Vietnam, the United States, Australia, the Netherlands and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest ship propeller suppliers to Thailand were Taiwan (Chinese) ($X), Japan ($X) and China ($X), together accounting for X% of total imports. The United States, the UK, Australia, Vietnam, Germany and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, saw 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

In 2022, the average ship propeller import price amounted to $X per unit, increasing by X% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price 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, ship propeller import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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