Thailand: Spark Plug Market 2023

Spark Plug Market Size in Thailand

In 2022, the Thai spark plug market increased by 564% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, showed a abrupt curtailment. Spark plug consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Spark Plug Production in Thailand

In value terms, spark plug production rose sharply to $X in 2022 estimated in export price. Overall, production showed a prominent increase. The growth pace was the most rapid in 2020 when the production volume increased by 54%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Spark Plug Exports

Exports from Thailand

In 2022, approx. X units of sparking plugs were exported from Thailand; almost unchanged from 2021 figures. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 75% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, spark plug exports reached $X in 2022. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 94%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units), the United States (X units) and China (X units) were the main destinations of spark plug exports from Thailand, with a combined 69% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +460.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spark plug exported from Thailand were the United States ($X), China ($X) and Mexico ($X), together accounting for 69% of total exports.

In terms of the main countries of destination, Mexico, with a CAGR of +348.4%, recorded 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 spark plug export price amounted to $X per unit, surging by 3.1% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spark plug export price increased by +55.0% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per unit; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to India ($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 (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Spark Plug Imports

Imports into Thailand

In 2022, supplies from abroad of sparking plugs increased by 6.7% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports, however, showed a slight setback. The most prominent rate of growth was recorded in 2021 with an increase of 19%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, spark plug imports expanded markedly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 14%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and Indonesia (X units) were the main suppliers of spark plug imports to Thailand, with a combined 92% share of total imports. These countries were followed by the United States, which accounted for a further 3.1%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +15.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of sparking plugs to Thailand, comprising 55% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.3% per year) and the United States (+13.4% per year).

Import Prices by Country

In 2022, the average spark plug import price amounted to $X per unit, with an increase of 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2019 an increase of 27% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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