Thailand: Market for Steering Wheels, Steering Columns And Steering Boxes 2024

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Thailand

The Thai steering wheels and columns market shrank to $X in 2022, declining by -1.7% against the previous year. In general, consumption, however, saw a perceptible slump. Steering wheels and columns consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Steering Wheels, Steering Columns And Steering Boxes in Thailand

In value terms, steering wheels and columns production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible contraction. The growth pace was the most rapid in 2018 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Thailand

In 2022, approx. X tons of steering wheels, steering columns and steering boxes were exported from Thailand; with a decrease of -1.6% against the year before. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, steering wheels and columns exports declined to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 28% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), the United States (X tons) and Indonesia (X tons) were the main destinations of steering wheels and columns exports from Thailand, together comprising 54% of total exports. Mexico, Pakistan, South Africa, Argentina, Brazil, India, Japan, the Czech Republic, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +239.5%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United States ($X) and Indonesia ($X) constituted the largest markets for steering wheels and columns exported from Thailand worldwide, together comprising 50% of total exports. Pakistan, South Africa, Brazil, India, Mexico, Vietnam, Japan, Argentina, the Czech Republic and the Philippines lagged somewhat behind, together comprising a further 43%.

Mexico, with a CAGR of +227.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Thailand

In 2022, overseas purchases of steering wheels, steering columns and steering boxes increased by 6.7% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +35.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 35% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, steering wheels and columns imports stood at $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +36.1% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 33%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of steering wheels and columns imports to Thailand, together comprising 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +31.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steering wheels and columns suppliers to Thailand were China ($X), Japan ($X) and Germany ($X), with a combined 82% share of total imports. The Philippines, Indonesia, Malaysia and India lagged somewhat behind, together accounting for a further 11%.

Indonesia, with a CAGR of +23.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steering wheels and columns import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a mild contraction. The pace of growth appeared the most rapid in 2016 an increase of 2.3%. The import price peaked at $X per ton 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 Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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