Thailand - Motor Vehicle Engines (Spark-Ignition) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand's Motor Vehicle Engine Exports Shrink by 27%, Dropping to $309 Million in 2023
Thailand Motor Vehicle Engine Exports
After five years of growth, overseas shipments of motor vehicle engines (spark-ignition) decreased by -45.3% to 410K units in 2023. Over the period under review, exports, however, recorded a tangible increase. The growth pace was the most rapid in 2021 with an increase of 58% against the previous year. The exports peaked at 750K units in 2022, and then declined rapidly in the following year.
In value terms, motor vehicle engine exports dropped markedly to $309M (IndexBox estimates) in 2023. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 13% against the previous year. Over the period under review, the exports reached the maximum at $615M in 2014; however, from 2015 to 2023, the exports failed to regain momentum.
| COUNTRY | Export Value of Motor Vehicle Engine in Thailand (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Taiwan (Chinese) | 170 | 211 | 181 | 118 | 103 | 63.5 | 80.7 | 89.2 | 105 | 90.5 | 94.0 |
| Vietnam | 21.7 | 22.9 | 20.3 | 15.9 | 6.8 | 10.3 | 11.6 | 74.6 | 74.7 | 72.0 | 58.5 |
| Malaysia | 145 | 109 | 84.5 | 35.9 | 1.6 | 5.4 | 13.6 | 14.7 | 18.5 | 42.7 | 49.0 |
| Cambodia | 89.8 | 100 | 103 | 104 | 99.2 | 126 | 134 | 109 | 125 | 138 | 48.9 |
| Philippines | 39.7 | 27.7 | 19.9 | 29.0 | 43.2 | 50.0 | 47.0 | 23.0 | 10.1 | 6.8 | 18.0 |
| United Kingdom | 3.9 | 0.1 | 0.1 | 0.4 | 0.4 | 1.5 | 0.9 | 0.8 | 9.1 | 7.2 | 8.6 |
| Indonesia | 61.6 | 66.3 | 42.6 | 31.1 | 12.7 | 15.1 | 6.4 | 3.9 | 11.5 | 7.1 | 6.4 |
| South Africa | 27.4 | 33.4 | 21.6 | 8.7 | 0.2 | 15.6 | 43.7 | 6.2 | 3.9 | 0.4 | 1.2 |
| Others | 38.6 | 45.2 | 89.3 | 62.8 | 78.6 | 88.1 | 85.1 | 56.8 | 65.5 | 57.0 | 24.7 |
| Total | 597 | 615 | 562 | 406 | 345 | 375 | 424 | 378 | 424 | 421 | 309 |
Exports by Country
Cambodia (214K units) was the main destination for motor vehicle engine exports from Thailand, accounting for a 52% share of total exports. Moreover, motor vehicle engine exports to Cambodia exceeded the volume sent to the second major destination, Taiwan (Chinese) (72K units), threefold. Malaysia (35K units) ranked third in terms of total exports with an 8.4% share.
From 2013 to 2023, the average annual rate of growth in terms of volume to Cambodia totaled +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-0.2% per year) and Malaysia (-7.9% per year).
In value terms, Taiwan (Chinese) ($94M), Vietnam ($58M) and Malaysia ($49M) were the largest markets for motor vehicle engine exported from Thailand worldwide, together accounting for 65% of total exports.
Vietnam, with a CAGR of +10.4%, 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 mixed trend patterns.
Exports by Type
Engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 50cc but not exceeding 250cc (234K units), engines (162K units) and engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 250cc but not exceeding 1000cc (14K units) were the main products of motor vehicle engine exports from Thailand, with a combined 99.9% share of total exports.
From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 250cc but not exceeding 1000cc (with a CAGR of +21.5%), while the other products experienced mixed trend patterns.
In value terms, engines ($231M) remains the largest type of motor vehicle engines (spark-ignition) exported from Thailand, comprising 75% of total exports. The second position in the ranking was taken by engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 50cc but not exceeding 250cc ($59M), with a 19% share of total exports. It was followed by engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 250cc but not exceeding 1000cc, with a 6.3% share.
From 2013 to 2023, the average annual rate of growth in terms of the value of engines exports amounted to -7.8%. With regard to the other exported products, the following average annual rates of growth were recorded: engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 50cc but not exceeding 250cc (-2.3% per year) and engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 250cc but not exceeding 1000cc (+16.6% per year).
Export Prices by Country
In 2023, the motor vehicle engine price stood at $754 per unit (FOB, Thailand), with an increase of 34% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The export price peaked at $2.1 thousand per unit in 2015; however, from 2016 to 2023, 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 ($2.7 thousand per unit), while the average price for exports to Cambodia ($229 per unit) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+24.1%), while the prices for the other major destinations experienced mixed trend patterns.
This report provides an in-depth analysis of the motor vehicle engine market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29101100 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity . 1 .000 cm.
- Prodcom 29101200 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity > 1 .000 cm.
Country coverage:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
