Thailand: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Thailand

The Thai agricultural forestry machinery market amounted to $X in 2022, approximately reflecting the previous year. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.0% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Agricultural Forestry Machinery Production in Thailand

In value terms, agricultural forestry machinery production amounted to $X in 2022 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Agricultural Forestry Machinery Exports

Exports from Thailand

In 2022, shipments abroad of agricultural forestry machinery (lawn or sportsground rollers) increased by 3.3% to X units, rising for the third year in a row after two years of decline. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 196%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, agricultural forestry machinery exports dropped rapidly to $X in 2022. In general, exports showed a strong increase. The pace of growth appeared the most rapid in 2015 when exports increased by 112%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar (X units) was the main destination for agricultural forestry machinery exports from Thailand, with a 36% share of total exports. Moreover, agricultural forestry machinery exports to Myanmar exceeded the volume sent to the second major destination, Cambodia (X units), threefold. The Philippines (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar amounted to +135.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+9.7% per year) and the Philippines (+99.0% per year).

In value terms, Myanmar ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Thailand, comprising 45% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 15% share of total exports. It was followed by Switzerland, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to Myanmar amounted to +94.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+73.5% per year) and Switzerland (+208.5% per year).

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, falling by -31.1% against the previous year. Overall, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 55%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Maldives ($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 Switzerland (-7.8%), while the prices for the other major destinations experienced a decline.

Agricultural Forestry Machinery Imports

Imports into Thailand

In 2022, overseas purchases of agricultural forestry machinery (lawn or sportsground rollers) decreased by -49.4% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports, however, saw prominent growth. The growth pace was the most rapid in 2020 when imports increased by 84% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, agricultural forestry machinery imports fell notably to $X in 2022. Overall, imports, however, showed a slight increase. The pace of growth was the most pronounced in 2018 with an increase of 47%. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

China (X units), India (X units) and the UK (X units) were the main suppliers of agricultural forestry machinery imports to Thailand, with a combined 66% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +84.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to Thailand, comprising 37% of total imports. The second position in the ranking was taken by India ($X), with an 18% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+128.5% per year) and China (+0.3% per year).

Import Prices by Country

The average agricultural forestry machinery import price stood at $X per unit in 2022, falling by -18.4% against the previous year. In general, the import price saw a deep reduction. The growth pace was the most rapid in 2021 when the average import price increased by 41%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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