Thailand: Tow-Behind Air Compressor Market 2024

Tow-Behind Air Compressor Market Size in Thailand

In 2022, the Thai tow-behind air compressor market increased by 2.5% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 8.3% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Tow-Behind Air Compressor Production in Thailand

In value terms, tow-behind air compressor production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 28% 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.

Tow-Behind Air Compressor Exports

Exports from Thailand

After two years of growth, shipments abroad of air compressors mounted on a wheeled chassis for towing decreased by -37.5% to X units in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 216%. The exports peaked at X units in 2021, and then fell sharply in the following year.

In value terms, tow-behind air compressor exports shrank remarkably to $X in 2022. Overall, exports, however, showed a moderate increase. The pace of growth was the most pronounced in 2013 with an increase of 152% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X units) was the main destination for tow-behind air compressor exports from Thailand, with a 30% share of total exports. Moreover, tow-behind air compressor exports to Singapore exceeded the volume sent to the second major destination, Myanmar (X units), threefold. Malaysia (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 Singapore amounted to +20.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+32.2% per year) and Malaysia (+25.6% per year).

In value terms, the largest markets for tow-behind air compressor exported from Thailand were Singapore ($X), Vietnam ($X) and Myanmar ($X), with a combined 58% share of total exports. Malaysia, Hong Kong SAR, Lao People's Democratic Republic, South Korea, the Philippines, India, the United States and France lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +83.6%, recorded the highest rates of growth with regard to 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 tow-behind air compressor export price amounted to $X per unit, increasing by 34% against the previous year. Overall, the export price, however, continues to indicate a deep setback. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Vietnam ($X per unit), while the average price for exports to France ($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 Hong Kong SAR (+30.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tow-Behind Air Compressor Imports

Imports into Thailand

In 2022, after three years of growth, there was significant decline in overseas purchases of air compressors mounted on a wheeled chassis for towing, when their volume decreased by -14.5% to X units. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +140.3% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 65% against the previous year. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, tow-behind air compressor imports contracted dramatically to $X in 2022. In general, imports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 70% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of tow-behind air compressor to Thailand, with a 92% share of total imports. Moreover, tow-behind air compressor imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-0.1% per year) and Japan (-17.5% per year).

In value terms, China ($X) constituted the largest supplier of air compressors mounted on a wheeled chassis for towing to Thailand, comprising 48% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-12.4% per year) and Malaysia (+1.7% per year).

Import Prices by Country

In 2022, the average tow-behind air compressor import price amounted to $X per unit, which is down by -35% against the previous year. In general, the import price showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 when the average import price increased by 11%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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