Thailand: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Thailand

The Thai market for turbo, rotary and reciporating displacement compressors surged to $X in 2022, jumping by 38% against the previous year. In general, consumption posted strong growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in the immediate term.

Production of Turbo, Rotary and Reciporating Displacement Compressors in Thailand

In value terms, production of turbo, rotary and reciporating displacement compressors reduced notably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild expansion. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Thailand

For the third consecutive year, Thailand recorded growth in overseas shipments of turbo, rotary and reciporating displacement compressors, which increased by 0.1% to X units in 2022. In general, exports recorded a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 66%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors shrank to $X in 2022. Overall, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 188% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and China (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Thailand, together accounting for 44% of total exports. India, South Korea, Mexico, South Africa, Argentina, Indonesia, Singapore, Malaysia, Belgium and Brazil lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +93.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Thailand, comprising 25% of total exports. The second position in the ranking was taken by China ($X), with a 12% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +80.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+42.7% per year) and Japan (-1.8% per year).

Export Prices by Country

In 2022, the average export price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, falling by -8% against the previous year. In general, the export price, however, recorded a measured increase. The pace of growth appeared the most rapid in 2016 an increase of 257%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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 Belgium ($X per unit), while the average price for exports to Argentina ($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 Malaysia (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Thailand

Imports of turbo, rotary and reciporating displacement compressors into Thailand skyrocketed to X units in 2022, surging by 44% on 2021 figures. Overall, imports showed a resilient increase. The growth pace was the most rapid in 2020 when imports increased by 45%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of turbo, rotary and reciporating displacement compressors rose notably to $X in 2022. In general, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 when imports increased by 37% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to Thailand, accounting for a 84% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Japan (X units), tenfold. Indonesia (X units) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+19.5% per year) and Indonesia (+68.2% per year).

In value terms, the largest turbo, rotary and reciporating displacement compressor suppliers to Thailand were Japan ($X), China ($X) and Indonesia ($X), together accounting for 77% of total imports.

Indonesia, with a CAGR of +56.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, dropping by -23.6% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2016 an increase of 33% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 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 Malaysia (+13.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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