Thailand: Circuit Breaker Market 2024

Circuit Breaker Market Size in Thailand

The Thai circuit breaker market expanded rapidly to $X in 2022, increasing by 9.4% against the previous year. In general, consumption posted a buoyant expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Circuit Breaker Production in Thailand

In value terms, circuit breaker production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 -0.2% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 45%. Circuit breaker production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Circuit Breaker Exports

Exports from Thailand

After two years of growth, shipments abroad of automatic circuit breakers decreased by -13.3% to X units in 2022. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2014 when exports increased by 160% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, circuit breaker exports fell to $X in 2022. In general, exports, however, showed a pronounced expansion. The growth pace was the most rapid in 2014 with an increase of 96%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X units), Japan (X units) and Cambodia (X units) were the main destinations of circuit breaker exports from Thailand, together accounting for 60% of total exports. Indonesia, Norway, the United Arab Emirates, Poland and China lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +284.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for circuit breaker exported from Thailand were Japan ($X), Singapore ($X) and Indonesia ($X), with a combined 72% share of total exports. The United Arab Emirates, Norway, China, Poland and Cambodia lagged somewhat behind, together accounting for a further 16%.

Poland, with a CAGR of +328.0%, recorded the highest growth rate of 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

In 2022, the average circuit breaker export price amounted to $X per unit, growing by 9.1% against the previous year. In general, the export price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by 37% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a 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 Japan ($X per unit), while the average price for exports to Cambodia ($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 Poland (+11.5%), while the prices for the other major destinations experienced mixed trend patterns.

Circuit Breaker Imports

Imports into Thailand

In 2022, after two years of growth, there was decline in supplies from abroad of automatic circuit breakers, when their volume decreased by -3.4% to X units. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 40%. Over the period under review, imports reached the maximum at X units in 2021, and then dropped slightly in the following year.

In value terms, circuit breaker imports reached $X in 2022. Overall, imports saw a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of 13% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of circuit breaker to Thailand, accounting for a 61% share of total imports. Moreover, circuit breaker imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. India (X units) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.3% per year) and India (+13.7% per year).

In value terms, China ($X) constituted the largest supplier of automatic circuit breakers to Thailand, comprising 36% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.9% per year) and Italy (+3.6% per year).

Import Prices by Country

In 2022, the average circuit breaker import price amounted to $X per unit, increasing by 8.1% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced reduction. The growth pace was the most rapid in 2019 an increase of 20%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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