Thailand: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2025

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in Thailand

In 2021, the Thai market for electrical boards, panels, consoles, desks and cabinets decreased by -4.8% to $X, falling for the second year in a row after five years of growth. Over the period under review, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.4% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in Thailand

In value terms, electric board, desk and panel production expanded remarkably to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 37%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports from Thailand

In 2021, the amount of electrical boards, panels, consoles, desks and cabinets exported from Thailand surged to X units, picking up by 26% compared with 2020 figures. Over the period under review, total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +54.5% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 31%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, electric board, desk and panel exports skyrocketed to $X in 2021. Overall, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +85.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 43%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for electric board, desk and panel exports from Thailand, with a 77% share of total exports. Moreover, electric board, desk and panel exports to the United States exceeded the volume sent to the second major destination, Slovakia (X units), more than tenfold. The third position in this ranking was held by the Netherlands (X units), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+154.0% per year) and the Netherlands (-13.5% per year).

In value terms, the United States ($X), Malaysia ($X) and Japan ($X) appeared to be the largest markets for electric board, desk and panel exported from Thailand worldwide, together accounting for 80% of total exports. Slovakia, the Netherlands, the UK and Singapore lagged somewhat behind, together accounting for a further 6.2%.

In terms of the main countries of destination, Slovakia, with a CAGR of +142.0%, saw the highest growth rate of 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 2021, the average export price for electrical boards, panels, consoles, desks and cabinets amounted to $X per unit, rising by 2.3% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 19% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports into Thailand

In 2021, after four years of growth, there was significant decline in supplies from abroad of electrical boards, panels, consoles, desks and cabinets, when their volume decreased by -13% to X units. In general, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020, and then declined in the following year.

In value terms, electric board, desk and panel imports stood at $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.6% against 2015 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electric board, desk and panel to Thailand, accounting for a 82% share of total imports. Moreover, electric board, desk and panel imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. India (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.9% per year) and India (+5.3% per year).

In value terms, China ($X) constituted the largest supplier of electrical boards, panels, consoles, desks and cabinets to Thailand, comprising 62% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports. It was followed by Italy, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.2% per year) and Italy (-5.3% per year).

Import Prices by Country

In 2021, the average import price for electrical boards, panels, consoles, desks and cabinets amounted to $X per unit, rising by 21% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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