Thailand: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Thailand

The Thai cranks and crankshafts market reduced markedly to $X in 2022, waning by -20.4% against the previous year. Overall, consumption saw a abrupt contraction. Cranks and crankshafts consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in Thailand

In value terms, cranks and crankshafts production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production faced a deep slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 46% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cranks And Crankshafts Exports

Exports from Thailand

In 2022, approx. X tons of cranks and crankshafts were exported from Thailand; surging by 13% against the previous year. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, cranks and crankshafts exports shrank sharply to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 31% 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

Japan (X tons) was the main destination for cranks and crankshafts exports from Thailand, with a 43% share of total exports. Moreover, cranks and crankshafts exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. China (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+13.0% per year) and China (+15.2% per year).

In value terms, Japan ($X), Indonesia ($X) and Malaysia ($X) appeared to be the largest markets for cranks and crankshafts exported from Thailand worldwide, together comprising 53% of total exports. China, Vietnam, Pakistan, India, Brazil, Germany, the United States, Singapore and the Philippines lagged somewhat behind, together comprising a further 31%.

Among the main countries of destination, Pakistan, with a CAGR of +22.8%, 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

The average cranks and crankshafts export price stood at $X per ton in 2022, falling by -28.4% against the previous year. Overall, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-3.4%), while the prices for the other major destinations experienced a decline.

Cranks And Crankshafts Imports

Imports into Thailand

In 2022, overseas purchases of cranks and crankshafts increased by 2.2% to X tons, rising for the third consecutive year after two years of decline. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 80%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cranks and crankshafts imports contracted to $X in 2022. Over the period under review, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of cranks and crankshafts imports to Thailand, together comprising 85% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +24.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cranks and crankshafts suppliers to Thailand were Japan ($X), China ($X) and India ($X), together comprising 73% of total imports. The UK, Indonesia, Taiwan (Chinese), the United States, South Korea and South Africa lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, the UK, with a CAGR of +6.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cranks and crankshafts import price stood at $X per ton in 2022, with a decrease of -8.9% against the previous year. Overall, the import price faced a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 56%. The import price peaked at $X per ton 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 the UK ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :