Thailand: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Thailand

The Thai market for diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022, increasing by 36% against the previous year. In general, consumption recorded prominent growth. Consumption of peaked in 2022 and is likely to see steady growth in the near future.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Thailand

In value terms, production of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022 estimated in export price. Overall, production saw a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 101% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth remained at a somewhat lower figure.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Thailand

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were exported from Thailand; surging by 2.2% on the previous year's figure. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2016 when exports increased by 218% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. In general, exports recorded a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 160% against the previous year. Over the period under review, the exports of hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Thailand, accounting for a 44% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, China (X units), twofold. The third position in this ranking was taken by Lao People's Democratic Republic (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +131.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+67.0% per year) and Lao People's Democratic Republic (+21.0% per year).

In value terms, the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Thailand were the United States ($X), Lao People's Democratic Republic ($X) and Cambodia ($X), with a combined 72% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +104.5%, 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

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, picking up by 55% against the previous year. Overall, the export price, however, recorded a deep downturn. The growth pace was the most rapid in 2017 when the average export price increased by 248% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per unit), while the average price for exports to Myanmar ($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 Myanmar (-0.7%), while the prices for the other major destinations experienced a decline.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Thailand

In 2022, overseas purchases of diesel engines (other than for motor vehicles and aircraft) increased by 82% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 101% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 72% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest diesel engines (other than for motor vehicles and aircraft) supplier to Thailand, with a 61% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. The third position in this ranking was held by China (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+31.8% per year) and China (+30.1% per year).

In value terms, Japan ($X), the United States ($X) and India ($X) appeared to be the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Thailand, with a combined 75% share of total imports.

Among the main suppliers, India, with a CAGR of +34.7%, 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

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, shrinking by -31.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt slump. The growth pace was the most rapid in 2013 an increase of 91%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average 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 the UK ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+38.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :