Thailand: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Thailand

The Thai electrical circuit apparatus market rose modestly to $X in 2021, increasing by 4.3% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Electrical circuit apparatus consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Production in Thailand

In value terms, electrical circuit apparatus production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 21% against the previous year. Electrical circuit apparatus production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Electrical Circuit Apparatus Exports

Exports from Thailand

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection increased by 56% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for electrical circuit apparatus exports from Thailand, with a 21% share of total exports. Moreover, electrical circuit apparatus exports to Japan exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was taken by China (X tons), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+6.9% per year) and China (+7.6% per year).

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) were the largest markets for electrical circuit apparatus exported from Thailand worldwide, with a combined 41% share of total exports. Malaysia, Singapore, the United States, Vietnam, Indonesia, India, South Korea, the Philippines, the United Arab Emirates, Cambodia, Brazil and Saudi Arabia lagged somewhat behind, together comprising a further 46%.

Among the main countries of destination, Cambodia, with a CAGR of +20.6%, 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 electrical circuit apparatus export price stood at $X per ton in 2021, with a decrease of -7.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 23% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Thailand

In 2021, imports of electrical apparatus for circuit connection, switching and protection into Thailand surged to X tons, growing by 30% on the previous year's figure. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, electrical circuit apparatus imports surged to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electrical circuit apparatus to Thailand, accounting for a 50% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.2% per year) and South Korea (+2.1% per year).

In value terms, China ($X), Japan ($X) and Malaysia ($X) constituted the largest electrical circuit apparatus suppliers to Thailand, with a combined 69% share of total imports. These countries were followed by Germany, South Korea, Vietnam, Taiwan (Chinese), Indonesia, India and Italy, which together accounted for a further 16%.

Vietnam, with a CAGR of +20.4%, 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

The average electrical circuit apparatus import price stood at $X per ton in 2021, surging by 15% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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