Thailand: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Thailand

The Thai market for electrical lighting or visual signaling equipment for motor vehicles and cycles shrank to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption, however, showed buoyant growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Thailand

In value terms, lighting equipment for motor vehicles production contracted to $X in 2022 estimated in export price. In general, production, however, saw buoyant growth. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Lighting equipment for motor vehicles production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from Thailand

After six years of growth, overseas shipments of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to X units in 2022. In general, exports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then contracted slightly in the following year.

In value terms, lighting equipment for motor vehicles exports amounted to $X in 2022. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for lighting equipment for motor vehicles exports from Thailand, accounting for a X% share of total exports. Moreover, lighting equipment for motor vehicles exports to the United States exceeded the volume sent to the second major destination, Indonesia (X units), sevenfold. The third position in this ranking was held by Argentina (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Argentina (X% per year).

In value terms, the largest markets for lighting equipment for motor vehicles exported from Thailand were the United States ($X), Japan ($X) and Indonesia ($X), together accounting for X% of total exports. Argentina, Malaysia, South Africa, India, Brazil, Mexico, the Philippines, Australia, Spain and France lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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

The average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lighting equipment for motor vehicles export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to France ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into Thailand

In 2022, supplies from abroad of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, lighting equipment for motor vehicles imports dropped modestly to $X in 2022. Overall, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lighting equipment for motor vehicles to Thailand, accounting for a X% share of total imports. Moreover, lighting equipment for motor vehicles imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. Indonesia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).

In value terms, Japan ($X), China ($X) and Malaysia ($X) constituted the largest lighting equipment for motor vehicles suppliers to Thailand, together accounting for X% of total imports. Indonesia, Taiwan (Chinese), Germany, Vietnam and India lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, 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 electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, which is down by X% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lighting equipment for motor vehicles import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2020; however, from 2021 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 Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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