Thailand: Power Tool Market 2024

Power Tool Market Size in Thailand

The Thai power tool market skyrocketed to $X in 2021, growing by 16% against the previous year. The market value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Power Tool Production in Thailand

In value terms, power tool production expanded notably to $X in 2021 estimated in export price. Overall, production continues to indicate a modest increase. The growth pace was the most rapid in 2013 when the production volume increased by 16%. Power tool production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Power Tool Exports

Exports from Thailand

For the sixth consecutive year, Thailand recorded growth in overseas shipments of power tools, which increased by 62% to X units in 2021. Overall, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 162%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, power tool exports skyrocketed to $X in 2021. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 163% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia (X units), the United States (X units) and Vietnam (X units) were the main destinations of power tool exports from Thailand.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +124.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the United States ($X) and Vietnam ($X) were the largest markets for power tool exported from Thailand worldwide, together accounting for 72% of total exports.

The United States, with a CAGR of +98.0%, saw 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 power tool export price stood at $X per unit in 2021, dropping by -9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 72% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Indonesia ($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 the United States (-10.4%), while the prices for the other major destinations experienced a decline.

Power Tool Imports

Imports into Thailand

In 2021, supplies from abroad of power tools increased by 34% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 263% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, power tool imports surged to $X in 2021. Overall, imports, however, continue to indicate a noticeable downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of power tool to Thailand, accounting for a 67% share of total imports. It was followed by Malaysia (X units), with a 1.2% share of total imports. The third position in this ranking was held by Japan (X units), with a 1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.8% per year) and Japan (-17.2% per year).

In value terms, China ($X) constituted the largest supplier of power tools to Thailand, comprising 80% of total imports. The second position in the ranking was held by Japan ($X), with a 7.1% share of total imports. It was followed by Malaysia, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-11.1% per year) and Malaysia (-5.2% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, rising by 3.4% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2016 when the average import price increased by 68% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average 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 Germany ($X per unit), while the price for China ($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 (+11.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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