Thailand: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Thailand

The Thai fuel or lubricating pump market surged to $X in 2021, increasing by 59% against the previous year. Over the period under review, consumption continues to indicate a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Thailand

In value terms, fuel or lubricating pump production shrank to $X in 2021 estimated in export price. In general, production saw strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 168%. Fuel or lubricating pump production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Thailand

In 2021, overseas shipments of fuel, lubricating or cooling-medium pumps for internal combustion engines decreased by -12.4% to X units, falling for the fourth consecutive year after six years of growth. In general, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 54% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, fuel or lubricating pump exports surged to $X in 2021. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 33% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and China (X units) were the main destinations of fuel or lubricating pump exports from Thailand, with a combined 48% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +25.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fuel or lubricating pump exported from Thailand were Japan ($X), the United States ($X) and China ($X), together comprising 50% of total exports. These countries were followed by India, Argentina, Indonesia, Brazil, the Netherlands, Mexico, Malaysia, South Africa, the United Arab Emirates and Cambodia, which together accounted for a further 43%.

The Netherlands, with a CAGR of +47.1%, 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

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, jumping by 33% against the previous year. In general, the export price recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 an increase of 86% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per unit), while the average price for exports to the United Arab Emirates ($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 Argentina (+25.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Thailand

In 2021, overseas purchases of fuel, lubricating or cooling-medium pumps for internal combustion engines were finally on the rise to reach X units after four years of decline. Overall, imports, however, saw a abrupt decline. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, fuel or lubricating pump imports soared to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Vietnam (X units) were the main suppliers of fuel or lubricating pump imports to Thailand, with a combined 75% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +96.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Thailand, comprising 40% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Germany, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.9% per year) and Germany (+7.7% per year).

Import Prices by Country

In 2021, the average fuel or lubricating pump import price amounted to $X per unit, with an increase of 3.8% against the previous year. In general, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuel or lubricating pump import price increased by +84.6% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 44% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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