Thailand: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Thailand

The Thai grinding and sharpening machine market totaled $X in 2022, approximately reflecting the previous year. In general, consumption posted a buoyant increase. Grinding and sharpening machine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in Thailand

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant increase. The growth pace was the most rapid in 2018 when the production volume increased by 71% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Thailand

In 2022, shipments abroad of grinding and sharpening metal finishing machines increased by 31% to X units, rising for the third consecutive year after two years of decline. Overall, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 351%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, grinding and sharpening machine exports dropped to $X in 2022. Over the period under review, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +101.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 115% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units), Australia (X units) and Lao People's Democratic Republic (X units) were the main destinations of grinding and sharpening machine exports from Thailand, together comprising 53% of total exports. The United States, Myanmar, Israel, Hong Kong SAR, Bangladesh, Malaysia, Germany, Japan, Cambodia and India lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +66.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Germany ($X) constituted the largest markets for grinding and sharpening machine exported from Thailand worldwide, together comprising 77% of total exports. India, Malaysia, Japan, Australia, Israel, Hong Kong SAR, Lao People's Democratic Republic, Myanmar, Cambodia and Bangladesh lagged somewhat behind, together accounting for a further 13%.

In terms of the main countries of destination, Israel, with a CAGR of +52.2%, 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

In 2022, the average grinding and sharpening machine export price amounted to $X per unit, shrinking by -28.5% against the previous year. In general, the export price, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 345%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Bangladesh ($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 Malaysia (+57.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Thailand

Grinding and sharpening machine imports into Thailand expanded significantly to X units in 2022, with an increase of 9.2% against the previous year's figure. In general, imports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 32%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports shrank rapidly to $X in 2022. Overall, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 4%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of grinding and sharpening machine to Thailand, with a 56% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-19.4% per year) and Taiwan (Chinese) (-20.0% per year).

In value terms, Japan ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Thailand, comprising 55% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Switzerland, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at -20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.2% per year) and Switzerland (-4.4% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, with a decrease of -22.3% against the previous year. In general, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2018 an increase of 43%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per unit), while the price for Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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