Thailand: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Thailand

After two years of growth, the Thai non-electric motor handtools market decreased by -1.2% to $X in 2022. In general, consumption, however, continues to indicate a abrupt downturn. Non-electric motor handtools consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Electric Motor Handtools Exports

Exports from Thailand

In 2022, approx. X units of handtools, hydraulic or with a self-contained non-electric motor were exported from Thailand; surging by 2.8% against the year before. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 128%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, non-electric motor handtools exports soared to $X in 2022. The total export value increased at an average annual rate of +4.1% from 2012 to 2022; 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 units) was the main destination for non-electric motor handtools exports from Thailand, accounting for a 43% share of total exports. Moreover, non-electric motor handtools exports to Japan exceeded the volume sent to the second major destination, South Korea (X units), fivefold. The third position in this ranking was taken by India (X units), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+1.0% per year) and India (+2.0% per year).

In value terms, Japan ($X) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Thailand, comprising 36% of total exports. The second position in the ranking was held by India ($X), with a 10% share of total exports. It was followed by South Korea, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-0.2% per year) and South Korea (-2.6% per year).

Export Prices by Country

The average non-electric motor handtools export price stood at $X per unit in 2022, surging by 25% against the previous year. In general, the export price, however, showed a pronounced curtailment. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, 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 Brazil ($X per unit), while the average price for exports to Lao People's Democratic Republic ($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 (+8.6%), while the prices for the other major destinations experienced a decline.

Non-Electric Motor Handtools Imports

Imports into Thailand

Non-electric motor handtools imports into Thailand soared to X units in 2022, increasing by 19% against the previous year. Over the period under review, imports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 46%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-electric motor handtools imports fell dramatically to $X in 2022. In general, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2020 when imports increased by 40%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main non-electric motor handtools supplier to Thailand, with a 93% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.1% per year) and Taiwan (Chinese) (-10.9% per year).

In value terms, China ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Thailand, comprising 83% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-8.5% per year) and Taiwan (Chinese) (-13.0% per year).

Import Prices by Country

The average non-electric motor handtools import price stood at $X per unit in 2022, with a decrease of -28.9% against the previous year. Over the period under review, the import price continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by 16%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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