Thailand: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Thailand

The Thai heat exchange unit market contracted to $X in 2022, waning by -4.4% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Heat Exchange Unit Production in Thailand

In value terms, heat exchange unit production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 43% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Heat Exchange Unit Exports

Exports from Thailand

Heat exchange unit exports from Thailand shrank to X units in 2022, reducing by -9.1% on 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 60%. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, heat exchange unit exports surged to $X in 2022. Overall, total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +44.9% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 60% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for heat exchange unit exports from Thailand, accounting for a 43% share of total exports. Moreover, heat exchange unit exports to Japan exceeded the volume sent to the second major destination, Argentina (X units), fourfold. The third position in this ranking was held by Indonesia (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+47.6% per year) and Indonesia (+21.4% per year).

In value terms, Japan ($X) remains the key foreign market for heat exchange units exports from Thailand, comprising 44% of total exports. The second position in the ranking was taken by Argentina ($X), with a 13% share of total exports. It was followed by Indonesia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+56.2% per year) and Indonesia (+23.8% per year).

Export Prices by Country

The average heat exchange unit export price stood at $X per unit in 2022, growing by 35% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat exchange unit export price increased by +144.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 37% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Malaysia ($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 the United Arab Emirates (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Thailand

After four years of growth, supplies from abroad of heat exchange units decreased by -4.9% to X units in 2022. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 81% against the previous year. Over the period under review, imports attained the peak figure at X units in 2021, and then contracted in the following year.

In value terms, heat exchange unit imports dropped to $X in 2022. Overall, imports, however, continue to indicate a modest expansion. The pace of growth appeared the most rapid in 2014 with an increase of 75% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest heat exchange unit supplier to Thailand, accounting for a 52% share of total imports. Moreover, heat exchange unit 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 South Korea (X units), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.7% per year) and South Korea (-4.5% per year).

In value terms, China ($X), South Korea ($X) and Japan ($X) were the largest heat exchange unit suppliers to Thailand, together accounting for 59% of total imports. The United States, Germany, France, Spain and Taiwan (Chinese) lagged somewhat behind, together comprising a further 14%.

Spain, with a CAGR of +28.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average heat exchange unit import price stood at $X per unit in 2022, leveling off at the previous year. Overall, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Spain ($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 (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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