Thailand: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Thailand

For the third year in a row, the Thai market for instruments for measuring electrical quantities recorded growth in sales value, which increased by 55% to $X in 2021. Over the period under review, consumption posted buoyant growth. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in years to come.

Production of Instruments for Measuring Electrical Quantities in Thailand

In value terms, instruments for measuring electrical quantities production contracted to $X in 2021 estimated in export price. In general, production, however, posted a slight expansion. The growth pace was the most rapid in 2019 with an increase of 26% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports from Thailand

In 2021, the amount of instruments for measuring electrical quantities exported from Thailand reduced dramatically to X units, shrinking by -29.4% against 2020 figures. Over the period under review, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2016 with an increase of 59%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. Overall, total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +124.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 44%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Japan (X units), Belgium (X units) and the UK (X units) were the main destinations of instruments for measuring electrical quantities exports from Thailand, with a combined 57% share of total exports. Singapore, South Korea, the United States, Australia, Cambodia, Italy, China, Saudi Arabia, Vietnam and Hong Kong SAR lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +73.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for instruments for measuring electrical quantities exported from Thailand were Singapore ($X), Japan ($X) and the United States ($X), with a combined 46% share of total exports. South Korea, China, Australia, Belgium, the UK, Cambodia, Saudi Arabia, Italy, Hong Kong SAR and Vietnam lagged somewhat behind, together accounting for a further 38%.

Saudi Arabia, with a CAGR of +222.1%, saw the highest growth rate of the value of exports, in terms of 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 export price for instruments for measuring electrical quantities amounted to $X per unit, surging by 70% against the previous year. Overall, the export price posted a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Belgium ($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 China (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Thailand

In 2021, overseas purchases of instruments for measuring electrical quantities were finally on the rise to reach X units after four years of decline. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.5% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

China (X units), Japan (X units) and Singapore (X units) were the main suppliers of instruments for measuring electrical quantities imports to Thailand, together comprising 87% of total imports. Germany, Romania and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 6.8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +50.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Singapore ($X) constituted the largest instruments for measuring electrical quantities suppliers to Thailand, together comprising 56% of total imports. These countries were followed by Germany, Taiwan (Chinese) and Romania, which together accounted for a further 9.4%.

Among the main suppliers, Romania, with a CAGR of +57.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, with a decrease of -22.2% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by 23%. The import price peaked at $X per unit in 2020, and then contracted significantly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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