Thailand: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Thailand

The Thai market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021, jumping by 39% against the previous year. Over the period under review, consumption posted a buoyant expansion. Consumption of peaked in 2021 and is expected to retain growth in years to come.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Thailand

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight shrinkage. The growth pace was the most rapid in 2015 when the production volume increased by 30%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Thailand

In 2021, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, faced a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 30%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021. In general, exports, however, continue to indicate a slight curtailment. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Thailand, with a 22% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. Finland (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-18.4% per year) and Finland (-2.8% per year).

In value terms, the United States ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Thailand, comprising 31% of total exports. The second position in the ranking was taken by Belgium ($X), with a 13% share of total exports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-0.3% per year) and Japan (-2.8% per year).

Export Prices by Country

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, surging by 21% against the previous year. In general, the export price continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 228% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+25.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Thailand

In 2021, after two years of decline, there was significant growth in overseas purchases of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume increased by 26% to X tons. Over the period under review, imports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 81% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Thailand, accounting for a 62% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.8% per year) and Japan (-16.7% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Thailand, together accounting for 93% of total imports. These countries were followed by Germany, Canada, Italy and South Korea, which together accounted for a further 5.7%.

Among the main suppliers, Canada, with a CAGR of +105.1%, saw the highest rates of growth with regard to 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 internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, picking up by 28% against the previous year. In general, the import price saw a buoyant expansion. The pace of growth appeared the most rapid in 2020 an increase of 58%. The import price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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