Thailand: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Thailand

The Thai market for iron or steel gas domestic cooking appliances and plate warmers reduced to $X in 2022, waning by -7.4% against the previous year. Overall, the total consumption indicated a pronounced expansion 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, consumption increased by +18.6% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Thailand

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers fell notably to $X in 2022 estimated in export price. Over the period under review, production, however, posted a moderate increase. The pace of growth appeared the most rapid in 2013 with an increase of 146%. Production of peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Thailand

In 2022, after two years of growth, there was significant decline in overseas shipments of iron or steel gas domestic cooking appliances and plate warmers, when their volume decreased by -7.4% to X units. Over the period under review, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 109%. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers skyrocketed to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 206%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units), Myanmar (X units) and Cambodia (X units) were the main destinations of exports of iron or steel gas domestic cooking appliances and plate warmers from Thailand, together accounting for 70% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +31.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for iron or steel gas domestic cooking appliances and plate warmers exports from Thailand, comprising 61% of total exports. The second position in the ranking was held by Australia ($X), with a 13% share of total exports. It was followed by Myanmar, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+46.5% per year) and Myanmar (+26.7% per year).

Export Prices by Country

The average export price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, growing by 27% against the previous year. Over the period under review, the export price recorded buoyant growth. The pace of growth was the most pronounced in 2015 an increase of 150% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Uganda ($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 Chad (+187.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Thailand

In 2022, purchases abroad of iron or steel gas domestic cooking appliances and plate warmers decreased by -4.3% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 25% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers dropped to $X in 2022. In general, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.7% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 26%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of iron or steel gas domestic cooking appliances and plate warmers to Thailand, accounting for a 93% share of total imports. Moreover, imports of iron or steel gas domestic cooking appliances and plate warmers from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.8%.

In value terms, China ($X) constituted the largest supplier of iron or steel gas domestic cooking appliances and plate warmers to Thailand, comprising 91% of total imports. The second position in the ranking was held by Vietnam ($X), with a 3.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.7%.

Import Prices by Country

The average import price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, remaining stable against the previous year. In general, the import price, however, recorded a mild setback. The growth pace was the most rapid in 2018 when the average import price increased by 24% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Vietnam totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.0%).

Source: IndexBox Platform