Thailand: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Thailand

The Thai machine-tool for working metal market stood at $X in 2021, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a abrupt setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Machine Tools For Working Metal

Exports from Thailand

In 2021, the amount of machine tools for working metal exported from Thailand contracted rapidly to X units, declining by -45.4% compared with the year before. In general, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2015 when exports increased by 33% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, machine-tool for working metal exports fell modestly to $X in 2021. Over the period under review, exports saw a drastic downturn. The growth pace was the most rapid in 2015 when exports increased by 69% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X units), China (X units) and South Africa (X units) were the main destinations of machine-tool for working metal exports from Thailand, together accounting for 47% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +71.5%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Mexico ($X) constituted the largest markets for machine-tool for working metal exported from Thailand worldwide, with a combined 46% share of total exports. These countries were followed by India, the UK, Pakistan, Taiwan (Chinese), South Africa, Vietnam, Australia, Malaysia, Lao People's Democratic Republic and Singapore, which together accounted for a further 32%.

South Africa, with a CAGR of +65.5%, recorded 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 machine-tool for working metal export price amounted to $X per unit, increasing by 78% against the previous year. In general, the export price posted resilient growth. 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 foreign markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to South Africa ($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 Taiwan (Chinese) (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Thailand

In 2021, the amount of machine tools for working metal imported into Thailand skyrocketed to X units, growing by 19% on the previous year's figure. Overall, imports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2020 with an increase of 41%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working metal imports dropped to $X in 2021. Over the period under review, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2020 when imports increased by 23% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest machine-tool for working metal supplier to Thailand, with a 66% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. The third position in this ranking was taken by Vietnam (X units), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+1.4% per year) and Vietnam (+37.7% per year).

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) appeared to be the largest machine-tool for working metal suppliers to Thailand, with a combined 69% share of total imports. South Korea, Vietnam and India lagged somewhat behind, together comprising a further 15%.

India, with a CAGR of +14.7%, recorded 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 machine-tool for working metal import price stood at $X per unit in 2021, with a decrease of -25.3% against the previous year. In general, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Japan (+18.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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