Thailand: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in Thailand

The Thai air or gas liquefier market reduced to $X in 2022, declining by -8% against the previous year. In general, consumption saw a noticeable shrinkage. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Machinery for Liquefying Air or Gases in Thailand

In value terms, air or gas liquefier production declined to $X in 2022 estimated in export price. Overall, production recorded a pronounced curtailment. The pace of growth was the most pronounced in 2013 when the production volume increased by 17%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Machinery for Liquefying Air or Gases

Exports from Thailand

In 2022, approx. X units of machinery for liquefying air or gases were exported from Thailand; rising by 26% against 2021 figures. Over the period under review, exports, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2018 with an increase of 400% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, air or gas liquefier exports surged to $X in 2022. In general, exports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2019 with an increase of 1,485%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X units), Lao People's Democratic Republic (X units) and Mexico (X units) were the main destinations of air or gas liquefier exports from Thailand, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +600.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) emerged as the key foreign market for machinery for liquefying air or gases exports from Thailand, comprising 72% of total exports. The second position in the ranking was taken by Mexico ($X), with a 3.8% share of total exports. It was followed by Myanmar, with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled +29.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+19.2% per year) and Myanmar (-37.9% per year).

Export Prices by Country

In 2022, the average air or gas liquefier export price amounted to $X per unit, picking up by 476% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 1,502% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Lao People's Democratic Republic ($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 Indonesia (+3.0%), while the prices for the other major destinations experienced a decline.

Imports of Machinery for Liquefying Air or Gases

Imports into Thailand

In 2022, purchases abroad of machinery for liquefying air or gases decreased by -43.9% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 650% against the previous year. Imports peaked at X units in 2021, and then reduced rapidly in the following year.

In value terms, air or gas liquefier imports surged to $X in 2022. Over the period under review, imports, however, showed a measured expansion. The most prominent rate of growth was recorded in 2019 with an increase of 508%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of air or gas liquefier to Thailand, with a 78% share of total imports. Moreover, air or gas liquefier imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sixfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-15.5% per year) and Hong Kong SAR (0.0% per year).

In value terms, China ($X) constituted the largest supplier of machinery for liquefying air or gases to Thailand, comprising 79% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.2% share of total imports. It was followed by Malaysia, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+59.6% per year) and Malaysia (+2.4% per year).

Import Prices by Country

In 2022, the average air or gas liquefier import price amounted to $X per unit, increasing by 135% against the previous year. Overall, the import price, however, faced a significant contraction. The pace of growth appeared the most rapid in 2019 when the average import price increased by 170% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Malaysia ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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