Thailand: Public Works Machinery Market 2024

Public Works Machinery Market Size in Thailand

In 2021, the Thai public works machinery market increased by 0.2% to $X, rising for the second year in a row after three years of decline. Overall, consumption posted a notable expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Public Works Machinery Production in Thailand

In value terms, public works machinery production totaled $X in 2021 estimated in export price. Overall, production posted a strong increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 635%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Public Works Machinery Exports

Exports from Thailand

In 2021, overseas shipments of machinery for public works and building decreased by -20.8% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 15,697% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, public works machinery exports reduced sharply to $X in 2021. Over the period under review, exports continue to indicate a deep slump. The growth pace was the most rapid in 2017 with an increase of 231%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X units) was the main destination for public works machinery exports from Thailand, with a 31% share of total exports. Moreover, public works machinery exports to Australia exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was taken by Mozambique (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to +43.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+24.4% per year) and Mozambique (-50.1% per year).

In value terms, the largest markets for public works machinery exported from Thailand were Vietnam ($X), Australia ($X) and Taiwan (Chinese) ($X), with a combined 48% share of total exports. Malaysia, South Africa, Japan, South Korea, Mexico, New Zealand, Hong Kong SAR, France, Mozambique and Ireland lagged somewhat behind, together accounting for a further 37%.

South Africa, with a CAGR of +214.9%, 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 public works machinery export price amounted to $X per unit, waning by -59% against the previous year. Over the period under review, the export price recorded a sharp setback. The growth pace was the most rapid in 2016 an increase of 34,818% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Mozambique ($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 New Zealand (+39.4%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Thailand

Public works machinery imports into Thailand dropped slightly to X units in 2021, which is down by -3.9% compared with 2020. Overall, imports, however, posted a moderate expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 195%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, public works machinery imports reduced to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 190%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest public works machinery supplier to Thailand, accounting for a 75% share of total imports. Moreover, public works machinery imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), more than tenfold. South Korea (X units) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (0.0% per year) and South Korea (+13.6% per year).

In value terms, Germany ($X), China ($X) and Japan ($X) were the largest public works machinery suppliers to Thailand, together accounting for 82% of total imports. These countries were followed by the United States, South Korea, Poland and Mexico, which together accounted for a further 9%.

Among the main suppliers, Mexico, with a CAGR of +88.1%, 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

In 2021, the average public works machinery import price amounted to $X per unit, shrinking by -1.6% against the previous year. In general, the import price recorded a noticeable decrease. The most prominent rate of growth was recorded in 2020 an increase of 5.6%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+27.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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