Thailand: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Thailand

In 2021, the Thai mechanical shovel and excavator market increased by 96% to $X, rising for the second consecutive year after five years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Mechanical shovel and excavator consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Thailand

In value terms, mechanical shovel and excavator production stood at $X in 2021 estimated in export price. In general, production faced a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of 154% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Thailand

In 2021, shipments abroad of mechanical shovels, excavators and shovel loaders was finally on the rise to reach X units after two years of decline. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 504%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible downturn. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for mechanical shovel and excavator exports from Thailand, accounting for a 47% share of total exports. Moreover, mechanical shovel and excavator exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), fivefold. The third position in this ranking was held by Cambodia (X units), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia stood at -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-10.1% per year) and Cambodia (+12.1% per year).

In value terms, Indonesia ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Thailand, comprising 32% of total exports. The second position in the ranking was held by Australia ($X), with a 7.7% share of total exports. It was followed by Malaysia, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia stood at -9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+24.1% per year) and Malaysia (-6.8% per year).

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, flattening at the previous year. Overall, the export price, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of 651% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Myanmar ($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 Australia (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Thailand

Mechanical shovel and excavator imports into Thailand skyrocketed to X units in 2021, rising by 56% against 2020. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2020 when imports increased by 98% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, mechanical shovel and excavator imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 46% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and Indonesia (X units) were the main suppliers of mechanical shovel and excavator imports to Thailand, together comprising 91% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +11.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Japan ($X) and Indonesia ($X) were the largest mechanical shovel and excavator suppliers to Thailand, with a combined 91% share of total imports.

Among the main suppliers, China, with a CAGR of +8.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, waning by -17.9% against the previous year. Overall, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 9.8%. The import price peaked at $X per unit in 2013; however, from 2014 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 South Korea ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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