Thailand: Non-Electric Industrial Furnace Market 2025

Non-Electric Industrial Furnace Market Size in Thailand

The Thai non-electric industrial furnace market surged to $X in 2022, with an increase of 21% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Industrial Furnace Production in Thailand

In value terms, non-electric industrial furnace production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of 123%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Industrial Furnace Exports

Exports from Thailand

In 2022, overseas shipments of non-electric industrial or laboratory furnaces and ovens decreased by -38.5% to X units, falling for the third year in a row after two years of growth. In general, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2013 with an increase of 118%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric industrial furnace exports reduced notably to $X in 2022. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 118%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X units), the Philippines (X units) and Bangladesh (X units) were the main destinations of non-electric industrial furnace exports from Thailand, with a combined 51% share of total exports. Papua New Guinea, Cambodia, the United States, Vietnam, Malaysia, the UK, Lao People's Democratic Republic, Australia, Myanmar and Canada lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +49.6%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Thailand, comprising 39% of total exports. The second position in the ranking was held by the Philippines ($X), with a 16% share of total exports. It was followed by the UK, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-12.7% per year) and the UK (+69.5% per year).

Export Prices by Country

In 2022, the average non-electric industrial furnace export price amounted to $X per unit, growing by 12% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric industrial furnace export price increased by +122.7% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 52% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Myanmar ($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 the UK (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Thailand

In 2022, the amount of non-electric industrial or laboratory furnaces and ovens imported into Thailand amounted to X units, growing by 3.3% compared with the year before. Overall, imports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2016 when imports increased by 76% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, non-electric industrial furnace imports totaled $X in 2022. In general, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of 31% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric industrial furnace to Thailand, with a 90% share of total imports. It was followed by India (X units), with a 2.7% share of total imports. The third position in this ranking was held by Germany (X units), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.2% per year) and Germany (-15.0% per year).

In value terms, China ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to Thailand, comprising 78% of total imports. The second position in the ranking was held by Japan ($X), with a 7.6% share of total imports. It was followed by India, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-21.7% per year) and India (+12.8% per year).

Import Prices by Country

In 2022, the average non-electric industrial furnace import price amounted to $X per unit, approximately equating the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 54%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices failed to regain momentum.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+35.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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