Thailand: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Thailand

The Thai oil dispensing pump market reduced sharply to $X in 2021, declining by -31.5% against the previous year. In general, consumption saw a deep downturn. Oil dispensing pump consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Oil Dispensing Pump Production in Thailand

In value terms, oil dispensing pump production declined sharply to $X in 2021 estimated in export price. Overall, production, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 180% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Oil Dispensing Pump Exports

Exports from Thailand

In 2021, oil dispensing pump exports from Thailand surged to X units, picking up by 23% compared with the previous year's figure. In general, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2014 with an increase of 183% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, oil dispensing pump exports declined modestly to $X in 2021. Overall, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 37%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Myanmar (X units) was the main destination for oil dispensing pump exports from Thailand, accounting for a 51% share of total exports. Moreover, oil dispensing pump exports to Myanmar exceeded the volume sent to the second major destination, Taiwan (Chinese) (X units), fourfold. Malaysia (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+23.7% per year) and Malaysia (+33.9% per year).

In value terms, the largest markets for oil dispensing pump exported from Thailand were Myanmar ($X), Taiwan (Chinese) ($X) and Japan ($X), together accounting for 57% of total exports. These countries were followed by Lebanon, Indonesia, Malaysia, Germany, Papua New Guinea and the United States, which together accounted for a further 16%.

In terms of the main countries of destination, Papua New Guinea, with a CAGR of +341.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, declining by -19.6% against the previous year. Over the period under review, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 248% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Papua New Guinea ($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 Libya (+5.1%), while the prices for the other major destinations experienced a decline.

Oil Dispensing Pump Imports

Imports into Thailand

In 2021, the amount of petrol and oil dispensing pumps imported into Thailand dropped rapidly to X units, which is down by -31.9% on 2020. Over the period under review, imports saw a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by 77%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, oil dispensing pump imports contracted to $X in 2021. In general, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 70%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Turkey (X units) were the main suppliers of oil dispensing pump imports to Thailand, with a combined 75% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +94.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Japan ($X) and Turkey ($X) were the largest oil dispensing pump suppliers to Thailand, with a combined 87% share of total imports.

Turkey, with a CAGR of +111.5%, saw 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 oil dispensing pump import price stood at $X per unit in 2021, jumping by 39% against the previous year. Over the period under review, the import price enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by 64%. The import price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :