Thailand: Motor Vehicle Radiator Market 2024

Motor Vehicle Radiator Market Size in Thailand

The Thai motor vehicle radiator market expanded remarkably to $X in 2022, surging by 9.1% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Motor Vehicle Radiator Production in Thailand

In value terms, motor vehicle radiator production contracted to $X in 2022 estimated in export price. In general, production showed a perceptible decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 13%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Motor Vehicle Radiator Exports

Exports from Thailand

In 2022, shipments abroad of radiators for motor vehicles increased by 17% to X units, rising for the second year in a row after four years of decline. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 35% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, motor vehicle radiator exports soared to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Japan (X units), Indonesia (X units) and the United States (X units) were the main destinations of motor vehicle radiator exports from Thailand, with a combined 34% share of total exports. Argentina, South Africa, Malaysia, Vietnam, India, Pakistan, Brazil, China, Jordan and Australia lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +38.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Indonesia ($X) and South Africa ($X) constituted the largest markets for motor vehicle radiator exported from Thailand worldwide, with a combined 32% share of total exports. The United States, Malaysia, Argentina, Vietnam, Pakistan, India, China, Australia, Brazil and Jordan lagged somewhat behind, together accounting for a further 44%.

Among the main countries of destination, Jordan, with a CAGR of +40.9%, recorded the highest growth rate of 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

In 2022, the average motor vehicle radiator export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2018 an increase of 6.9%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then declined modestly in the following year.

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 South Africa ($X per unit), while the average price for exports to Argentina ($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 United States (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Radiator Imports

Imports into Thailand

In 2022, the amount of radiators for motor vehicles imported into Thailand skyrocketed to X units, picking up by 44% on the previous year's figure. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 61%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, motor vehicle radiator imports surged to $X in 2022. Overall, imports continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2021 with an increase of 54%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Australia (X units), China (X units) and Japan (X units) were the main suppliers of motor vehicle radiator imports to Thailand, with a combined 60% share of total imports. Italy, Cambodia, Spain, Indonesia, India, Germany and South Korea lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +261.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle radiator suppliers to Thailand were China ($X), Japan ($X) and Australia ($X), together comprising 54% of total imports. Indonesia, Cambodia, Italy, India, Spain, Germany and South Korea lagged somewhat behind, together comprising a further 28%.

Cambodia, with a CAGR of +271.8%, recorded the highest rates of growth with regard to 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 motor vehicle radiator import price stood at $X per unit in 2022, shrinking by -19.1% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by 9.2%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Germany ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform