Thailand: Harvesting Machinery Market 2024

Harvesting Machinery Market Size in Thailand

The Thai harvesting machinery market expanded slightly to $X in 2021, rising by 1.7% against the previous year. In general, consumption, however, saw a pronounced curtailment. Harvesting machinery consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Harvesting Machinery Production in Thailand

In value terms, harvesting machinery production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2013 with an increase of 11%. Harvesting machinery production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Harvesting Machinery Exports

Exports from Thailand

In 2021, after two years of growth, there was significant decline in overseas shipments of root or tuber harvesting machines, when their volume decreased by -64.5% to X units. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 343% against the previous year. As a result, the exports reached the peak of X units, and then shrank markedly in the following year.

In value terms, harvesting machinery exports declined notably to $X in 2021. In general, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2020 when exports increased by 382% against the previous year. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Cambodia (X units) was the main destination for harvesting machinery exports from Thailand, accounting for a 55% share of total exports. Moreover, harvesting machinery exports to Cambodia exceeded the volume sent to the second major destination, the Philippines (X units), sixfold. The third position in this ranking was held by Lao People's Democratic Republic (X units), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia totaled +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Lao People's Democratic Republic (0.0% per year).

In value terms, Cambodia ($X) emerged as the key foreign market for root or tuber harvesting machines exports from Thailand, comprising 75% of total exports. The second position in the ranking was held by Myanmar ($X), with a 15% share of total exports. It was followed by Japan, with a 4% share.

From 2012 to 2021, the average annual growth rate of value to Cambodia stood at +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+2.1% per year) and Japan (-0.6% per year).

Export Prices by Country

In 2021, the average harvesting machinery export price amounted to $X per unit, with a decrease of -58.8% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2019 an increase of 48%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the 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 Myanmar ($X per unit), while the average price for exports to Hong Kong SAR ($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 Cambodia (-8.7%), while the prices for the other major destinations experienced a decline.

Harvesting Machinery Imports

Imports into Thailand

In 2021, supplies from abroad of root or tuber harvesting machines decreased by 0% to X units, falling for the second consecutive year after three years of decline. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 200%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, harvesting machinery imports dropped sharply to $X in 2021. Overall, imports recorded a sharp decline. The pace of growth was the most pronounced in 2019 when imports increased by 623% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X units) was the main supplier of harvesting machinery to Thailand, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from India was relatively modest.

In value terms, China ($X) constituted the largest supplier of root or tuber harvesting machines to Thailand, comprising 65% of total imports. The second position in the ranking was taken by Japan ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.4% per year) and India (0.0% per year).

Import Prices by Country

The average harvesting machinery import price stood at $X per unit in 2021, which is down by -98.9% against the previous year. Overall, the import price showed a sharp slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 83%. Over the period under review, average import prices attained the peak figure at $X per unit in 2020, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for India ($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 (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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