Thailand: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in Thailand

In 2021, the Thai self-propelled excavating machinery market was finally on the rise to reach $X after two years of decline. In general, consumption enjoyed a significant expansion. Self-propelled excavating machinery consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Self-Propelled Excavating Machinery Production in Thailand

In value terms, self-propelled excavating machinery production dropped dramatically to $X in 2021 estimated in export price. In general, production recorded a significant decrease. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Self-Propelled Excavating Machinery Exports

Exports from Thailand

In 2021, shipments abroad of self-propelled earth moving, excavating machinery decreased by -30.5% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 59,730% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, self-propelled excavating machinery exports plummeted to $X in 2021. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 502% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X units) was the main destination for self-propelled excavating machinery exports from Thailand, accounting for a 76% share of total exports. Moreover, self-propelled excavating machinery exports to Singapore exceeded the volume sent to the second major destination, the UK (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled +119.8%.

In value terms, Singapore ($X) remains the key foreign market for self-propelled earth moving, excavating machinery exports from Thailand, comprising 52% of total exports. The second position in the ranking was held by the UK ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at +49.9%.

Export Prices by Country

The average self-propelled excavating machinery export price stood at $X per unit in 2021, shrinking by -45.4% against the previous year. In general, the export price faced a significant curtailment. The pace of growth was the most pronounced in 2017 an increase of 12,182% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to the UK totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+435.2%), while the prices for the other major destinations experienced a decline.

Self-Propelled Excavating Machinery Imports

Imports into Thailand

In 2021, purchases abroad of self-propelled earth moving, excavating machinery decreased by -64.2% to X units, falling for the third year in a row after two years of growth. Overall, imports, however, posted measured growth. The pace of growth appeared the most rapid in 2017 when imports increased by 138% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports reduced modestly to $X in 2021. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 129%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and the United States (X units) were the main suppliers of self-propelled excavating machinery imports to Thailand, with a combined 89% share of total imports. India, Germany and the UK lagged somewhat behind, together accounting for a further 5.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +18.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of self-propelled earth moving, excavating machinery to Thailand, comprising 73% of total imports. The second position in the ranking was held by Germany ($X), with a 9.1% share of total imports. It was followed by the United States, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.8% per year) and the United States (-2.5% per year).

Import Prices by Country

In 2021, the average self-propelled excavating machinery import price amounted to $X per unit, with an increase of 168% against the previous year. Overall, the import price continues to indicate a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+33.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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