Thailand: Suspension System Market 2025

Suspension System Market Size in Thailand

The Thai suspension system market reached $X in 2022, growing by 7.6% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.4% against 2020 indices. Suspension system consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Suspension System Production in Thailand

In value terms, suspension system production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 33% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Suspension System Exports

Exports from Thailand

In 2022, approx. X tons of suspension systems were exported from Thailand; shrinking by -4.4% on the previous year's figure. In general, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 32%. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, suspension system exports reduced to $X in 2022. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 39%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Japan (X tons), Malaysia (X tons) and Indonesia (X tons) were the main destinations of suspension system exports from Thailand, together accounting for 24% of total exports. The Philippines, the United States, Australia, Vietnam, South Africa, the United Arab Emirates, Pakistan, Mexico, Saudi Arabia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +34.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Australia ($X) and the Philippines ($X) were the largest markets for suspension system exported from Thailand worldwide, with a combined 26% share of total exports. Indonesia, Japan, Malaysia, Vietnam, the United Arab Emirates, South Africa, Saudi Arabia, Pakistan, Taiwan (Chinese) and Mexico lagged somewhat behind, together comprising a further 48%.

Pakistan, with a CAGR of +35.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average suspension system export price stood at $X per ton in 2022, falling by -5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2017 an increase of 13% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Suspension System Imports

Imports into Thailand

In 2022, supplies from abroad of suspension systems increased by 20% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, suspension system imports soared to $X in 2022. Overall, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of suspension system imports to Thailand, with a combined 78% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest suspension system suppliers to Thailand were the United States ($X), Japan ($X) and China ($X), with a combined 69% share of total imports.

The United States, with a CAGR of +33.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average suspension system import price amounted to $X per ton, increasing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2019 an increase of 25%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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