Thailand: Timer Market 2025

Timer Market Size in Thailand

The Thai timer market dropped to $X in 2022, shrinking by -14% against the previous year. Over the period under review, consumption continues to indicate a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Timer Production in Thailand

In value terms, timer production reduced markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 57%. Timer production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Timer Exports

Exports from Thailand

Timer exports from Thailand contracted to X units in 2022, with a decrease of -4.5% compared with the previous year's figure. In general, exports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 67%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, timer exports dropped to $X in 2022. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 75%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and Germany (X units) were the main destinations of timer exports from Thailand, with a combined 94% share of total exports. Singapore lagged somewhat behind, accounting for a further 2.5%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +2.3%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for timers exports from Thailand, comprising 57% of total exports. The second position in the ranking was taken by Japan ($X), with a 23% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.9% per year) and Germany (-3.6% per year).

Export Prices by Country

In 2022, the average timer export price amounted to $X per unit, approximately reflecting the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 6%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Japan ($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 (-0.5%), while the prices for the other major destinations experienced a decline.

Timer Imports

Imports into Thailand

After two years of growth, overseas purchases of timers decreased by -14.4% to X units in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.1% 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 +39.2% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 61% against the previous year. Imports peaked at X units in 2021, and then reduced in the following year.

In value terms, timer imports declined to $X in 2022. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +36.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 43%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main timer supplier to Thailand, with a 94% share of total imports. It was followed by South Korea (X units), with a 2.7% share of total imports. The third position in this ranking was held by Japan (X units), with a 1.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+75.9% per year) and Japan (-22.3% per year).

In value terms, China ($X) constituted the largest supplier of timers to Thailand, comprising 76% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Japan, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+82.8% per year) and Japan (-11.0% per year).

Import Prices by Country

In 2022, the average timer import price amounted to $X per unit, surging by 11% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, timer import price increased by +19.2% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 34%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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