Thailand: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Thailand

After four years of growth, the Thai market for pneumatic or hydraulic hand tools decreased by -1.3% to $X in 2021. Over the period under review, consumption saw a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2020, and then dropped modestly in the following year.

Production of Pneumatic Or Hydraulic Hand Tools in Thailand

In value terms, pneumatic or hydraulic hand tool production reduced to $X in 2021 estimated in export price. Over the period under review, production continues to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 163% against the previous year. Pneumatic or hydraulic hand tool production peaked at $X in 2020, and then contracted in the following year.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Thailand

In 2021, overseas shipments of pneumatic or hydraulic hand tools decreased by -2.1% to X tons, falling for the fourth year in a row after four years of growth. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 60% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons), the United States (X tons) and Myanmar (X tons) were the main destinations of pneumatic or hydraulic hand tool exports from Thailand, with a combined 51% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +64.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and India ($X) appeared to be the largest markets for pneumatic or hydraulic hand tool exported from Thailand worldwide, together accounting for 52% of total exports. These countries were followed by South Korea, the Netherlands, Myanmar, Australia, China, Lao People's Democratic Republic and Singapore, which together accounted for a further 25%.

Myanmar, with a CAGR of +62.2%, 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

In 2021, the average export price for pneumatic or hydraulic hand tools amounted to $X per ton, surging by 24% against the previous year. Over the period under review, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 132%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Thailand

In 2021, the amount of pneumatic or hydraulic hand tools imported into Thailand surged to X tons, picking up by 34% compared with 2020 figures. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 46% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a perceptible setback. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of pneumatic or hydraulic hand tool to Thailand, with a 92% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-17.6% per year) and Taiwan (Chinese) (-10.8% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Thailand, comprising 79% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-11.2% per year) and Taiwan (Chinese) (-8.3% per year).

Import Prices by Country

The average import price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the import price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2019 an increase of 63% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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