Thailand: Transmission Shaft Market 2024

Transmission Shaft Market Size in Thailand

The Thai transmission shaft market fell sharply to $X in 2022, shrinking by -17.6% against the previous year. Overall, consumption recorded a abrupt slump. Transmission shaft consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Transmission Shaft Production in Thailand

In value terms, transmission shaft production shrank remarkably to $X in 2022 estimated in export price. Over the period under review, production faced a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 62%. Transmission shaft production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Transmission Shaft Exports

Exports from Thailand

In 2022, overseas shipments of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 14% to X tons, rising for the third consecutive year after two years of decline. Overall, exports posted a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 59%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, transmission shaft exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for transmission shaft exports from Thailand, accounting for a 23% share of total exports. Moreover, transmission shaft exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+7.8% per year) and the United States (+11.6% per year).

In value terms, the United States ($X) remains the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Thailand, comprising 24% of total exports. The second position in the ranking was taken by Japan ($X), with a 12% share of total exports. It was followed by Indonesia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.1% per year) and Indonesia (-2.5% per year).

Export Prices by Country

The average transmission shaft export price stood at $X per ton in 2022, with a decrease of -6.2% against the previous year. In general, the export price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($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 the United States (+10.6%), while the prices for the other major destinations experienced mixed trend patterns.

Transmission Shaft Imports

Imports into Thailand

In 2022, overseas purchases of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by 8.9% to X tons, rising for the third year in a row after two years of decline. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 76%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, transmission shaft imports reduced to $X in 2022. In general, imports, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2021 when imports increased by 29% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of transmission shaft imports to Thailand, together comprising 79% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Germany ($X) constituted the largest transmission shaft suppliers to Thailand, with a combined 72% share of total imports. Italy, Indonesia, the United States, India, Taiwan (Chinese), Malaysia and South Korea lagged somewhat behind, together accounting for a further 18%.

Malaysia, with a CAGR of +7.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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 transmission shaft import price amounted to $X per ton, with a decrease of -13.5% against the previous year. Overall, the import price recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 an increase of 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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