Thailand: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2025

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Thailand

The Thai market for tyres for agriculture, forestry, construction, industry and other off the road vehicles contracted dramatically to $X in 2022, which is down by -15.7% against the previous year. Overall, consumption showed a pronounced downturn. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Thailand

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles rose sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 29%. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Thailand

After two years of growth, shipments abroad of tyres for agriculture, forestry, construction, industry and other off the road vehicles decreased by -20.8% to X units in 2022. Overall, total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +65.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. As a result, the exports reached the peak of X units, and then dropped sharply in the following year.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 92% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

The United States (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Thailand, with a 61% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was taken by the Netherlands (X units), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.7% per year) and the Netherlands (-4.8% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for agriculture, forestry, construction, industry and other off the road vehicles exports from Thailand, comprising 48% of total exports. The second position in the ranking was held by Sweden ($X), with a 9.5% share of total exports. It was followed by the UK, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+59.1% per year) and the UK (+28.3% per year).

Export Prices by Country

The average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, rising by 19% against the previous year. In general, the export price posted prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to the Netherlands ($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 Sweden (+41.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Thailand

In 2022, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles into Thailand shrank sharply to X units, with a decrease of -30.2% compared with the year before. Over the period under review, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 26% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles fell rapidly to $X in 2022. In general, imports showed a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by 49% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and India (X units) were the main suppliers of imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Thailand, together accounting for 82% of total imports. Vietnam, Taiwan (Chinese), Brazil, the United States, South Korea and Indonesia lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +36.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to Thailand were Japan ($X), China ($X) and India ($X), with a combined 87% share of total imports. Vietnam, Brazil, South Korea, the United States, Taiwan (Chinese) and Indonesia lagged somewhat behind, together comprising a further 8.3%.

Vietnam, with a CAGR of +10.6%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, falling by -6.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 32%. The import price peaked at $X per unit in 2016; however, from 2017 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 Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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