Price for Electric Motors; AC Motors, Single-Phase in Thailand - 2023

Price for Electric Motors; AC Motors, Single-Phase in Thailand (CIF) - 2023

In July 2023, the average import price for electric motors; AC motors, single-phases amounted to $6.3 per unit, surging by 1.8% against the previous month. Over the period under review, the import price, however, saw a mild curtailment. The pace of growth was the most pronounced in December 2022 when the average import price increased by 26% against the previous month. As a result, import price reached the peak level of $10.2 per unit. From January 2023 to July 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Vietnam ($5.3 per unit), while the price for China stood at $5.1 per unit.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (-0.8%).

Price for Electric Motors; AC Motors, Single-Phase in Thailand (FOB) - 2023

In July 2023, the average export price for electric motors; AC motors, single-phases amounted to $41.8 per unit, growing by 6.8% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 when the average export price increased by 29% month-to-month. Over the period under review, the average export prices reached the maximum at $48.0 per unit in March 2023; however, from April 2023 to July 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Australia ($61.9 per unit), while the average price for exports to Spain ($15.6 per unit) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Motors; AC Motors, Single-Phase in Thailand

In 2022, purchases abroad of electric motors; AC motors, single-phases decreased by -12% to 9.7M units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 63%. Over the period under review, imports attained the maximum at 11M units in 2021, and then reduced in the following year.

In value terms, electric motors; AC motors, single-phase imports contracted to $78M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +18.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 36% against the previous year. As a result, imports attained the peak of $86M, and then fell in the following year.

Import of Electric Motors; AC Motors, Single-Phase in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	32.0	48.3	68.6	62.7	25.1%
Vietnam	1.2	1.3	1.1	1.5	7.7%
South Korea	3.5	1.2	0.8	0.8	-38.9%
Others	10.0	12.2	15.4	13.3	10.0%
Total	46.8	63.0	85.9	78.3	18.7%

Top Suppliers of Electric Motors; AC Motors, Single-Phase to Thailand in 2022:

South Korea (undefinedM units)
China (9.3M units)
Vietnam (0.2M units)

Exports of Electric Motors; AC Motors, Single-Phase in Thailand

Electric motors; AC motors, single-phase exports from Thailand declined slightly to 2.4M units in 2022, waning by -2.1% against the year before. The total export volume increased at an average annual rate of +5.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. As a result, the exports attained the peak of 2.5M units, and then fell slightly in the following year.

In value terms, electric motors; AC motors, single-phase exports totaled $91M in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +21.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Export of Electric Motors; AC Motors, Single-Phase in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	11.1	19.7	30.7	36.8	49.1%
Australia	13.8	15.2	14.2	16.2	5.5%
Japan	4.8	4.5	6.7	9.7	26.4%
Spain	3.8	3.9	6.1	6.9	22.0%
Malaysia	1.9	2.1	2.5	4.0	28.2%
Germany	2.2	3.4	4.3	3.6	17.8%
Saudi Arabia	1.2	0.9	1.1	2.6	29.4%
Taiwan (Chinese)	2.0	1.2	1.1	1.5	-9.1%
Hong Kong SAR	3.3	3.9	2.0	1.2	-28.6%
Others	6.8	7.0	13.2	8.5	7.7%
Total	51.0	61.6	81.9	90.9	21.2%