Price for Electric Motors; of an Output Not Exceeding 37.5W in Thailand - 2024
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Thailand (CIF) - 2024
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Thailand (FOB) - 2024
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Thailand
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Thailand
Price for Electric Motors; of an Output Not Exceeding 37.5W in Thailand (CIF) - 2024
The average import price for electric motors stood at $2.4 per unit in January 2024, which is down by -9.1% against the previous month. In general, the import price recorded a slight curtailment. The growth pace was the most rapid in October 2023 an increase of 12% against the previous month. Over the period under review, average import prices reached the peak figure at $2.8 per unit in February 2023; however, from March 2023 to January 2024, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($11.2 per unit), while the price for Cambodia ($837 per thousand units) was amongst the lowest.
From February 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Cambodia (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Thailand (FOB) - 2024
In January 2024, the average export price for electric motors amounted to $2.9 per unit, dropping by -1.8% against the previous month. Over the period under review, the export price recorded a slight decrease. The pace of growth appeared the most rapid in September 2023 an increase of 6.1% against the previous month. Over the period under review, the average export prices attained the peak figure at $3.3 per unit in February 2023; however, from March 2023 to January 2024, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In January 2024, the country with the highest price was the Philippines ($8.5 per unit), while the average price for exports to the Czech Republic ($1.2 per unit) was amongst the lowest.
From February 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Thailand
In 2022, imports of electric motors into Thailand declined modestly to 235M units, with a decrease of -3.4% compared with 2021 figures. The total import volume increased at an average annual rate of +3.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 30% against the previous year. As a result, imports attained the peak of 243M units, and then dropped slightly in the following year.
In value terms, imports of electric motors expanded to $550M in 2022. The total import value increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 217 | 214 | 289 | 302 | 11.6% |
| Indonesia | 40.0 | 36.2 | 49.8 | 50.0 | 7.7% |
| Japan | 62.2 | 44.9 | 61.2 | 49.6 | -7.3% |
| Vietnam | 45.6 | 49.0 | 53.6 | 46.6 | 0.7% |
| South Korea | 7.7 | 8.3 | 11.0 | 11.5 | 14.3% |
| Taiwan (Chinese) | 6.0 | 5.8 | 8.5 | 9.6 | 17.0% |
| Philippines | 10.4 | 7.6 | 9.0 | 5.4 | -19.6% |
| Others | 52.7 | 55.4 | 60.0 | 75.9 | 12.9% |
| Total | 441 | 421 | 542 | 550 | 7.6% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Thailand in 2022:
- Indonesia (118.5M units)
- China (33.7M units)
- Japan (29.2M units)
- Philippines (11.5M units)
- Taiwan (Chinese) (9.9M units)
- South Korea (8.8M units)
- Vietnam (5.2M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Thailand
In 2022, the amount of electric motors exported from Thailand shrank modestly to 172M units, waning by -3.3% on 2021 figures. In general, exports showed a perceptible slump. The most prominent rate of growth was recorded in 2021 when exports increased by 11%. Over the period under review, the exports of hit record highs at 184M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, exports of electric motors contracted to $514M in 2022. The total export value increased at an average annual rate of +1.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when exports increased by 15% against the previous year. As a result, the exports reached the peak of $542M, and then declined in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 105 | 122 | 80.3 | 91.8 | -4.4% |
| United States | 65.3 | 67.3 | 79.0 | 73.2 | 3.9% |
| Philippines | 37.6 | 59.3 | 113 | 71.5 | 23.9% |
| Japan | 50.2 | 39.3 | 51.2 | 49.9 | -0.2% |
| Germany | 39.6 | 33.7 | 40.2 | 37.2 | -2.1% |
| Hong Kong SAR | 32.9 | 25.7 | 32.2 | 27.7 | -5.6% |
| Vietnam | 16.1 | 20.0 | 19.0 | 27.0 | 18.8% |
| Mexico | 17.6 | 15.7 | 20.3 | 18.7 | 2.0% |
| France | 15.0 | 14.0 | 17.8 | 16.0 | 2.2% |
| Singapore | 9.6 | 9.4 | 11.9 | 11.6 | 6.5% |
| Italy | 10.1 | 6.8 | 10.4 | 11.5 | 4.4% |
| India | 17.8 | 4.7 | 7.8 | 10.3 | -16.7% |
| Others | 73.1 | 52.5 | 59.6 | 67.2 | -2.8% |
| Total | 490 | 470 | 542 | 514 | 1.6% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Thailand in 2022:
- China (37.9M units)
- United States (21.1M units)
- Germany (15.8M units)
- Vietnam (13.6M units)
- Hong Kong SAR (13.2M units)
- Japan (12.4M units)
- Italy (9.9M units)
- Philippines (8.5M units)
- France (7.9M units)
- Mexico (6.8M units)
- Singapore (3.0M units)
- India (2.5M units)
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