Passenger Car Tyre Market in Thailand
Market Overview
The Thai passenger car tyre market was finally on the rise to reach $
in , after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Passenger car tyre consumption peaked at $ in 2008; however, from 2009 to , consumption remained at a lower figure.
In value terms, passenger car tyre production reduced to $ in estimated in export price. Over the period under review, the total production indicated resilient growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The pace of growth was the most pronounced in 2008 with an increase of %. Over the period under review, production attained the maximum level at $ in 2019; however, from to , production failed to regain momentum.
in , after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Passenger car tyre consumption peaked at $ in 2008; however, from 2009 to , consumption remained at a lower figure.In value terms, passenger car tyre production reduced to $
in estimated in export price. Over the period under review, the total production indicated resilient growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against indices. The pace of growth was the most pronounced in 2008 with an increase of %. Over the period under review, production attained the maximum level at $ in 2019; however, from to , production failed to regain momentum.Consumption
Passenger car tyre consumption in Thailand expanded remarkably to units in , with an increase of % compared with the previous year's figure. In general, consumption, however, showed a mild decline. The pace of growth appeared the most rapid in 2017 when the consumption volume increased by % against the previous year. Over the period under review, consumption reached the peak volume at units in 2007; however, from 2008 to , consumption failed to regain momentum.
The revenue of the passenger car tyre market in Thailand expanded modestly to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a relatively flat trend pattern. Passenger car tyre consumption peaked at $ in 2008; however, from 2009 to , consumption failed to regain momentum.
units in , with an increase of % compared with the previous year's figure. In general, consumption, however, showed a mild decline. The pace of growth appeared the most rapid in 2017 when the consumption volume increased by % against the previous year. Over the period under review, consumption reached the peak volume at units in 2007; however, from 2008 to , consumption failed to regain momentum.The revenue of the passenger car tyre market in Thailand expanded modestly to $
in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a relatively flat trend pattern. Passenger car tyre consumption peaked at $ in 2008; however, from 2009 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for passenger car tyre in Thailand, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to units by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Thailand increased significantly over the last fifteen-year period (from % to %).
% to %).Trade Balance
Thailand remains a net exporter of passenger car tyre; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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