Updated Nov 14, 2022 17:21

Truck Crane Market in Thailand

Market Overview
The Thai truck crane market contracted notably to $ in , reducing 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, enjoyed a resilient expansion. Over the period under review, the market attained the maximum level at $ in 2013; however, from 2014 to , consumption remained at a lower figure.


Consumption
Truck crane consumption in Thailand expanded sharply to units in , picking up by % on . Overall, consumption showed a buoyant increase. Over the period under review, consumption hit record highs at units in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.

The value of the truck crane market in Thailand rose notably to $ in , with an increase of % 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). Over the period under review, consumption posted a prominent increase. Truck crane consumption peaked at $ in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by increasing demand for truck crane in Thailand, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase 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
Truck crane market in Thailand remained dependent on supplies from foreign countries. In , the share of imports in total consumption was % in value terms and % in physical terms. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Thailand remains a net importer of truck crane; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.