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Thailand Commercial Vehicle Industry Outlook 2024 - 2028

See how Thailand Commercial Vehicle performed compared to key markets such as the United States, Canada and Mexico.

Key Market Indicators

**Thai Commercial Vehicle Registration Projected to Reach 511,000 Units by 2028** The registration of commercial vehicles in Thailand is forecasted to grow steadily, reaching approximately 511,000 units by 2028. This marks an average annual growth rate of 2.1% from the 447,000 units recorded in 2023. However, the Thai market has experienced a decline over the years, with a 4.4% year-on-year decrease since 2010. In 2023, Thailand ranked 13th globally in commercial vehicle registrations, a position overtaken by Japan with the same number of units. Canada, Mexico, and Argentina followed in the second, third, and fourth positions, respectively. **Thai Commercial Vehicle Production Expected to Decline Slightly** In terms of production, Thailand's commercial vehicle output is projected to decline marginally. By 2028, production is expected to reach approximately 1.09 million units, down from 1.14 million units in 2023. This represents an average annual decrease of 0.8%. Since 2002, Thailand's supply has seen a 2.4% year-on-year decline. In 2023, the country ranked fifth in global commercial vehicle production, trailing behind Canada, which also recorded 1.14 million units. Mexico, China, and Canada were ranked second, third, and fourth, respectively.

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Thailand Commercial Vehicle Market Data and Forecasts