The import of steam and vapor generating boilers to Thailand stood at $51.0 million in 2023. The forecasted values for the succeeding years indicate a consistent decline: $48.826 million in 2024, $46.716 million in 2025, $44.648 million in 2026, $42.622 million in 2027, and $40.636 million in 2028.
- 2024: 4.3% decrease
- 2025: 4.3% decrease
- 2026: 4.4% decrease
- 2027: 4.5% decrease
- 2028: 4.7% decrease
The compound annual growth rate (CAGR) over the last five years is expected to be approximately -4.8%, indicating a consistent annual decline in the import value of these boilers.
In the future, trends to watch include increasing domestic production capacity, advancements in boiler technology, and policies focused on energy efficiency and sustainability. Global economic conditions and Thailand’s industrial demand will also be pivotal in shaping the import dynamics.
