The import of parts for diesel and semi-diesel engines to Thailand saw varied fluctuations over the past decade. The highest year-on-year growth was witnessed in 2021 with a 24.01% increase, correlating with a post-pandemic recovery phase. In 2023, the current import volume stands at 1.3111 billion USD, reflecting a 2.66% growth from the previous year. Over the last five years, the compound annual growth rate (CAGR) has been 3.11%, indicating steady but moderate growth.
Going forward, from 2024, the market is forecasted to grow consistently, with a CAGR of 2% over the next five years. By 2028, the import value is anticipated to reach 1.4886 billion USD, representing a total growth rate of 10.39% from 2024.
Future trends to watch for include:
- The impact of technological advancements in engine parts and how they affect import volumes.
- Policy changes regarding emissions and environmental standards which might influence the demand for more efficient engine parts.
- Global economic factors and supply chain efficiencies that could either facilitate or hinder import activities.
