Thailand's import of mobile cranes in 2023 stood at USD 73.455 million.
Year-on-year variations indicate fluctuations over past years, marked by sharp changes such as the 39.64% increase in 2013 and a significant -59% decrease in 2014. However, recent years show stabilization, with increases of 3.72% in 2022 and 3.51% in 2023. The Compound Annual Growth Rate (CAGR) for the past five years reflects an average growth of 1.54%.
Future forecasts suggest continuous growth from 2024 onwards with the market value expected to reach USD 86.48 million by 2028, showing a projected CAGR of 2.57% and a forecasted 13.5% growth over the next five years.
Future trends to watch for:
- Technological advancements and enhancements in crane functionality and efficiency.
- Potential impact of economic conditions and infrastructural projects on demand.
- International trade policies affecting import dynamics.
- Sustainability trends and shifts towards eco-friendly machinery could drive innovation and market growth.
