As of 2019, the automotive industry in Thailand is the largest in Southeast Asia and the 10th largest in the world. SWOT Profiles of Automotive Companies in Thailand. In term of sustainability Non-traditional automotive players, including Foxconn and Baidu, have entered the automotive space by showcasing electric, connected, and autonomous software capabilities through product offerings and innovative business models. Thailand Automotive Market (2022 - 2028) | Trends, Outlook & Forecast Thailand Automotive Market Outlook Market Forecast By Product Type (Electric, Hybrid Electric, Plug-In Hybrid Electric, Mild Hybrid, Natural Gas, Fuel Cell Electric, Diesel, Petrol) And Competitive Landscape Report Description Previous Updates Key Highlights of the Report: The outlook from the Fitch experts, however, while not exactly negative, suggests that in order to be successful the automotive industry will have to manage some significant challenges in 2022. 7. According to Deloitte's Future of Automotive Sales and Aftersales: Impact of current industry trends on OEM revenues and profits until 2035 , forecasted trends have been grouped under This report provides a complete and detailed analysis of the automotive sector for Thailand. With the significant inflow and outflow of automotive trading, Thailands export value of automotive products has expanded throughout the years, contributing to a global market of more than 3,000 vehicle component types. The automobile industry is an industry that the Thai government has continuously promoted. Major Parts Suppliers Reports. The RCEP encompasses nearly half of the worlds automotive industry, but its impact will be felt only slowly. The Thailand Industry Outlook over the next 3 years (2022-2024) covers a range of factors that will have impacts on industries. Apple also reportedly intends to set up a Mac production Thailand Automotive Market, Size, Share, Outlook and Growth Opportunities 2020-2026 Thailand Automotive Industry Benchmarking. However, the industry is now also facing the Federal Reserves rate policy changes. Published by Leander von Kameke , May 30, 2022 In 2021, Indonesia demonstrated the highest growth of 63 percent in motor vehicle production. 6.1 Overall Ranking 6.2 Demand Index 6.3 Supply Index 6.4 Growth Index. Rates that have been near zero for the past two years increased 1.5% from March On December 21, 2021, Surapong Paisitphatanapong Vice President and Spokesperson for Automotive Industry Group The Federation of Thai Industries (FTI) revealed that the production More than 2 million automobiles were produced in 2019, with over a million units exported, but the numbers dropped to 1.4 million in 2020, with just over 700,000 exported, In the first quarter of 2022, the export value of automotive engines in Thailand amounted to around 11.4 billion Thai baht. This study indicates that ASEAN car parc is expected to see a positive growth during the forecast period of 2018 -2022 led by key car markets in the region including Indonesia, Thailand, and Malaysia. The FTI forecasts that vehicle production in Thailand are expected to decrease 5.1% to 1.5 million units in 2021 with 750,000 units for domestic sales and exports respectively. Thailand - Production and Sales of new vehicles Source: FTI (Federation of Thai Industries), Toyota Motor Thailand Co., Ltd. (TMT), various media reports In 2019, Thailands domestic automotive market is expected to contract by 2% to 5% while EV sales growth is projected to remain impressive between 76%-83%. However, the numbers for the Dutch market show that only 17% of consumers have similar plans, and of those, only 45% are thinking of buying a brand new car. Industry. Vehicle parts and accessories were also a great contributor to the automotive industry, with the export value in 2020 amounting to 450 billion Thai baht. According to data compiled by Toyota Motor Thailand (TMT), by maker sales in May, Toyota was up 12.2% to 22,181 units. Industry Outlook Analysis. 7.1 Company A 7.2 Company B ASEAN Automotive Outlook, 2022 2/1-9 Moo 3 Mittraphap Road, Kokkruad, Muang Nakhon Ratchasima District Nakhon Ratchasima 30280, Thailand. Thailand also Moreover, the automotive industry accounted for 7.7% of the total value of Thai exports in 2019. Currently, Thailand's manufacturing industry is led by exporting industrial goods, such as auto parts, electronics, electric appliances, and plastics. Vehicle sales in January-May 2022 up 16.6% to 359,351 units. According to data compiled by Toyota Motor Thailand (TMT), by maker sales in August, Toyota Major Parts Suppliers. The automotive ECU market is projected to increase at a 6.1% CAGR from 2017 to 2022, reaching US$ 48,500.0 million. The commercial vehicle (CV) segment continues to dominate with a 56.6% share, and it is projected to reach 57.3% in 2021, driven by government stimulus measures in response to the pandemic. In term of EV usage and infrastructure EV will widely use and has infrastructure supports. Published by Hansa Manakitsomboon , May 20, 2022 In the first quarter of 2022, the production volume of trucks in Thailand amounted to around ten thousand units. To preserve its position as the production and export hub for four-wheel motor vehicle in ASEAN, the Thai government has promoted green car manufacturing. Reasons for the market contraction include high household debt and stricter credit policy set by financial institutions to tackle higher non-performing car loans. P.C.S. Those factors include challenges and opportunities to On December 21, 2021, Surapong Paisitphatanapong Vice President and Spokesperson for Automotive Industry Group The Federation of Thai Industries (FTI) revealed that the production of automobiles in 2022 will be approximately 1,700,000 - 1,800,000 units, divided into domestic sales of 800,000 - 850,000 units and exports 900,000 - 950,000 units. Thailand hosts assembling operations for Ford, GM, Toyota, Isuzu, Honda,Nissan, Mitsubishi, BMW, Daimler Chrysler, Mazda etc. 29 Aug 2022. Vehicle sales in the first 8 months of 2022 reached 559,537 units, an increase of 19.6% YoY. 4k desktop backgrounds Past due and current rent beginning April 1, 2020 and up to three months forward rent a maximum of 18 months rental assistance Address. Labour-intensive industries: Profits projected to decline by 5-15 percent due to minimum wage hike (Current Issue Apple considers Vietnam the top destination for its Mac production relocation from China, according to industry sources. Thailand Automotive Fuel Tank Market is expected to grow during 2022-2028 Thailand Automotive Fuel Tank Market (2022 - 2028) | Trends, Outlook & Forecast Toggle navigation In that period, the total value of vehicle exports in The Thai industry has an annual output of more than two million vehicles (passenger cars and pickup trucks), more than countries such as Belgium, Canada, the United Kingdom, Italy, Czech Republic and Turkey.. The four dominant Country. August 7th 2020 Thailand: Automotive April 2022. Thailands TIV dropped by 21.4% in 2020 when compared to 2019. AAPICO Hitech Public Co., Ltd. 99 Moo 1, Hitech Industrial Estate, Tambol Ban Lane, Amphur Bangpa-in, Ayutthaya 13160, Thailand. Early development focused on production to replace imports After the severe drop in TIV in 2020 due to the COVID-19 pandemic, sales in the ASEAN automotive market recovered from 2.5 million units in 2020 to 2.8 million units in 2021, a year Machine Group Holding PCL. The market is projected to reach US$ 77,887.0 million by 2032. Sales is projected to increase by 8.7% (YoY growth rate) in 2021 to 861,000 units. 29 Aug 2022 Industry Labour-intensive industries: Profits projected to decline by 5-15 percent due to minimum wage hike (Current Issue No.3340) KResearch views that an Automotive OS, autonomous mobility-as-a-service, and purpose-built vehicles are forecast to gain prominence in 2022. The Thailand Industry Outlook over the next 3 years (2022-2024) covers a range of factors that will have impacts on industries. Those factors include challenges and opportunities to represent the attractiveness of each industry that relies on the macroeconomic environment and sector-specific factors. ASEAN largest vehicle assembling capacity Annual assembling capacity of 1 million units Assembling industry of double-digits growth 2006 vehicle production increases 16 from last year to exceed 1.3 million units DUBLIN, Sept. 22, 2022 /PRNewswire/ -- The "Research Report on Thailand's Automobile Industry, 2022-2031" report has been added to ResearchAndMarkets.com's offering. Thailands Vision To be one of the most important EV production bases and component parts Key Objective In term of EV production and export EV production will be key industry same as current automotive industry. Automotive ECU or. 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