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Thailand Automobile Manufacturing Industry Report 2018-2022 - Production to Exceed to 2.4 Million Units - ResearchAndMarkets.com

September 26, 2018

DUBLIN--(BUSINESS WIRE)--Sep 26, 2018--The “Research Report on Thailand’s Automobile Manufacturing Industry, 2018-2022” report has been added to ResearchAndMarkets.com’s offering.

With its superior geographic location and government support, Thailand has become the largest automobile producer in Southeast Asia, and is called the Detroit of Asia. Automobile manufacturing has long been the pillar industry of the Thai economy. In 2017, the output value of automobile manufacturing accounted for more than 10% of Thailand’s GDP.

From 2011 to 2012, the Thai government implemented the First-Time Buyer Program to encourage automobile consumption, which led to a rapid growth in automobile production and sales. However, the automobile production dropped by 25.77% in 2014 after the program expired. Despite a steady growth, it failed to recover to the 2.53 million units in 2013. The sales declined from 2013 to 2016, and rebounded to 873,000 units till 2017.

Thailand’s automotive industry is export-oriented. In the past five years, over 1 million automobiles were exported to ASEAN countries, Australia, the Middle East and Europe every year. The import volume is less. However, the import tariff on automobiles is expected to be lowered as Thailand signs more free trade agreements in recent years.

Thailand’s Eastern Economic Corridor initiative proposes to develop 10 target industries including the automotive industry in the eastern region. And the free trade agreements with Australia, China, India, New Zealand and other ASEAN countries will facilitate the development of overseas markets for Thailand’s automotive industry.

The reduction of import tariffs will also provide a price advantage for automobiles. New energy vehicles will grow rapidly in Thailand with the expiration of the lock-up period of the First-Time Buyer Program, more automobiles beyond the warranty period, and the government’s efforts to develop new energy vehicles. It is expected that in the next few years, the increase in residents’ income will promote automobile consumption in Thailand. And the exemption of import tariffs on automobiles in ASEAN countries will boost Thailand’s automobile exports.

The researcher expects that automobile production will continue to grow in Thailand from 2018 to 2022. It will exceed 2.4 million units in 2022, of which over 1.1 million units will be sold in Thailand and over 1.3 million units will be exported.

Key Topics Covered:

1 Basic Concept of Thailand’s Automobile Manufacturing Industry 1.1 Thailand’s Automobile Manufacturing Industry 1.2 Classification of Automobiles in Thailand

2 Analysi son Thailand’s Automobile Manufacturing Industry 2.1 Economic Environment 2.2 Policy Environment 2.3 Social Environment 2.4 Supply 2.5 Demand 2.6 Import and Export

3 Market Competition in Thailand’s Automobile Manufacturing Industry 3.1 Barriers to Entry 3.2 Competition Pattern

4 Major Automobile Manufacturers in Thailand, 2017-2018 4.1 Toyota Motor Corporation 4.2 Isuzu Motors Limited 4.3 Honda Motor Co., Ltd. 4.4 Mitsubishi Motors Corporation 4.5 Nissan Motor Co., Ltd. 4.6 Ford Motor Company 4.7 Mazda Motor Corporation 4.8 Suzuki Motor Corporation 4.9 General Motors 4.10 Mercedes-Benz

5 Analysis on Production Costs and Prices of Automobiles in Thailand, 2015-2018 5.1 Production Costs 5.2 Prices

6 Forecast on Development of Thailand’s Automobile Manufacturing Industry, 2018-2022 6.1 Factors Influencing Development of Thailand’s Automobile Manufacturing Industry 6.2 Forecast on Supply of Automobiles in Thailand, 2018-2022 6.3 Forecast on Market Demand for Automobiles in Thailand 6.4 Forecast on Automobile Import and Export in Thailand

For more information about this report visit https://www.researchandmarkets.com/research/82nj7n/thailand?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180926005650/en/

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Related Topics:Automotive Manufacturing

KEYWORD: ASIA PACIFIC THAILAND

INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/26/2018 10:37 AM/DISC: 09/26/2018 10:37 AM

http://www.businesswire.com/news/home/20180926005650/en

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