Thailand’s automotive industry started back in the 1960s. In over six decades, the country has transformed from an assembler of automotive parts into one of the world’s top automotive manufacturing and export hubs. Today, Thailand has shipments bound for over 100 countries.
Thailand automotive market research can help you understand and navigate the country’s automotive market.
Thailand Automotive Market Research: Overview
Thailand’s automotive and auto parts industry accounts for almost 12% of the country’s economic growth and employs over 500,000 people. Thailand has an established presence of virtually all of the leading automakers, assemblers, and component manufacturers in the world.
Most automotive manufacturers and parts suppliers are located in Bangkok, Ayutthaya, Chonburi, Chachoengsao, Pathun Thani, Rayong, and Samutprakarn. These locations provide them with easy access to leading markets of Southeast Asia, China, and India.
Capacity of Automotive Production
Thailand’s automotive manufacturing started after the Thai government started to import automotive in the 1960s to expand the country’s economy. Automotive parts were generally focused on then, especially for automotive bodies and suspensions as their demand has increased.
As of the Q1 of 2022, Thailand’s automotive production capacity has reached nearly 500,000 units. Passenger cars dominate the country’s automotive production. Over 175,000 units were already produced in the Q1 of 2022 alone.
International Automotive Trading
The economy of Thailand relies on various significant industries. The automotive industry is one of them. It is Thailand’s second-largest export industry. In 2021, the output value of the industry accounted for over 10% of the country’s GDP.
A lion’s share of Thailand’s international trade is from international automotive trading, both inflow and outflow. In 2021, automotive and parts import was valued at 310 billion Thai baht, which was a significant increase from 2020.
The country’s automotive industry has not only a vibrant foreign OEM competition but also an extensive network of supporting industries. As Thailand continues to expand its manufacturing base, automotive part suppliers are increasing their presence within the country.
Thailand’s automotive market is dominated by Japanese automakers that have established the country as their production base of one-ton pickup trucks and eco cars for export. European and American automakers are gaining ground in Thailand as manufacturers of large, luxury cars.
The market share by OEM is as follows
- 27.4% Toyota
- 19% Isuzu
- 15% Honda
- 8% Mitsubishi
- 7% Nissan
- 24% other
Thailand offers incredible investment potential. The country is well-equipped for automotive production as virtually all automakers in the world have an established presence in the country. Our Thailand automotive market research can provide you with high-impact solutions and strategies.