Thailand Electric Motor Market (2024-2030) | Growth, Outlook, Revenue, Share, Segmentation, Analysis, Value, Trends, Size, Industry
Market Forecast By Motor Type (AC Motor, DC Motor), By Voltage Range (Low Voltage (0 -1000V), Medium Voltage (1000.1V-5000V), High Voltage (5000.1V & above)), By Application (Industrial Process, Automotive, HVAC (Heating, Ventilation and Air Conditioning Equipment), Power Generation, Consumer Appliances, Others (Aerospace, Defence, Transport Infrastructure, Agriculture, Wastewater Management)) And Competitive Landscape
| Product Code: ETC041106 | Publication Date: Dec 2023 | Updated Date: Nov 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 20 | No. of Tables: 5 | |
Thailand Electric Motor Market Competition 2023
Thailand Electric Motor market currently, in 2023, has witnessed an HHI of 3612, Which has increased slightly as compared to the HHI of 3067 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Thailand Export Potential Assessment For Electric Motor Market (Values in USD Thousand)
Topics Covered in Thailand Electric Motor Market Report
Thailand Electric Motor Market Report thoroughly covers the market by motor type, voltage and applications. Thailand Electric Motor Market Outlook report provides an unbiased and detailed analysis of the ongoing Thailand Electric Motor Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.
Thailand Electric Motor Market Synopsis
The Thailand Electric Motor market has seen significant development over the years, driven by industrial growth, infrastructure development, and advancements in various sectors such as automotive, HVAC, power generation, and consumer appliances. Thailand is often referred as the "Detroit of Asia" because of its strong automotive and manufacturing industry. During the 2000s and 2010s, the demand for brushed DC motors, induction motors, and permanent magnet motors grew significantly as automotive production, particularly for internal combustion engine (ICE) vehicles, expanded. During the COVID-19, the HVAC sector saw a rise in demand for air conditioning, ventilation, and air purification systems, but the automotive sector faced a sharp decline in production and sales due to supply chain disruptions, reduced consumer demand, and factory closures. Despite the downturn, the pandemic accelerated the global shift towards electric vehicles (EVs) and demand for BLDC and AC induction motors rises.
According to 6Wresearch, Thailand Electric Motor Market revenue is projected to grow at a CAGR of over 3.7% during 2024E-2030F. The market in the coming future would witness healthy growth on the back of government initiatives such as Thailand 4.0 and Eastern Economic Corridor (EEC) through advanced manufacturing, electric vehicle (EV) production, smart cities, and renewable energy projects. The Energy Efficiency Plan (EEP) promotes the use of IE3 and IE4 electric motors as a key strategy for improving energy efficiency and reducing electricity consumption across various industries. The Thailand's EV 3.5 Package is a government initiative aimed at boosting the adoption and production of electric vehicles (EVs), which in turn drives the demand for electric motors like brushless DC (BLDC) and AC induction motors. By promoting local production of electric motors and providing subsidies and tax incentives for EV manufacturing, the package is expected to strengthen Thailand's position as a key player in the global EV market.
Market Segmentation By Voltage
Low-voltage motors in Thailand maintain a dominant market position over medium and high-voltage motors due to their affordability in both initial investment and installation. Their extensive use ensures easy access to parts and repair services, reducing downtime and maintenance costs. While medium and high-voltage motors will experience growth in niche, high-power applications, they are unlikely to surpass the broad adoption of LV motors.
Market Segmentation By Applications
The HVAC sector in Thailand commands a leading position in the electric motor market, surpassing other sectors due to its extensive application beyond residential and commercial spaces The adoption of advanced technologies such as smart HVAC systems, variable frequency drives (VFDs), and IoT-enabled controls drives demand for high-performance electric motors. While sectors like automotive, industrial processes, and power generation will experience notable growth.
Market Segmentation By Motor Type
AC motors dominate Thailand's electric motor market, driven by their versatility, cost-effectiveness, and energy efficiency. With fewer components and lower maintenance needs compared to DC motors, AC motors help reduce operational costs and downtime, making them the preferred choice for industries prioritizing reliability and efficiency. While DC motors are gaining traction in specialized high-tech applications, they are expected to remain a secondary option to AC motors in the broader market.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Thailand Electric Motor Market Overview
- Thailand Electric Motor Market Outlook
- Thailand Electric Motor Market Forecast
- Thailand Electric Motor Market Porter’s Five Forces Analysis
- Thailand Electric Motor Market Industry Life Cycle Analysis
- Historical Data and Forecast of Thailand Electric Motor Market Revenues and Volume, for the Period 2020-2030F
- Market Drivers and Restraints
- Historical Data and Forecast of Thailand Electric Motor Market Revenues and Volume, By Motor Type, for the Period 2020-2030F
- Historical Data and Forecast of Thailand Electric Motor Market Revenues, By Voltage Range, for the Period 2020-2030F
- Historical Data and Forecast of Abu Dhabi Wholesale Market Revenues, By Application, for the Period 2020-2030F
- Key Performance Indicators
- Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Motor Type
- AC Motor
- DC Motor
By Voltage Range
- Low Voltage (0 -1000V)
- Medium Voltage (1000.1V-5000V)
- High Voltage (5000.1V & above)
By Application
- Industrial Process
- Automotive
- HVAC (Heating, Ventilation and Air Conditioning Equipment)
- Power Generation
- Consumer Appliances
- Others (Aerospace, Defence, Transport Infrastructure, Agriculture, Wastewater Management)
Thailand Electric Motor Market (2024-2030): FAQs
Thailand Electric Motor Market revenue is projected to grow at a CAGR of over 3.7% during 2024E-2030F
The Thailand electric motor market has seen substantial growth recently, fueled by robust demand across manufacturing, automotive, HVAC, and consumer appliances sectors.
The shortage of highly skilled personnel required to install, maintain, and operate complex electric motor systems, coupled with the high costs training, poses a significant challenge to the growth of Thailand's electric motor market.
Thailand Electric Motor Market Report thoroughly covers the market by motor type, voltage and applications.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 Thailand Electric Motor Market Overview |
| 3.1. Thailand Electric Motor Market Revenues and Volume, 2020-2030F |
| 3.2. Thailand Electric Motor Market - Industry Life Cycle |
| 3.3. Thailand Electric Motor Market - Porter’s Five Forces |
| 4 Thailand Electric Motor Market Dynamics |
| 4.1. Impact Analysis |
| 4.2. Market Drivers |
| 4.3. Market Restraints |
| 5 Thailand Electric Motor Market Trends and Evolution |
| 6 Thailand Electric Motor Market Overview, By Motor Type |
| 6.1 Thailand Electric Motor Market Revenue Share and Revenues, By Motor Type, 2023 & 2030F |
| 6.1.1 Thailand Electric Motor Market Revenues, By Alternate Current (AC) Motor, 2020-2030F |
| 6.1.2 Thailand Electric Motor Market Revenues, By Direct Current (DC) Motor, 2020-2030F |
| 6.2 Thailand Electric Motor Market Volume Share and Volume, By Motor Type, 2023 & 2030F |
| 6.1.1 Thailand Electric Motor Market Volume, By Alternate Current (AC) Motor, 2020-2030F |
| 6.1.2 Thailand Electric Motor Market Volume, By Direct Current (DC) Motor, 2020-2030F |
| 7 Thailand Electric Motor Market Overview, By Voltage Range |
| 7.1 Thailand Electric Motor Market Revenue Share and Revenues, By Voltage Range, 2023 & 2030F |
| 7.1.1 Thailand Electric Motor Market Revenues, By Low Voltage (0 -1000V), 2020-2030F |
| 7.1.2 Thailand Electric Motor Market Revenues, By Medium Voltage (1000.1V-5000V), 2020-2030F |
| 7.1.3 Thailand Electric Motor Market Revenues, By High Voltage (5000.1V & above), 2020-2030F |
| 8 Thailand Electric Motor Market Overview, By Application |
| 8.1 Thailand Electric Motor Market Revenue Share and Revenues, By Application, 2023 & 2030F |
| 8.1.1 Thailand Electric Motor Market Revenue Share and Revenues, By Industrial Process, 2020-2030F |
| 8.1.2 Thailand Electric Motor Market Revenue Share and Revenues, By Automotive, 2020-2030F |
| 8.1.3 Thailand Electric Motor Market Revenue Share and Revenues, By Heating Ventilating And Cooling (HVAC) Equipment, 2020-2030F |
| 8.1.4 Thailand Electric Motor Market Revenue Share and Revenues, By Power Generation, 2020-2030F |
| 8.1.5 Thailand Electric Motor Market Revenue Share and Revenues, By Consumer Appliances, 2020-2030F |
| 8.1.6 Thailand Electric Motor Market Revenue Share and Revenues, By Others, 2020-2030F |
| 9 Thailand Electric Motor Market - Key Performance Indicators |
| 10 Thailand Electric Motor Market - Opportunity Assessment |
| 10.1. Thailand Electric Motor Market Opportunity Assessment, By Motor Type, 2030F |
| 10.2. Thailand Electric Motor Market Opportunity Assessment, By Voltage Range, 2030F |
| 10.3. Thailand Electric Motor Market Opportunity Assessment, By Application, 2030F |
| 11 Thailand Electric Motor Market Competitive Landscape |
| 11.1 Thailand Electric Motor Market Revenue Share, By Companies, 2023 |
| 11.2 Thailand Electric Motor Market Competitive Benchmarking, By Technical Parameters |
| 11.3 Thailand Electric Motor Market Competitive Benchmarking, By Operating Parameters |
| 12 Company Profiles |
| 12.1 ABB Thailand |
| 12.2 Siemens Limited Thailand |
| 12.3 Weg SA |
| 12.4 Panasonic (Thailand) Co., Ltd |
| 12.5 Mitsubishi Electric Corporation |
| 12.6 Emerson Electric Ltd |
| 12.7 Toshiba Asia Pacific Pte. Ltd. |
| 12.8 Fuji Electric (Thailand) Co., Ltd. |
| 12.9 Nmb Minebea Thai Ltd. |
| 12.10 Kusatsu Electric (Thailand) Co, Ltd. |
| 13 Key Strategic Recommendations |
| 14 Disclaimer |
| List of Figures |
| 1. Thailand Electric Motor Market Revenues and Volume, 2020-2030F (USD Million, Thousand Units) |
| 2. Thailand Energy Consumption, By Sector 2021 |
| 3. Share of Energy Saving by Economic Sector in 2030 |
| 4. Estimated Public and Private investment on EEC, 2022 |
| 5. Thailand Highly Skilled Professionals, 2022 |
| 6. Thailand Minimum Labor Wages, 2022-2027F (US$) |
| 7. Thailand Electric Motor Market Revenue Share, By Motor Type, 2023 & 2030F |
| 8. Thailand Electric Motor Market Volume Share, By Motor Type, 2023 & 2030F |
| 9. Thailand Electric Motor Market Revenue Share, By Voltage Range 2023 & 2030F |
| 10. Thailand Electric Motor Market Revenue Share, By Application 2023 & 2030F |
| 11. Thailand AC Components (motors, compressors) |
| 12. Thailand AC Market Revenue (USD Billion) |
| 13. Manufacturing Production Index (MPI), Q1 2022 – Q1 2023 |
| 14. Automotive Production (In Thousand Units), 2020 – 2030F |
| 15. Thailand Electric Motor Market Opportunity Assessment, By Motor Type, 2030F |
| 16. Thailand Electric Motor Market Opportunity Assessment, By Voltage Range, 2030F |
| 17. Thailand Electric Motor Market Opportunity Assessment, By Application, 2030F |
| 18. Thailand Electric Motor Market Revenue Share, By Companies, 2023 |
| 19. Eastern Economic Corridor (EEC) |
| 20. BOI approved project for EV manufacturing, 2022 |
| List of Tables |
| 1. Subsidies and tax privileges in the new EV3.5 incentive package approved by the Cabinet, Thailand, 2024-2027 |
| 2. Thailand Electric Motor Market Revenues, By Motor Type, 2020-2030F ($ Million) |
| 3. Thailand Electric Motor Market Volume, By Motor Type, 2020-2030F ($ Million) |
| 4. Thailand Electric Motor Market Revenues, By Voltage Range, 2020-2030F ($ Million) |
| 5. Thailand Electric Motor Market Revenues, By Application, 2020-2030F ($ Million) |
Market Forecast By Motor Type (Alternate Current (AC) Motor, Direct Current (DC) Motor, Hermetic Motor), By Output Power, By Voltage Range (9 V & Below, 10-20 V, 21-60 V, 60 V & Above), By Application (Industrial machinery, Motor vehicles, Heating, ventilating, and cooling (HVAC) equipment, Aerospace & transportation, Household appliances, Other), By Speed (RPM) (Low-Speed Electric Motors (Less Than 1,000 RPM), Medium-Speed Electric Motors (1,001-25,000 RPM), High-Speed Electric Motors (25,001-75,000 RPM), Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM)) And Competitive Landscape
| Product Code: ETC041106 | Publication Date: Jan 2021 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Thailand Electric Motor Market | Country-Wise Share and Competition Analysis
In the year 2021, China was the largest exporter in terms of value, followed by Japan. It has registered a growth of 37.85% over the previous year. While Japan registered a growth of 4.34% as compared to the previous year. In the year 2017, China was the largest exporter followed by Japan. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Thailand has a Herfindahl index of 2515 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 3052 which signifies high concentration in the market.
Latest 2023 Developments of the Thailand Electric Motor Market
The Thailand Electric Motor Market is attaining growth and developments that are happening in the market play a crucial role in the market growth. The expansion in adoption of energy-efficient motors is one of the key trends that helps in the progression of the market. The government regulations for promoting sustainability as well as decreasing carbon emissions also fuel the Thailand Electric Motor Market Growth. The emergence of advanced technologies for electric motors is another exciting development. The adoption of advanced technologies is becoming popular owing to their potential to enhance the performance of motors and decrease the energy consumption. These advanced motors can be linked to networks allowing remote monitoring, optimizing performance in real-time, and predictive maintenance.
Topics Covered in Thailand Electric Motor Market Report
The Thailand Electric Motor Market report thoroughly covers the market by motor type, voltage range, applications, and speed. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Thailand Electric Motor Market is projected to grow over the coming year. The Thailand Electric Motor Market report is a part of our periodical regional publication Asia Pacific Electric Motor Market outlook report. 6W tracks electric motor market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Electric Motor Market outlook report annually.
Thailand Electric Motor Market Synopsis
Thailand Electric Motor Market is anticipated to gain momentum over the forecast period owing to the increasing disposable income. The rising environmental issues along with the rising level of global warming beholds the growth of the market in Thailand. The market is progressing effectively in the country.
According to 6Wresearch, the Thailand Electric Motor Market size is projected to register growth during 2020-2026. The shift of the automotive industry towards electric mobility beholds the increasing development in the market. The growing initiatives of the government such as tax concession to promote electric vehicles is leading to an upsurge in the demand for electric motor. Additionally, the consumer penetration towards the alleviation of fossil fuels is shifting the market towards electric motors further leading to the growth of the market. The establishment of heating, ventilation, and air conditioner backed by the expansion of offices and shopping malls beholds the increasing growth of the market. The implementations of advanced technology is becoming popular due to their potential to improve the performance of motors and decrease the energy consumption. Such advanced motors can be associated to networks allowing remote monitoring, optimizing performance in real-time, as well as predictive maintenance.
COVID-19 Impact on Thailand Electric Motor Market
Reduced industrial demand, the slowdown in infrastructure projects, shift in consumer priorities, disruptions in supply chains, and investment constraints are some of the negative impacts the pandemic brought into the Electric Motor Market in Thailand. There is no denying that the pandemic resulted in disruptions in supply chains which affected the significance of electric motor parts as well as finished products. A number of restrictions on transportation and trade also led to shortages and delays, impacting the availability of these electric motors in the sector. The infrastructure projects were delayed during the pandemic and this significantly affected the demand for the electric motors that are used in such projects.
Thailand Electric Motor Industry: Key Players
Some of the most prominent market players include:
- ABB Thailand Ltd.
- Hitachi Industrial Equipment Systems (Thailand) Co., Ltd.
- Mitsubishi Electric Factory Automation (Thailand) Co., Ltd.
- WEG Thailand Co., Ltd.
- Toshiba Industrial Products Asia (Thailand) Co., Ltd.
- Fuji Electric (Thailand) Co., Ltd.
Market by Motor Type
According to Suryakant, Senior Research Analyst, 6Wresearch, the AC motor segment accounted for the largest share and is expected to dominate the Electric Motor Market in Thailand during the forecast period.
Market by Speed
Based on Speed, the high-speed segment is leading the market and is expected to do the same during the upcoming years as well.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2016 to 2019.
- Base Year: 2019
- Forecast Data until 2026.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Thailand Electric Motor Market Outlook
- Market Size of Thailand Electric Motor Market, 2019
- Forecast of Thailand Electric Motor Market, 2026
- Historical Data and Forecast of Thailand Electric Motor Revenues & Volume for the Period 2016 - 2026
- Thailand Electric Motor Market Trend Evolution
- Thailand Electric Motor Market Drivers and Challenges
- Thailand Electric Motor Price Trends
- Thailand Electric Motor Porter's Five Forces
- Thailand Electric Motor Industry Life Cycle
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Motor Type for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Voltage Range for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By 10-20 V for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By 21-60 V for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Application for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Industrial machinery for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Motor vehicles for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Household appliances for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Other for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2016 - 2026
- Historical Data and Forecast of Thailand Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2016 - 2026
- Thailand Electric Motor Import Export Trade Statistics
- Market Opportunity Assessment By Motor Type
- Market Opportunity Assessment By Voltage Range
- Market Opportunity Assessment By Application
- Market Opportunity Assessment By Speed (RPM)
- Thailand Electric Motor Top Companies Market Share
- Thailand Electric Motor Competitive Benchmarking By Technical and Operational Parameters
- Thailand Electric Motor Company Profiles
- Thailand Electric Motor Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Motor Type
- Alternate Current (AC) Motor
- Direct Current (DC) Motor
- Hermetic Motor
By Voltage Range
- 9 V & Below
- 10-20 V
- 21-60 V
- 60 V & Above
By Application
- Industrial Machinery
- Motor Vehicles
- Heating
- Ventilating, And Cooling (HVAC) Equipment
- Aerospace & Transportation
- Household Appliances
- Other
By Speed
- Low-Speed Electric Motors (Less Than 1,000 RPM)
- Medium-Speed Electric Motors (1,001-25,000 RPM)
- High-Speed Electric Motors (25,001-75,000 RPM)
- Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM))
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