Thailand Automotive Market (2023-2029) Outlook | Value, Forecast, Size, Trends, Share, Companies, Growth, Analysis, Industry, COVID-19 IMPACT & Revenue

Market Forecast By Product Type (Electric, Hybrid Electric, Plug-In Hybrid Electric, Mild Hybrid, Natural Gas, Fuel Cell Electric, Diesel, Petrol) And Competitive Landscape

Product Code: ETC431781	Publication Date: Oct 2022	Updated Date: Apr 2024	Product Type: Market Research Report
Publisher: 6Wresearch	No. of Pages: 75	No. of Figures: 35	No. of Tables: 20

Report Description
Related Topics

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Topics Covered in the Thailand Automotive Market

The Thailand Automotive Market report thoroughly covers the market by product type. The market outlook 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 Automotive Market Synopsis

Thailand Automotive Market is one of the well-established industries and the country is a major hub for car production in Southeast Asia. The automotive market has been influenced by government policies, export demand, and changing consumer preferences. Apart from this, growing interest in electric and hybrid vehicles and incentives for the automotive industry and efforts to promote eco-friendly vehicles are some of the major trends in the market.

According to 6Wresearch, the Thailand Automotive Market Size is projected to amount to US$12.67bn during the forecast period of 2023-2029. The government has implemented policies and provided incentives to attract automotive manufacturers, including tax breaks, investment promotion measures, and infrastructure development. Also, the country boasts a well-developed automotive manufacturing ecosystem, including a skilled labor force and modern production facilities. Moreover, surging consumer demand and rapid urbanization have led to a growing middle class with higher purchasing power, driving demand for passenger cars and motorcycles. However, Thailand faces intense competition from other automotive hubs globally, including countries in the ASEAN region, China, and India.

Further, the industry is under pressure to adopt more sustainable and eco-friendly practices, including the production of electric vehicles (EVs) and the reduction of emissions. Apart from this, there is a growing emphasis on the development and adoption of electric and hybrid vehicles, driven by environmental concerns and technological advancements. There are opportunities for investment in the production of electric vehicles and their components. The future of the Thailand automotive market is anticipated to be shaped by continued advancements in technology, particularly in the electric and autonomous vehicle segments.

Government policies and schemes introduced in the Thailand Automotive Market

Thailand has implemented various government policies and schemes to support the automotive industry. These policies attract investment, foster technological advancements, and ensure sustainable growth. There are various key government policies and schemes introduced in the Thailand automotive industry including the Eco Car Program. This program was launched to encourage the production of environmentally friendly vehicles. It provides incentives for manufacturers to produce energy-efficient and low-emission vehicles. Participants in the program receive tax privileges and other benefits. Moreover, the Thailand Board of Investment (BOI) offers various incentives to automotive manufacturers and related industries. These incentives include tax exemptions, import duty reductions, and other financial benefits for companies that invest in specific activities related to the automotive sector.

Market Analysis by Product Type

According to Shivani, Senior Research Analyst, 6Wresearch, electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) are expected to dominate the Thailand Automotive Market Share in the future years due to government incentives, an increasing focus on environmental sustainability, and improvements in charging infrastructure.

Key Players in the Thailand Automotive Market

The market is highly competitive with the presence of various prominent players such as:

Toyota Motor Corporation
Honda Motor Co., Ltd.
Isuzu Motors Limited
Ford Motor Company
Nissan Motor Co., Ltd.

Key attractiveness of the report

COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2019 to 2022.
Base Year: 2022.
Forecast Data until 2029.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report

Thailand Automotive Market Outlook
Market Size of Thailand Automotive Market, 2022
Forecast of Thailand Automotive Market, 2029
Historical Data and Forecast of Thailand Automotive Revenues & Volume for the Period 2019-2029
Thailand Automotive Market Trend Evolution
Thailand Automotive Market Drivers and Challenges
Thailand Automotive Price Trends
Thailand Automotive Porter's Five Forces
Thailand Automotive Industry Life Cycle
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Product Type for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Electric for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Hybrid Electric for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Plug-In Hybrid Electric for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Mild Hybrid for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Natural Gas for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Fuel Cell Electric for the Period 2019-2029
Historical Data and Forecast of Thailand Automotive Market Revenues & Volume By Diesel for the Period 2019-2029
Historical Data and Forecast of Thailand Electric Automotive Market Revenues & Volume By Petrol for the Period 2019-2029
Thailand Automotive Import Export Trade Statistics
Market Opportunity Assessment By Product Type
Thailand Automotive Top Companies Market Share
Thailand Automotive Competitive Benchmarking By Technical and Operational Parameters
Thailand Automotive Company Profiles
Thailand Automotive Key Strategic Recommendations