Industry Report: Motorcycles Industry in Thailand

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Report Overview - Motorcycles Industry Overview in Thailand

Salient Nature/Key Features of the Industry

• Thailand manufactures and sells a large number of motorcycles. When comparing to other ASEAN peers, however, it lags behind Indonesia and Vietnam. Motorcycles are only popular outside of major cities such as Bangkok
• Japanese players dominate the industry, similar to automobile, with products focused in family/commuting segment. Though there are some who engage in recreational/luxury motorcycle segment as well. The non-JP players heavily focus in luxury
• The largest segment is the family/commuting segment (76% of production)
• 90% of the motorcycle production serves the domestic market with exports making up the rest
• Key export markets go to China, the US, Belgium
• The industry is supported by tax and non-tax incentives

Value Chain/Business Model

• Two main local segmentation: Family/Commuting and Recreational/Luxury. Family/commuting has low engine size, used for short commute. Recreational/luxury goes for larger motorcycles capable of handling long-distance traveling
• With the rise of EVs, there are now EV motorcycles from startups in Thailand, Singapore
• The supply chain is integrated with parts procured domestically. For brands like Honda, GPX, they even have R&D centres for motorcycles here in Thailand
• Distribution is primarily done via manufacturer-owned + authorised dealers, while independent dealers handle imported or highly customised motorcycles

Others

• Imports, though small, mainly come from Indonesia, Vietnam and Japan

Motorcycles Value Chain

Report Index

Industry Overview

• Thai Motorcycle Market Large but Trails Regional Counterparts in Production, Sales, Ownership
• Industry Dominated by Japanese Manufacturers; Distribution via Authorised and Independent Dealers
• Industry Supported by Government Incentives; Country Plans to Promote Electric Motorcycles

Market Trends

• Production Mostly Driven by Domestic Motorcycle Sales; Production and Sales Rebound in 2021; the Commuter Segment Remains Largest Category
• Export and Import Value Grows over 2010–21

Competitive Trends

• Japanese Players Dominate Capacity; Electric Motorcycles Bring Fresh Entrants
• Thai Honda Dominant Player in Country’s Motorcycle Industry
• Thai Yamaha Motor Second-Largest Player                        
• Thai Suzuki Motor Enters Thailand Through Local Partners

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