Steel for engineering or mechanical applications

The market value of engineering or mechanical parts in Thailand is quite significant. This reflects the country's growth as a manufacturing hub in Southeast Asia. Here are some key insights:

• Value-added: Added value in the engineering or mechanical market. The device is expected to be valued at US$3.3 billion in 2024.
• Growth Rate: It is expected to register a compound annual growth rate (CAGR) of 1.49% from 2024 to 2029.
• Export value: 2022 Export value of engineering or mechanical parts Thailand's equipment is valued at approximately US$23.8 billion, up from 2021.

The industrial machinery market in Thailand has a wide range of machines, such as manufacturing equipment. Construction Machinery and Agricultural Machinery the key drivers for the growth of this market include infrastructure development, increasing foreign investment, and the growing automotive industry. The Thai government's emphasis on promoting advanced manufacturing technologies and Industry 4.0 initiatives has spurred a demand for more advanced industrial machinery and automation solutions. It is expected to drive continuous market growth providing opportunities for both domestic and foreign manufacturers. Please note that these figures are forecasts and actual market conditions may vary depending on various factors, including economic changes and global market trends.

When it comes to steel to this engineering or mechanical parts industry, Steel plays a very important role in the growth of Thailand's engineering or mechanical parts industry. Steel is the basic material used in the production of machinery and engineering parts that are the backbone of various industries, including automotive, construction, and agriculture. Therefore, the machinery and engineering parts industry is considered an important industry that supports Thailand's manufacturing sector. This contributes significantly to the overall economy. The trade value of machinery and engineering parts has grown significantly. It indicates the importance of steel as an important ingredient.

Leong Jin has steel for making machine spare parts, also known as special grade engineering steel for high-end engineering parts such as:

• Steel Making Machine Drive Shaft Grade AISI4140HT, AISI4340HT, AISI8620
• Steel Pulley & Cam Sprocket Grade DIN1.5918, DIN1.5919, DIN1.6587
• STEEL FOR WOOD CUTTING BLADES GRADE AISI4140HT, AISI4340HT, PERDUR, EVERHARD, CREUSABRO