ASEAN: Swivel Seat Market 2024

Swivel Seat Market Size in ASEAN

The ASEAN swivel seat market soared to $X in 2022, surging by 36% against the previous year. Overall, consumption recorded a resilient increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Swivel Seat Production in ASEAN

In value terms, swivel seat production soared to $X in 2022 estimated in export price. In general, production posted a buoyant increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 114%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Swivel Seat Exports

Exports in ASEAN

In 2022, overseas shipments of swivel seats with variable height adjustments decreased by -0.4% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 384%. Over the period under review, the exports hit record highs at X units in 2021, and then fell slightly in the following year.

In value terms, swivel seat exports rose remarkably to $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 235% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam was the largest exporter of swivel seats with variable height adjustments in ASEAN, with the volume of exports recording X units, which was approx. 86% of total exports in 2022. It was distantly followed by Malaysia (X units), generating a 13% share of total exports.

Vietnam was also the fastest-growing in terms of the swivel seats with variable height adjustments exports, with a CAGR of +58.4% from 2012 to 2022. Malaysia (-1.7%) illustrated a downward trend over the same period. While the share of Vietnam (+81 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-78 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest swivel seat supplier in ASEAN, comprising 77% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +60.1%.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, growing by 5.6% against the previous year. In general, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2016 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.1%).

Swivel Seat Imports

Imports in ASEAN

After four years of growth, purchases abroad of swivel seats with variable height adjustments decreased by -17.2% to X units in 2022. Over the period under review, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 55% against the previous year. As a result, imports attained the peak of X units, and then dropped rapidly in the following year.

In value terms, swivel seat imports shrank to $X in 2022. In general, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 66%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Thailand (X units) represented the key importer of swivel seats with variable height adjustments, creating 34% of total imports. The Philippines (X units) held the second position in the ranking, followed by Vietnam (X units), Singapore (X units), Malaysia (X units) and Indonesia (X units). All these countries together took approx. 63% share of total imports. Myanmar (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to swivel seat imports into Thailand stood at +9.4%. At the same time, Malaysia (+23.2%), Vietnam (+20.4%), the Philippines (+14.5%), Singapore (+3.1%), Myanmar (+2.9%) and Indonesia (+1.6%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +23.2% from 2012-2022. While the share of Vietnam (+8.3 p.p.), Malaysia (+8 p.p.) and the Philippines (+6.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-9.7 p.p.) and Singapore (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest swivel seat importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Indonesia ($X), with a combined 67% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of +26.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, with an increase of 11% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, swivel seat import price increased by +19.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 23% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform