Asia: Transportation Vehicle Body Market 2024

Transportation Vehicle Body Market Size in Asia

The Asian transportation vehicle body market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption recorded a buoyant increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Transportation Vehicle Body Production in Asia

In value terms, transportation vehicle body production contracted to $X in 2022 estimated in export price. In general, production saw prominent growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 46%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Transportation Vehicle Body Exports

Exports in Asia

In 2022, shipments abroad of bodies for motor vehicles for the transporting people increased by 47% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports posted resilient growth. The growth pace was the most rapid in 2021 with an increase of 62%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, transportation vehicle body exports skyrocketed to $X in 2022. In general, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporting country with an export of around X units, which amounted to 53% of total exports. Thailand (X units) held the second position in the ranking, followed by India (X units) and Uzbekistan (X units). All these countries together held near 39% share of total exports. The following exporters - Malaysia (X units), Indonesia (X units) and Japan (X units) - each accounted for a 5.8% share of total exports.

Exports from China increased at an average annual rate of +37.9% from 2012 to 2022. At the same time, Uzbekistan (+1,325.5%), India (+63.1%), Indonesia (+52.9%) and Malaysia (+45.5%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +1,325.5% from 2012-2022. By contrast, Thailand (-6.8%) and Japan (-24.0%) illustrated a downward trend over the same period. China (+49 p.p.), India (+13 p.p.), Uzbekistan (+12 p.p.), Malaysia (+2.3 p.p.) and Indonesia (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Japan saw its share reduced by -33.1% and -39.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest transportation vehicle body supplier in Asia, comprising 66% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 25% share of total exports. It was followed by Thailand, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +36.4%. In the other countries, the average annual rates were as follows: Uzbekistan (+1,401.5% per year) and Thailand (+8.1% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, picking up by 63% against the previous year. In general, the export price showed resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.9%), while the other leaders experienced more modest paces of growth.

Transportation Vehicle Body Imports

Imports in Asia

In 2022, supplies from abroad of bodies for motor vehicles for the transporting people increased by 59% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 171% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, transportation vehicle body imports skyrocketed to $X in 2022. In general, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan (X units) and India (X units) represented roughly 63% of total imports in 2022. Myanmar (X units) ranks next in terms of the total imports with a 12% share, followed by Iran (7.6%) and Malaysia (6.1%). The following importers - Thailand (X units) and the Philippines (X units) - each amounted to a 5.5% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +74.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constitutes the largest market for imported bodies for motor vehicles for the transporting people in Asia, comprising 63% of total imports. The second position in the ranking was held by Iran ($X), with a 13% share of total imports. It was followed by India, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan amounted to +24.5%. In the other countries, the average annual rates were as follows: Iran (+74.7% per year) and India (+5.1% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, with an increase of 6.8% against the previous year. In general, the import price, however, saw a pronounced slump. The growth pace was the most rapid in 2019 when the import price increased by 102%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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