Asia: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Asia

After two years of decline, the Asian market for electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to $X in 2022. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Asia

In value terms, lighting equipment for motor vehicles production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports in Asia

In 2022, overseas shipments of electrical lighting or visual signaling equipment for motor vehicles and cycles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units, and then dropped in the following year.

In value terms, lighting equipment for motor vehicles exports fell to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

China dominates exports structure, reaching X units, which was approx. X% of total exports in 2022. Taiwan (Chinese) (X units) held the second position in the ranking, followed by South Korea (X units). All these countries together took near X% share of total exports. India (X units), Japan (X units), Thailand (X units) and Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lighting equipment for motor vehicles exports from China stood at X%. At the same time, Vietnam (X%), India (X%), South Korea (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest lighting equipment for motor vehicles supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Taiwan (Chinese) ($X per unit), while India ($X per unit) was amongst the lowest.

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

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports in Asia

In 2022, imports of electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia expanded modestly to X units, growing by X% on the year before. Over the period under review, imports enjoyed prominent growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, lighting equipment for motor vehicles imports shrank to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, India (X units) was the major importer of electrical lighting or visual signaling equipment for motor vehicles and cycles, generating X% of total imports. It was distantly followed by China (X units), Vietnam (X units), Japan (X units), Thailand (X units) and the United Arab Emirates (X units), together creating a X% share of total imports. The following importers - Indonesia (X units), Malaysia (X units), South Korea (X units), Bangladesh (X units), Turkey (X units), Taiwan (Chinese) (X units) and Hong Kong SAR (X units) - together made up X% of total imports.

India was also the fastest-growing in terms of the electrical lighting or visual signaling equipment for motor vehicles and cycles imports, with a CAGR of X% from 2012 to 2022. At the same time, Bangladesh (X%), Vietnam (X%), Indonesia (X%), South Korea (X%), Malaysia (X%), Taiwan (Chinese) (X%), China (X%), the United Arab Emirates (X%), Turkey (X%) and Thailand (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. India (X p.p.), Vietnam (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates, Hong Kong SAR, Thailand, China and Japan saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

In China, lighting equipment for motor vehicles imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, waning by X% against the previous year. Overall, the import price recorded a mild decline. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 China ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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