Asia: Automotive Lighting Market 2024

Automotive Lighting Market Size in Asia

After three years of growth, the Asian automotive lighting market decreased by -12.1% to $X in 2021. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Automotive Lighting Production in Asia

In value terms, automotive lighting production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 20%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Automotive Lighting Exports

Exports in Asia

In 2021, approx. X units of automotive lighting were exported in Asia; surging by 45% on the previous year. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.1% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, automotive lighting exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) represented the major exporter of automotive lighting, creating 62% of total exports. South Korea (X units) ranks second in terms of the total exports with a 13% share, followed by Taiwan (Chinese) (8.9%) and India (4.9%). The following exporters - Japan (X units) and Thailand (X units) - together made up 7.7% of total exports.

Exports from China increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, South Korea (+22.9%), India (+13.8%) and Thailand (+3.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of +22.9% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-1.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and India increased by +9.8 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest automotive lighting supplier in Asia, comprising 41% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total exports. It was followed by South Korea, with an 18% share.

In China, automotive lighting exports increased at an average annual rate of +8.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.1% per year) and South Korea (+15.2% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, waning by -6.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2017 an increase of 16% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.3%), while the other leaders experienced more modest paces of growth.

Automotive Lighting Imports

Imports in Asia

In 2021, approx. X units of automotive lighting were imported in Asia; rising by 28% compared with the year before. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, automotive lighting imports surged to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units), distantly followed by India (X units), Japan (X units), Thailand (X units), Vietnam (X units) and Malaysia (X units) were the largest importers of automotive lighting, together generating 68% of total imports. The United Arab Emirates (X units), South Korea (X units), Bangladesh (X units), Taiwan (Chinese) (X units), Turkey (X units), Indonesia (X units) and Iran (X units) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bangladesh (with a CAGR of +28.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported automotive lighting in Asia, comprising 43% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by South Korea, with a 6.6% share.

In China, automotive lighting imports expanded at an average annual rate of +12.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+4.3% per year) and South Korea (+13.2% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2016 an increase of 14% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2020, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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