Asia-Pacific: Metal Vehicle Lock Market 2025

Metal Vehicle Lock Market Size in Asia-Pacific

In 2021, the Asia-Pacific metal vehicle lock market increased by 3.6% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 with an increase of 7%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Metal Vehicle Lock Production in Asia-Pacific

In value terms, metal vehicle lock production reached $X in 2021 estimated in export price. Overall, production, however, showed a slight slump. The pace of growth appeared the most rapid in 2016 with an increase of 8.8% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Metal Vehicle Lock Exports

Exports in Asia-Pacific

In 2021, overseas shipments of base metal motor vehicle locks increased by 21% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, metal vehicle lock exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a mild contraction. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 68% of total exports in 2021. South Korea (X tons) held the second position in the ranking, followed by India (X tons). All these countries together held near 16% share of total exports. Thailand (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons) and Japan (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to metal vehicle lock exports from China stood at +1.2%. At the same time, Vietnam (+39.3%), Taiwan (Chinese) (+7.0%) and India (+5.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +39.3% from 2012-2021. By contrast, Thailand (-3.9%), South Korea (-5.7%) and Japan (-11.0%) illustrated a downward trend over the same period. While the share of China (+9.5 p.p.), Vietnam (+3.3 p.p.), India (+3 p.p.) and Taiwan (Chinese) (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-1.6 p.p.), Japan (-4.8 p.p.) and South Korea (-5.4 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest metal vehicle lock supplier in Asia-Pacific, comprising 53% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by Thailand, with a 10% share.

In China, metal vehicle lock exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-4.0% per year) and Thailand (-1.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 2.6% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 18% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.4%), while the other leaders experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports in Asia-Pacific

In 2021, purchases abroad of base metal motor vehicle locks increased by 14% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, saw a pronounced reduction. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, metal vehicle lock imports soared to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Japan represented the major importer of base metal motor vehicle locks in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 39% of total imports in 2021. China (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (7%), Malaysia (5.3%), South Korea (5.2%), Thailand (5%) and India (4.8%).

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +3.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X), Japan ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 69% of total imports. Malaysia, South Korea, India and Indonesia lagged somewhat behind, together comprising a further 21%.

Malaysia, with a CAGR of +4.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, increasing by 7.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, import 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 importing countries. In 2021, the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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