Asia-Pacific: Transportation Vehicle Body Market 2025

Transportation Vehicle Body Market Size in Asia-Pacific

The Asia-Pacific transportation vehicle body market shrank to $X in 2022, which is down by -3.4% against the previous year. Over the period under review, consumption, however, showed a remarkable increase. As a result, consumption reached 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-Pacific

In value terms, transportation vehicle body production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Transportation Vehicle Body Exports

Exports in Asia-Pacific

In 2022, overseas shipments of bodies for motor vehicles for the transporting people increased by 34% to X units, rising for the third year in a row after two years of decline. In general, exports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2021 when exports increased by 60% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, transportation vehicle body exports skyrocketed to $X in 2022. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 116% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China represented the major exporter of bodies for motor vehicles for the transporting people in Asia-Pacific, with the volume of exports resulting at X units, which was near 60% of total exports in 2022. Thailand (X units) took the second position in the ranking, followed by India (X units). All these countries together took approx. 31% share of total exports. Malaysia (X units), Indonesia (X units) and Japan (X units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to transportation vehicle body exports from China stood at +37.9%. At the same time, India (+63.1%), Indonesia (+52.9%) and Malaysia (+45.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +63.1% from 2012-2022. By contrast, Thailand (-6.8%) and Japan (-24.0%) illustrated a downward trend over the same period. While the share of China (+57 p.p.), India (+15 p.p.), Malaysia (+2.6 p.p.) and Indonesia (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-30 p.p.) and Japan (-37.8 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest transportation vehicle body supplier in Asia-Pacific, comprising 88% of total exports. The second position in the ranking was held by Thailand ($X), with a 3.3% share of total exports. It was followed by India, with a 2.7% share.

In China, transportation vehicle body exports increased at an average annual rate of +36.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+8.1% per year) and India (+43.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, increasing by 47% against the previous year. Overall, the export price recorded a tangible expansion. The growth pace was the most rapid in 2020 when the export price increased by 48%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 China ($X per unit), while Malaysia ($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-Pacific

In 2022, overseas purchases of bodies for motor vehicles for the transporting people increased by 21% to X units, rising for the second year in a row after three years of decline. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 260%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, transportation vehicle body imports fell sharply to $X in 2022. Over the period under review, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 78%. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, India (X units) was the largest importer of bodies for motor vehicles for the transporting people, achieving 53% of total imports. Myanmar (X units) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (11%), Thailand (5%) and the Philippines (4.8%). South Korea (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +27.6% from 2012 to 2022. At the same time, Myanmar (+74.3%), the Philippines (+35.8%), Malaysia (+25.0%), South Korea (+17.0%) and Thailand (+6.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +74.3% from 2012-2022. While the share of India (+27 p.p.), Myanmar (+20 p.p.), Malaysia (+4.3 p.p.) and the Philippines (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-10.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest transportation vehicle body importing markets in Asia-Pacific were India ($X), Malaysia ($X) and Thailand ($X), with a combined 78% share of total imports. The Philippines, South Korea and Myanmar lagged somewhat behind, together accounting for a further 3.5%.

The Philippines, with a CAGR of +51.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, shrinking by -34.1% against the previous year. In general, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 140% against the previous year. Over the period under review, import prices hit record highs 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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