Asia-Pacific: 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-Pacific

In 2022, the Asia-Pacific market for electrical lighting or visual signaling equipment for motor vehicles and cycles was finally on the rise to reach $X after two years of decline. The total consumption indicated notable 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. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, lighting equipment for motor vehicles production totaled $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 in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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

Exports in Asia-Pacific

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 pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, lighting equipment for motor vehicles exports reduced slightly 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% against the previous year. As a result, the exports attained the peak of $X, and then reduced slightly in the following year.

Exports by Country

China prevails in exports structure, finishing at X units, which was approx. X% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units) and South Korea (X units), together creating a X% share of total exports. India (X units), Japan (X units), Thailand (X units) and Vietnam (X units) took a relatively small share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. 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-Pacific, 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. From 2012 to 2022, the share of China and Vietnam increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, growing 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%. The level of export peaked at $X per unit in 2017; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: 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-Pacific

In 2022, imports of electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia-Pacific amounted to X units, remaining stable against the previous year. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded 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 immediate term.

In value terms, lighting equipment for motor vehicles imports shrank to $X in 2022. Total imports indicated a buoyant 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

India represented the largest importing country with an import of around X units, which accounted for X% of total imports. It was distantly followed by China (X units), Vietnam (X units), Japan (X units), Thailand (X units) and Indonesia (X units), together creating a X% share of total imports. The following importers - Malaysia (X units) and South Korea (X units) - each recorded a X% share 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, Vietnam (X%), Indonesia (X%), South Korea (X%), Malaysia (X%), China (X%) and Thailand (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.), China (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a 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-Pacific amounted to $X per unit, dropping by X% against the previous year. In general, the import price continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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