Asia-Pacific: Invalid Carriage Market 2024

Invalid Carriage Market Size in Asia-Pacific

In 2022, the Asia-Pacific invalid carriage market decreased by -9.4% to $X, falling for the second consecutive year after nine years of growth. The market value increased at an average annual rate of +2.4% over the period 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 2016 when the market value increased by 7.9% against the previous year. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Invalid Carriage Production in Asia-Pacific

In value terms, invalid carriage production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 17%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Invalid Carriage Exports

Exports in Asia-Pacific

In 2022, the amount of invalid carriages not mechanically propelled exported in Asia-Pacific surged to X units, increasing by 16% compared with the previous year. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.6% 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 +50.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, invalid carriage exports amounted to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 +63.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, resulting at X units, which was near 96% of total exports in 2022. India (X units) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, India (+13.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +13.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest invalid carriage supplier in Asia-Pacific, comprising 94% of total exports. The second position in the ranking was taken by India ($X), with a 3.7% share of total exports.

In China, invalid carriage exports increased at an average annual rate of +8.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, remaining constant against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 9.4%. As a result, the export price reached the peak level of $X per unit, and then dropped modestly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.7%).

Invalid Carriage Imports

Imports in Asia-Pacific

In 2022, approx. X units of invalid carriages not mechanically propelled were imported in Asia-Pacific; waning by -5.9% compared with 2021 figures. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +20.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, invalid carriage imports dropped modestly to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +20.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. As a result, imports reached the peak of $X, and then declined modestly in the following year.

Imports by Country

In 2022, Japan (X units), distantly followed by India (X units), Malaysia (X units), the Philippines (X units), Australia (X units), South Korea (X units), Vietnam (X units), Thailand (X units) and Taiwan (Chinese) (X units) represented the largest importers of invalid carriages not mechanically propelled, together generating 81% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +14.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported invalid carriages not mechanically propelled in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was taken by Australia ($X), with a 16% share of total imports. It was followed by South Korea, with a 4.7% share.

In Japan, invalid carriage imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+9.4% per year) and South Korea (+4.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, surging by 2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 12%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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