Asia-Pacific: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Asia-Pacific

The Asia-Pacific bed-convertible seat market contracted slightly to $X in 2021, dropping by -4.4% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the market value increased by 8.6%. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Bed-Convertible Seat Production in Asia-Pacific

In value terms, bed-convertible seat production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 9.8%. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Bed-Convertible Seat Exports

Exports in Asia-Pacific

Bed-convertible seat exports skyrocketed to X units in 2021, rising by 17% on 2020 figures. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% 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 +95.4% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, bed-convertible seat exports expanded rapidly to $X in 2021. Total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.0% against 2016 indices. The pace of growth was the most pronounced in 2020 when exports increased by 19% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, amounting to X units, which was near 80% of total exports in 2021. India (X units) held the second position in the ranking, followed by Thailand (X units). All these countries together held approx. 16% share of total exports. Vietnam (X units) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +4.5% from 2012 to 2021. At the same time, India (+76.4%), Thailand (+44.8%) and Vietnam (+27.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +76.4% from 2012-2021. While the share of India (+9.1 p.p.), Thailand (+5.9 p.p.) and Vietnam (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-16.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest bed-convertible seat supplier in Asia-Pacific, comprising 85% of total exports. The second position in the ranking was held by Vietnam ($X), with a 7.2% share of total exports. It was followed by Thailand, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +2.5%. In the other countries, the average annual rates were as follows: Vietnam (+28.2% per year) and Thailand (+30.6% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, shrinking by -7.8% against the previous year. In general, the export price recorded a perceptible setback. The pace of growth appeared the most rapid in 2013 when the export price increased by 4.7%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.8%), while the other leaders experienced a decline in the export price figures.

Bed-Convertible Seat Imports

Imports in Asia-Pacific

In 2021, purchases abroad of seats convertible into beds increased by 22% to X units, rising for the fourth consecutive year after two years of decline. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +115.0% against 2017 indices. The pace of growth was the most pronounced in 2018 when imports increased by 43%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, bed-convertible seat imports amounted to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.4% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 51%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

In 2021, Japan (X units), Australia (X units), the Philippines (X units), Thailand (X units) and South Korea (X units) was the main importer of seats convertible into beds in Asia-Pacific, comprising 87% of total import. The following importers - New Zealand (X units) and India (X units) - each reached a 4% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +47.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported seats convertible into beds in Asia-Pacific, comprising 44% of total imports. The second position in the ranking was taken by Australia ($X), with a 15% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at +6.1%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+4.0% per year) and South Korea (+2.6% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per unit, declining by -10.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 12%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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