Asia-Pacific: Swivel Seat Market 2024

Swivel Seat Market Size in Asia-Pacific

The Asia-Pacific swivel seat market surged to $X in 2022, with an increase of 110% against the previous year. Over the period under review, consumption showed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Swivel Seat Production in Asia-Pacific

In value terms, swivel seat production rose modestly to $X in 2022 estimated in export price. Overall, production saw strong growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 23% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Swivel Seat Exports

Exports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in shipments abroad of swivel seats with variable height adjustments, when their volume decreased by -84.9% to X units. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2019 when exports increased by 61% against the previous year. The volume of export peaked at X units in 2021, and then plummeted in the following year.

In value terms, swivel seat exports reduced to $X in 2022. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 45%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, China (X units) was the major exporter of swivel seats with variable height adjustments, achieving 59% of total exports. Vietnam (X units) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (13%). The following exporters - Malaysia (X units) and South Korea (X units) - together made up 5.3% of total exports.

From 2012 to 2022, average annual rates of growth with regard to swivel seat exports from China stood at -15.6%. At the same time, Vietnam (+58.4%), Taiwan (Chinese) (+46.2%) and South Korea (+12.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +58.4% from 2012-2022. By contrast, Malaysia (-1.7%) illustrated a downward trend over the same period. Vietnam (+22 p.p.), Taiwan (Chinese) (+13 p.p.), Malaysia (+2.1 p.p.) and South Korea (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -39% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest swivel seat supplier in Asia-Pacific, comprising 90% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.6% share of total exports. It was followed by Vietnam, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+40.8% per year) and Vietnam (+60.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, with an increase of 495% against the previous year. In general, the export price showed a significant increase. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Vietnam ($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 (+29.7%), while the other leaders experienced more modest paces of growth.

Swivel Seat Imports

Imports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in supplies from abroad of swivel seats with variable height adjustments, when their volume decreased by -13.4% to X units. In general, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 37% against the previous year. The volume of import peaked at X units in 2021, and then declined in the following year.

In value terms, swivel seat imports reduced to $X in 2022. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Japan (X units), South Korea (X units) and Australia (X units) represented roughly 59% of total imports in 2022. Thailand (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (5.2%). The following importers - Vietnam (X units), Singapore (X units), Malaysia (X units), Taiwan (Chinese) (X units), Indonesia (X units), India (X units), Hong Kong SAR (X units) and New Zealand (X units) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +23.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest swivel seat importing markets in Asia-Pacific were Japan ($X), Australia ($X) and South Korea ($X), together accounting for 61% of total imports. Thailand, Vietnam, Indonesia, India, Singapore, the Philippines, Taiwan (Chinese), Hong Kong SAR, Malaysia and New Zealand lagged somewhat behind, together comprising a further 38%.

Among the main importing countries, Vietnam, with a CAGR of +26.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, increasing by 2.5% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, swivel seat import price increased by +4.1% against 2019 indices. The growth pace was the most rapid in 2017 when the import price increased by 14% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 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 Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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