Asia: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Asia

The Asian bed-convertible seat market dropped slightly to $X in 2021, shrinking by -4.2% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the market value increased by 9.6%. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Bed-Convertible Seat Production in Asia

In value terms, bed-convertible seat production reduced to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 10% against the previous year. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

Bed-Convertible Seat Exports

Exports in Asia

In 2021, the amount of seats convertible into beds exported in Asia soared to X units, increasing by 23% compared with 2020. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 +93.9% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, bed-convertible seat exports soared to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 +67.0% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of seats convertible into beds in Asia, with the volume of exports accounting for X units, which was near 70% of total exports in 2021. It was distantly followed by Turkey (X units), India (X units) and Thailand (X units), together constituting a 26% share of total exports. Vietnam (X units) took a minor 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%), Vietnam (+27.2%) and Turkey (+5.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +76.4% from 2012-2021. While the share of India (+8 p.p.), Thailand (+5.2 p.p.) and Vietnam (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-13.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest bed-convertible seat supplier in Asia, comprising 67% of total exports. The second position in the ranking was taken by Turkey ($X), with a 20% share of total exports. It was followed by Vietnam, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +2.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+4.2% per year) and Vietnam (+28.2% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, falling by -2.4% against the previous year. In general, the export price showed a pronounced downturn. The pace of growth was the most pronounced in 2013 when the export price increased by 4.6% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per unit), while India ($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

In 2021, overseas purchases of seats convertible into beds increased by 52% to X units, rising for the fourth year in a row after three years of decline. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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 +112.1% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bed-convertible seat imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X units), distantly followed by the Philippines (X units), Thailand (X units), Iraq (X units), South Korea (X units), Qatar (X units), the United Arab Emirates (X units) and Kazakhstan (X units) represented the largest importers of seats convertible into beds, together creating 84% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +47.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bed-convertible seat importing markets in Asia were Japan ($X), Iraq ($X) and Kazakhstan ($X), with a combined 53% share of total imports. South Korea, the United Arab Emirates, Thailand, Qatar and the Philippines lagged somewhat behind, together comprising a further 21%.

In terms of the main importing countries, the Philippines, with a CAGR of +33.9%, saw the highest growth rate of 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

In 2021, the import price in Asia amounted to $X per unit, approximately reflecting the previous year. In general, the import price continues to indicate a slight decrease. The growth pace was the most rapid in 2016 when the import price increased by 9.5% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the import prices remained at a lower figure.

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

Source: IndexBox Platform

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