Asia: Swivel Seat Market 2024

Swivel Seat Market Size in Asia

The Asian swivel seat market skyrocketed to $X in 2022, rising by 87% against the previous year. Overall, consumption enjoyed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Swivel Seat Production in Asia

In value terms, swivel seat production totaled $X in 2022 estimated in export price. In general, production recorded a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 20% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Swivel Seat Exports

Exports in Asia

In 2022, overseas shipments of swivel seats with variable height adjustments decreased by -84.7% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 61% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then shrank significantly in the following year.

In value terms, swivel seat exports reduced to $X in 2022. In general, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 44%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

China was the main exporting country with an export of around X units, which reached 58% of total exports. Vietnam (X units) held the second position in the ranking, distantly followed by Taiwan (Chinese) (X units). All these countries together held approx. 34% share of total exports. The following exporters - Malaysia (X units) and South Korea (X units) - together made up 5.2% 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, with a CAGR of +58.4% from 2012-2022. By contrast, Malaysia (-1.7%) illustrated a downward trend over the same period. While the share of Vietnam (+21 p.p.), Taiwan (Chinese) (+13 p.p.), Malaysia (+2 p.p.) and South Korea (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-39.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest swivel seat supplier in Asia, comprising 89% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.5% share of total exports. It was followed by Vietnam, with a 3% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +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

In 2022, the export price in Asia amounted to $X per unit, growing by 488% against the previous year. Overall, 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

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 -13.5% to X units. In general, imports, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2019 when imports increased by 41%. Over the period under review, imports attained the peak figure at X units in 2021, and then declined in the following year.

In value terms, swivel seat imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 31%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Japan (X units) and South Korea (X units) were the main importers of swivel seats with variable height adjustments in 2022, resulting at near 23% and 18% of total imports, respectively. Thailand (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (5.9%), the Philippines (5.1%) and Israel (4.7%). Vietnam (X units), Singapore (X units), Malaysia (X units), Taiwan (Chinese) (X units), Indonesia (X units), India (X units) and Hong Kong SAR (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, with a combined 48% share of total imports. Thailand, Vietnam, Indonesia, Israel, India, Singapore, the Philippines, Taiwan (Chinese), Hong Kong SAR and Malaysia lagged somewhat behind, together accounting for a further 37%.

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

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, growing by 2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2017 when the import price increased by 16% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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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