Eastern Asia: Metal Vehicle Lock Market 2025

Metal Vehicle Lock Market Size in Eastern Asia

The East Asian metal vehicle lock market was finally on the rise to reach $X in 2021, after four years of decline. Over the period under review, consumption, however, saw a mild decline. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Metal Vehicle Lock Production in Eastern Asia

In value terms, metal vehicle lock production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Metal Vehicle Lock Exports

Exports in Eastern Asia

In 2021, overseas shipments of base metal motor vehicle locks were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, metal vehicle lock exports soared to $X in 2021. In general, exports, however, saw a perceptible downturn. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) was the main exporter of base metal motor vehicle locks, constituting 81% of total exports. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together committing a 15% share of total exports. Japan (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to metal vehicle lock exports from China stood at +1.2%. At the same time, Taiwan (Chinese) (+7.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +7.0% from 2012-2021. By contrast, South Korea (-5.7%) and Japan (-11.0%) illustrated a downward trend over the same period. China (+11 p.p.) and Taiwan (Chinese) (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -5.8% and -6.6% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest metal vehicle lock supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total exports. It was followed by Japan, with an 8.1% share.

In China, metal vehicle lock exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-4.0% per year) and Japan (-12.3% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, increasing by 3.2% against the previous year. Over the period under review, the export price, however, showed a mild downturn. The most prominent rate of growth was recorded in 2016 when the export price increased by 19%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.7%), while the other leaders experienced a decline in the export price figures.

Metal Vehicle Lock Imports

Imports in Eastern Asia

In 2021, after four years of decline, there was significant growth in supplies from abroad of base metal motor vehicle locks, when their volume increased by 12% to X tons. Over the period under review, imports, however, saw a mild descent. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, metal vehicle lock imports skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) was the major importer of base metal motor vehicle locks, mixing up 56% of total imports. China (X tons) took a 31% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (7.4%) and Taiwan (Chinese) (5%).

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +2.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest metal vehicle lock importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 95% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +3.6%, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 6.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 7.6%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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