Eastern Asia: Automotive Lighting Market 2024

Automotive Lighting Market Size in Eastern Asia

In 2021, the East Asian automotive lighting market decreased by -18.3% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then fell markedly in the following year.

Automotive Lighting Production in Eastern Asia

In value terms, automotive lighting production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Automotive Lighting Exports

Exports in Eastern Asia

In 2021, automotive lighting exports in Eastern Asia surged to X units, growing by 46% against the previous year. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% 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 +60.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, automotive lighting exports skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of automotive lighting in Eastern Asia, with the volume of exports finishing at X units, which was approx. 69% of total exports in 2021. South Korea (X units) held the second position in the ranking, followed by Taiwan (Chinese) (X units) and Japan (X units). All these countries together held near 30% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to automotive lighting exports from China stood at +6.5%. At the same time, South Korea (+22.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +22.9% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-1.1%) illustrated a downward trend over the same period. While the share of South Korea (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-4.6 p.p.) and Taiwan (Chinese) (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest automotive lighting supplier in Eastern Asia, comprising 47% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total exports. It was followed by South Korea, with a 20% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +8.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.1% per year) and South Korea (+15.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, waning by -7.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2017 when the export price increased by 17%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.3%), while the other leaders experienced more modest paces of growth.

Automotive Lighting Imports

Imports in Eastern Asia

Automotive lighting imports surged to X units in 2021, rising by 24% on 2020 figures. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, automotive lighting imports skyrocketed to $X in 2021. Over the period under review, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of about X units, which resulted at 56% of total imports. Japan (X units) took a 27% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (7.4%) and Taiwan (Chinese) (6.3%). Hong Kong SAR (X units) took a minor share of total imports.

Imports into China increased at an average annual rate of +5.5% from 2012 to 2021. At the same time, Taiwan (Chinese) (+8.5%), Japan (+1.6%) and South Korea (+1.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.5% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and Taiwan (Chinese) increased by +7.4 and +2.1 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported automotive lighting in Eastern Asia, comprising 66% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by South Korea, with a 10% share.

In China, automotive lighting imports increased at an average annual rate of +12.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+4.3% per year) and South Korea (+13.2% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, reducing by -1.6% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, automotive lighting import price decreased by -2.0% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 31%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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