Eastern Asia: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Eastern Asia

After two years of growth, the East Asian bed-convertible seat market decreased by -5% to $X in 2021. In general, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 5.1%. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Bed-Convertible Seat Production in Eastern Asia

In value terms, bed-convertible seat production declined modestly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 6.6% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Bed-Convertible Seat Exports

Exports in Eastern Asia

In 2021, exports of seats convertible into beds in Eastern Asia rose significantly to X units, surging by 7.7% compared with the year before. Total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.9% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 21%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, bed-convertible seat exports rose slightly to $X in 2021. The total export value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 18%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

In 2021, China (X units) represented the key exporter of seats convertible into beds in Eastern Asia, generating 100% of total export.

China was also the fastest-growing in terms of the seats convertible into beds exports, with a CAGR of +4.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest bed-convertible seat supplier in Eastern Asia.

In China, bed-convertible seat exports expanded at an average annual rate of +2.5% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, declining by -4% against the previous year. In general, the export price showed a mild descent. The growth pace was the most rapid in 2013 an increase of 5.7% 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 failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -1.9% per year.

Bed-Convertible Seat Imports

Imports in Eastern Asia

In 2021, supplies from abroad of seats convertible into beds increased by 9.5% to X units, rising for the fourth consecutive year after two years of decline. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% 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 +122.4% against 2017 indices. The pace of growth was the most pronounced in 2018 when imports increased by 79%. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, bed-convertible seat imports expanded significantly to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.7% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of 61% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Japan (X units) was the key importer of seats convertible into beds, making up 64% of total imports. It was distantly followed by South Korea (X units), creating a 29% share of total imports. Hong Kong SAR (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to bed-convertible seat imports into Japan stood at +2.9%. At the same time, Hong Kong SAR (+7.8%) and South Korea (+5.3%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.8% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of South Korea (+4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-4.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported seats convertible into beds in Eastern Asia, comprising 72% of total imports. The second position in the ranking was held by South Korea ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +6.1%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.6% per year) and Taiwan (Chinese) (-0.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, growing by 1.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2016 when the import price increased by 28%. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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