Japan: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Japan

In 2021, after two years of decline, there was significant growth in the Japanese bed-convertible seat market, when its value increased by 74% to $X. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Bed-Convertible Seat Exports

Exports from Japan

In 2021, overseas shipments of seats convertible into beds decreased by -50.2% to X units, falling for the fourth consecutive year after two years of growth. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 310% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, bed-convertible seat exports contracted sharply to $X in 2021. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 311%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for bed-convertible seat exports from Japan, with a 44% share of total exports. Moreover, bed-convertible seat exports to China exceeded the volume sent to the second major destination, the Philippines (X units), threefold. The third position in this ranking was held by South Korea (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+24.8% per year) and South Korea (+12.7% per year).

In value terms, China ($X) emerged as the key foreign market for seats convertible into beds exports from Japan, comprising 44% of total exports. The second position in the ranking was held by the Philippines ($X), with a 14% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+40.7% per year) and South Korea (+21.6% per year).

Export Prices by Country

In 2021, the average bed-convertible seat export price amounted to $X per unit, with an increase of 2.6% against the previous year. Over the period under review, the export price saw a prominent expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 75% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Italy ($X per unit) and the Netherlands ($X per unit), while the average price for exports to the Philippines ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+58.5%), while the prices for the other major destinations experienced more modest paces of growth.

Bed-Convertible Seat Imports

Imports into Japan

After two years of decline, supplies from abroad of seats convertible into beds increased by 90% to X units in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 97% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, bed-convertible seat imports surged to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 68%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main bed-convertible seat supplier to Japan, accounting for a approx. 97% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +2.7%.

In value terms, China ($X) constituted the largest supplier of seats convertible into beds to Japan.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.9%.

Import Prices by Country

The average bed-convertible seat import price stood at $X per unit in 2021, reducing by -12.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2016 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, 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 +3.1% per year.

Source: IndexBox Platform

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