Malaysia: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Malaysia

In 2021, the Malaysian bed-convertible seat market increased by 1.6% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, recorded a perceptible decline. Bed-convertible seat consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Bed-Convertible Seat Production in Malaysia

In value terms, bed-convertible seat production contracted modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Bed-Convertible Seat Exports

Exports from Malaysia

In 2021, overseas shipments of seats convertible into beds decreased by -44.4% to X units, falling for the third year in a row after four years of growth. In general, exports continue to indicate a deep slump. The growth pace was the most rapid in 2015 when exports increased by 61% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, bed-convertible seat exports fell dramatically to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of 33%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for bed-convertible seat exports from Malaysia, with a 31% share of total exports. Moreover, bed-convertible seat exports to the UK exceeded the volume sent to the second major destination, Moldova (X units), threefold. Sri Lanka (X units) ranked third in terms of total exports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+43.5% per year) and Sri Lanka (+11.2% per year).

In value terms, the UK ($X) remains the key foreign market for seats convertible into beds exports from Malaysia, comprising 44% of total exports. The second position in the ranking was taken by Japan ($X), with a 7.1% share of total exports. It was followed by Saudi Arabia, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.7% per year) and Saudi Arabia (+9.6% per year).

Export Prices by Country

The average bed-convertible seat export price stood at $X per unit in 2021, with a decrease of -8.8% against the previous year. Overall, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 37% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per unit), while the average price for exports to Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Bed-Convertible Seat Imports

Imports into Malaysia

After two years of decline, supplies from abroad of seats convertible into beds increased by 1% to X units in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 50%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, bed-convertible seat imports surged to $X in 2021. Over the period under review, imports showed a buoyant increase. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of bed-convertible seat to Malaysia, with a 89% share of total imports. Moreover, bed-convertible seat imports from China exceeded the figures recorded by the second-largest supplier, Australia (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+18.9% per year) and Vietnam (+48.5% per year).

In value terms, China ($X) constituted the largest supplier of seats convertible into beds to Malaysia, comprising 84% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 3.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+40.9% per year) and Australia (+19.8% per year).

Import Prices by Country

The average bed-convertible seat import price stood at $X per unit in 2021, rising by 42% against the previous year. Over the period under review, the import price showed prominent growth. The most prominent rate of growth was recorded in 2014 when the average import price increased by 42%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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