Report Update Nov 1, 2024

Republic of Korea - Seats Convertible Into Beds - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Republic of Korea

After three years of growth, the South Korean bed-convertible seat market decreased by -39.5% to $X in 2021. Overall, consumption, however, saw a noticeable expansion. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

Bed-Convertible Seat Exports

Exports from Republic of Korea

Bed-convertible seat exports from South Korea skyrocketed to X units in 2021, with an increase of 26% compared with 2020 figures. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 244% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, bed-convertible seat exports declined slightly to $X in 2021. Overall, exports saw a strong increase. The growth pace was the most rapid in 2018 with an increase of 193% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X units), Taiwan (Chinese) (X units) and the United Arab Emirates (X units) were the main destinations of bed-convertible seat exports from South Korea, with a combined 54% share of total exports. These countries were followed by Russia, Indonesia, Japan, Canada and China, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +235.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bed-convertible seat exported from South Korea were the United Arab Emirates ($X), Taiwan (Chinese) ($X) and Russia ($X), with a combined 55% share of total exports. These countries were followed by Hong Kong SAR, Indonesia, Japan, Canada and China, which together accounted for a further 32%.

Indonesia, with a CAGR of +114.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bed-convertible seat export price amounted to $X per unit, reducing by -23.5% against the previous year. In general, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 61% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.5%), while the prices for the other major destinations experienced a decline.

Bed-Convertible Seat Imports

Imports into Republic of Korea

In 2021, supplies from abroad of seats convertible into beds decreased by -36% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 284% against the previous year. As a result, imports attained the peak of X units, and then contracted significantly in the following year.

In value terms, bed-convertible seat imports fell significantly to $X in 2021. In general, imports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 159% against the previous year. As a result, imports reached the peak of $X, and then shrank remarkably in the following year.

Imports by Country

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

From 2012 to 2021, the average annual growth rate of volume from China totaled +5.1%.

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

From 2012 to 2021, the average annual growth rate of value from China stood at +2.1%.

Import Prices by Country

The average bed-convertible seat import price stood at $X per unit in 2021, which is down by -8.3% against the previous year. Over the period under review, the import price showed a pronounced descent. The pace of growth was the most pronounced in 2016 an increase of 45%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 -2.9% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for seats convertible into beds in the world?

China remains the largest bed-convertible seat consuming country worldwide, accounting for 28% of total volume. Moreover, bed-convertible seat consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. Russia ranked third in terms of total consumption with a 6.2% share.

What are the largest producers of seats convertible into beds in the world?

China constituted the country with the largest volume of bed-convertible seat production, comprising approx. 34% of total volume. Moreover, bed-convertible seat production in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. Poland ranked third in terms of total production with a 7.7% share.

What are the leading suppliers of seats convertible into beds to Republic of Korea?

In value terms, China constituted the largest supplier of bed-convertible seat to South Korea, comprising 84% of total imports. The second position in the ranking was occupied by Vietnam, with a 15% share of total imports.

What are the leading importers of seats convertible into beds from Republic of Korea?

In value terms, Russia, Hong Kong SAR and the United States were the largest markets for bed-convertible seat exported from South Korea worldwide, with a combined 60% share of total exports. These countries were followed by Indonesia, China, Canada and the Philippines, which together accounted for a further 30%.

What is the average export price for seats convertible into beds in Republic of Korea?

In 2020, the average bed-convertible seat export price amounted to $90 per unit, reducing by -24.7% against the previous year.

What is the average import price for seats convertible into beds in Republic of Korea?

The average bed-convertible seat import price stood at $85 per unit in 2020, which is down by -43.1% against the previous year.

This report provides an in-depth analysis of the bed-convertible seat market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 31001210 - Seats convertible into beds (excluding garden seats or camping equipment)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023