South-Eastern Asia: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in South-Eastern Asia

The Southeast Asian bed-convertible seat market contracted to $X in 2021, waning by -8.6% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Bed-Convertible Seat Production in South-Eastern Asia

In value terms, bed-convertible seat production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% 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 2014 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Bed-Convertible Seat Exports

Exports in South-Eastern Asia

In 2021, approx. X units of seats convertible into beds were exported in South-Eastern Asia; rising by 69% compared with 2020. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 120%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, bed-convertible seat exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 72% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Thailand was the largest exporting country with an export of around X units, which accounted for 58% of total exports. It was distantly followed by Vietnam (X units), creating a 36% share of total exports. Indonesia (X units) and Malaysia (X units) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +44.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 94% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of +30.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, with a decrease of -14.9% against the previous year. Over the period under review, the export price showed a mild reduction. The growth pace was the most rapid in 2014 an increase of 40%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Bed-Convertible Seat Imports

Imports in South-Eastern Asia

For the sixth consecutive year, South-Eastern Asia recorded growth in supplies from abroad of seats convertible into beds, which increased by 78% to X units in 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bed-convertible seat imports skyrocketed to $X in 2021. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 46% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

The Philippines (X units) and Thailand (X units) dominates imports structure, together committing 84% of total imports. Indonesia (X units) took a 5.2% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (5%). Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +49.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 68% of total imports. These countries were followed by Vietnam and Malaysia, which together accounted for a further 19%.

Vietnam, with a CAGR of +42.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, reducing by -21.2% against the previous year. Overall, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2015 when the import price increased by 26%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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