South-Eastern Asia: Vehicle Seat Market 2024

Vehicle Seat Market Size in South-Eastern Asia

The Southeast Asian vehicle seat market dropped modestly to $X in 2022, approximately reflecting the previous year. In general, consumption, however, enjoyed strong growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Vehicle Seat Production in South-Eastern Asia

In value terms, vehicle seat production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 94% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Vehicle Seat Exports

Exports in South-Eastern Asia

In 2022, vehicle seat exports in South-Eastern Asia skyrocketed to X units, jumping by 27% compared with the previous year. In general, exports, however, recorded a mild contraction. The pace of growth was the most pronounced in 2014 with an increase of 65% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, vehicle seat exports rose to $X in 2022. Total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 55% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand dominates exports structure, reaching X units, which was approx. 76% of total exports in 2022. Malaysia (X units) took the second position in the ranking, followed by the Philippines (X units). All these countries together held near 17% share of total exports. Vietnam (X units) and Myanmar (X units) followed a long way behind the leaders.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of seats for motor vehicles. At the same time, Myanmar (+172.9%), Vietnam (+10.7%) and Malaysia (+4.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +172.9% from 2012-2022. By contrast, the Philippines (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Malaysia, Vietnam and Myanmar increased by +5.9, +3.9, +2.3 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest vehicle seat supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by the Philippines, with an 8.5% share.

In Thailand, vehicle seat exports expanded at an average annual rate of +6.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+0.9% per year) and the Philippines (-7.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, dropping by -17.8% against the previous year. Over the period under review, the export price, however, recorded a perceptible increase. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+6.5%), while the other leaders experienced more modest paces of growth.

Vehicle Seat Imports

Imports in South-Eastern Asia

In 2022, the amount of seats for motor vehicles imported in South-Eastern Asia reduced slightly to X units, remaining constant against 2021 figures. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 34%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, vehicle seat imports soared to $X in 2022. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 45%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Vietnam (X units), Thailand (X units) and Indonesia (X units) represented the largest importer of seats for motor vehicles in South-Eastern Asia, mixing up 81% of total import. It was distantly followed by Malaysia (X units), achieving a 12% share of total imports. The Philippines (X units) and Singapore (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +19.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vehicle seat importing markets in South-Eastern Asia were Vietnam ($X), Indonesia ($X) and Thailand ($X), together comprising 87% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +21.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, growing by 32% against the previous year. In general, the import price saw a resilient expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :