Southern Asia: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Southern Asia

The South Asian bed-convertible seat market expanded notably to $X in 2021, increasing by 6.2% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Bed-Convertible Seat Production in Southern Asia

In value terms, bed-convertible seat production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Bed-Convertible Seat Exports

Exports in Southern Asia

In 2021, overseas shipments of seats convertible into beds increased by 95% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 968%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, bed-convertible seat exports soared to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 509%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of seats convertible into beds, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the seats convertible into beds exports, with a CAGR of +76.4% from 2012 to 2021. From 2012 to 2021, the share of India increased by +3.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest bed-convertible seat supplier in Southern Asia.

In India, bed-convertible seat exports expanded at an average annual rate of +34.4% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, growing by 14% against the previous year. Overall, the export price, however, recorded a dramatic slump. The pace of growth was the most pronounced in 2014 an increase of 132% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -23.8% per year.

Bed-Convertible Seat Imports

Imports in Southern Asia

In 2021, bed-convertible seat imports in Southern Asia skyrocketed to X units, jumping by 315% on the previous year's figure. Over the period under review, imports continue to indicate a significant 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 posted strong growth. The pace of growth was the most pronounced in 2014 when imports increased by 278% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India dominates imports structure, accounting for X units, which was near 82% of total imports in 2021. Pakistan (X units) held the second position in the ranking, followed by Maldives (X units). All these countries together held near 14% share of total imports. Sri Lanka (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +28.1% from 2012 to 2021. At the same time, Maldives (+50.2%), Pakistan (+36.7%) and Sri Lanka (+9.2%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +50.2% from 2012-2021. India (+16 p.p.), Maldives (+5.5 p.p.) and Pakistan (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka saw its share reduced by -5.2% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported seats convertible into beds in Southern Asia, comprising 65% of total imports. The second position in the ranking was held by Maldives ($X), with an 18% share of total imports. It was followed by Pakistan, with an 8.4% share.

In India, bed-convertible seat imports expanded at an average annual rate of +22.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (+44.9% per year) and Pakistan (+39.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, reducing by -37.6% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of 35%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Maldives ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :