Eastern Asia: Seat Market 2024

Seat Market Size in Eastern Asia

The East Asian seat market reached $X in 2023, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2023 and is likely to see steady growth in years to come.

Seat Production in Eastern Asia

In value terms, seat production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Seat Exports

Exports in Eastern Asia

In 2023, shipments abroad of seats decreased by X% to X units, falling for the second consecutive year after four years of growth. In general, exports, however, saw modest growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, seat exports contracted to $X in 2023. Total exports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, China (X units) was the main exporter of seats in Eastern Asia, mixing up X% of total export.

China was also the fastest-growing in terms of the seats exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest seat supplier in Eastern Asia.

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2023, shrinking by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2023, 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 China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Seat Imports

Imports in Eastern Asia

In 2023, overseas purchases of seats decreased by X% to X units, falling for the second consecutive year after six years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, seat imports declined to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X units) and South Korea (X units) dominates imports structure, together achieving X% of total imports. It was distantly followed by Taiwan (Chinese) (X units), achieving a X% share of total imports. Hong Kong SAR (X units) and China (X units) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X), South Korea ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the import price in Eastern Asia amounted to $X per unit, dropping by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2019 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform