Asia: Invalid Carriage Market 2023

Invalid Carriage Market Size in Asia

The Asian invalid carriage market dropped modestly to $X in 2021, which is down by -2.5% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.8% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Invalid Carriage Production in Asia

In value terms, invalid carriage production expanded slightly to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.2% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 45%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Invalid Carriage Exports

Exports in Asia

Invalid carriage exports soared to X units in 2021, jumping by 26% compared with the previous year. Over the period under review, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 579% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, invalid carriage exports skyrocketed to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, reaching X units, which was approx. 96% of total exports in 2021. India (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, India (+12.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +12.3% from 2012-2021. From 2012 to 2021, the share of China increased by +3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest invalid carriage supplier in Asia, comprising 93% of total exports. The second position in the ranking was taken by India ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.7%.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, rising by 12% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 209% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was India ($X per unit), while China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.2%).

Invalid Carriage Imports

Imports in Asia

In 2021, the amount of invalid carriages not mechanically propelled imported in Asia surged to X units, rising by 21% compared with 2020 figures. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.8% against 2019 indices. Over the period under review, imports attained the peak figure at X units in 2019; afterwards, it flattened through to 2021.

In value terms, invalid carriage imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X units), distantly followed by India (X units), Malaysia (X units), Indonesia (X units) and Saudi Arabia (X units) were the largest importers of invalid carriages not mechanically propelled, together committing 55% of total imports. The following importers - the Philippines (X units), Vietnam (X units), South Korea (X units), Pakistan (X units), Taiwan (Chinese) (X units), Thailand (X units), Turkey (X units) and Iraq (X units) - together made up 28% of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +17.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported invalid carriages not mechanically propelled in Asia, comprising 42% of total imports. The second position in the ranking was taken by India ($X), with a 5.5% share of total imports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value in Japan amounted to +2.0%. In the other countries, the average annual rates were as follows: India (+17.8% per year) and South Korea (+6.8% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, rising by 2.9% against the previous year. Over the period under review, the import price, however, saw a mild decline. The pace of growth appeared the most rapid in 2020 an increase of 6.8%. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per unit), while Indonesia ($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 (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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