Asia-Pacific: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Asia-Pacific

The Asia-Pacific market for electrical lighting or visual signaling equipment for motor vehicles and cycles was estimated at $X in 2022, rising by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Asia-Pacific

In value terms, lighting equipment for motor vehicles production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports in Asia-Pacific

In 2022, approx. X units of electrical lighting or visual signaling equipment for motor vehicles and cycles were exported in Asia-Pacific; with a decrease of X% compared with the previous year. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2021, and then declined in the following year.

In value terms, lighting equipment for motor vehicles exports expanded modestly to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China was the key exporter of electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia-Pacific, with the volume of exports resulting at X units, which was approx. X% of total exports in 2022. It was distantly followed by South Korea (X units), Japan (X units) and Taiwan (Chinese) (X units), together committing a X% share of total exports. The following exporters - India (X units) and Thailand (X units) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to lighting equipment for motor vehicles exports from China stood at X%. At the same time, South Korea (X%), Japan (X%), India (X%) and Thailand (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. South Korea (X p.p.) and Japan (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and China saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Japan, Thailand and India lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while South Korea ($X per unit) was amongst the lowest.

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

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports in Asia-Pacific

Lighting equipment for motor vehicles imports reduced to X units in 2022, falling by X% on the previous year's figure. In general, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then dropped modestly in the following year.

In value terms, lighting equipment for motor vehicles imports contracted to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

India was the major importer of electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia-Pacific, with the volume of imports recording X units, which was approx. X% of total imports in 2022. China (X units) ranks second in terms of the total imports with a X% share, followed by Thailand (X%) and Malaysia (X%). Japan (X units), Bangladesh (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units), South Korea (X units) and Australia (X units) followed a long way behind the leaders.

India was also the fastest-growing in terms of the electrical lighting or visual signaling equipment for motor vehicles and cycles imports, with a CAGR of X% from 2012 to 2022. At the same time, Bangladesh (X%), Malaysia (X%), Taiwan (Chinese) (X%), China (X%), South Korea (X%) and Thailand (X%) displayed positive paces of growth. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Australia (X%) and Japan (X%) illustrated a downward trend over the same period. India (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, Thailand, Australia, China and Japan saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported electrical lighting or visual signaling equipment for motor vehicles and cycles in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In China, lighting equipment for motor vehicles imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, waning by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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