Asia: Market for Wiring sets used in vehicles, aircraft or ships 2023

Market Size for Wiring sets used in vehicles, aircraft or ships in Asia

The Asian market for wiring sets used in vehicles, aircraft or ships rose to $X in 2021, surging by 3.5% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.3% against 2019 indices. 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.

Production of Wiring sets used in vehicles, aircraft or ships in Asia

In value terms, production of wiring sets used in vehicles, aircraft or ships expanded modestly to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.6% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 23%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports in Asia

After three years of decline, shipments abroad of wiring sets used in vehicles, aircraft or ships increased by 8.2% to X tons in 2021. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 9.4%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of wiring sets used in vehicles, aircraft or ships soared to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Vietnam (X tons) and the Philippines (X tons) represented roughly 71% of total exports in 2021. Indonesia (X tons) held the next position in the ranking, followed by South Korea (X tons). All these countries together took approx. 14% share of total exports. Thailand (X tons) and Turkey (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +11.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest wiring sets used in vehicles, aircraft or ships supplying countries in Asia were Vietnam ($X), China ($X) and the Philippines ($X), with a combined 69% share of total exports. These countries were followed by Indonesia, South Korea, Thailand and Turkey, which together accounted for a further 20%.

South Korea, with a CAGR of +10.3%, recorded the highest growth rate of 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 stood at $X per ton in 2021, rising by 7.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while South Korea ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.1%), while the other leaders experienced more modest paces of growth.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports in Asia

In 2021, overseas purchases of wiring sets used in vehicles, aircraft or ships were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of wiring sets used in vehicles, aircraft or ships skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; 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

Japan represented the major importer of wiring sets used in vehicles, aircraft or ships in Asia, with the volume of imports recording X tons, which was near 50% of total imports in 2021. It was distantly followed by South Korea (X tons) and Turkey (X tons), together creating a 31% share of total imports. The following importers - Thailand (X tons), China (X tons), the Philippines (X tons), Indonesia (X tons) and Vietnam (X tons) - together made up 13% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +13.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported wiring sets used in vehicles, aircraft or ships in Asia, comprising 53% of total imports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total imports. It was followed by China, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at +2.2%. In the other countries, the average annual rates were as follows: South Korea (+8.3% per year) and China (+11.9% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, surging by 6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. 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 2021, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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