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

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

The Chinese market for wiring sets used in vehicles, aircraft or ships rose to $X in 2021, growing by 3.2% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

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

In value terms, production of wiring sets used in vehicles, aircraft or ships expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 36% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production of growth failed to regain momentum.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from China

In 2021, overseas shipments of wiring sets used in vehicles, aircraft or ships were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, recorded a pronounced reduction. The growth pace was the most rapid in 2017 with an increase of 9.4%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of wiring sets used in vehicles, aircraft or ships skyrocketed to $X in 2021. Over the period under review, exports, however, showed a perceptible shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for exports of wiring sets used in vehicles, aircraft or ships from China, with a 66% share of total exports. Moreover, exports of wiring sets used in vehicles, aircraft or ships to South Korea exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-11.4% per year) and the United States (-11.7% per year).

In value terms, South Korea ($X) remains the key foreign market for wiring sets used in vehicles, aircraft or ships exports from China, comprising 51% of total exports. The second position in the ranking was taken by Japan ($X), with a 24% share of total exports. It was followed by the United States, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to South Korea amounted to +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-7.9% per year) and the United States (-8.7% per year).

Export Prices by Country

The average export price for wiring sets used in vehicles, aircraft or ships stood at $X per ton in 2021, increasing by 9.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2016 an increase of 11%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into China

Imports of wiring sets used in vehicles, aircraft or ships into China surged to X tons in 2021, with an increase of 39% compared with 2020 figures. In general, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of wiring sets used in vehicles, aircraft or ships skyrocketed to $X in 2021. Overall, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of wiring sets used in vehicles, aircraft or ships to China, accounting for a 32% share of total imports. Moreover, imports of wiring sets used in vehicles, aircraft or ships from Vietnam exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam stood at +50.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-4.5% per year) and the Philippines (+22.2% per year).

In value terms, Vietnam ($X), Slovakia ($X) and Mexico ($X) constituted the largest wiring sets used in vehicles, aircraft or ships suppliers to China, with a combined 34% share of total imports. These countries were followed by Germany, the Philippines, Japan, Moldova, South Korea, Romania, the Czech Republic, Hungary, Indonesia and the United Arab Emirates, which together accounted for a further 48%.

Moldova, with a CAGR of +226.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, picking up by 1.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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