Southern Asia: Special Vehicle Body Market 2024

Special Vehicle Body Market Size in Southern Asia

In 2022, the South Asian special vehicle body market decreased by X% to $X, falling for the fourth consecutive year after seven years of growth. The total consumption indicated a tangible increase 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, consumption decreased by X% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Special Vehicle Body Production in Southern Asia

In value terms, special vehicle body production shrank to $X in 2022 estimated in export price. The total production indicated a noticeable increase 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. The level of production peaked at $X in 2018; afterwards, it flattened through to 2022.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Special Vehicle Body Exports

Exports in Southern Asia

In 2022, approx. X units of bodies for special purpose motor vehicles were exported in Southern Asia; growing by X% compared with the previous year. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, special vehicle body exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X units), together reaching X% of total export.

India was also the fastest-growing in terms of the bodies for special purpose motor vehicles exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest special vehicle body supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at X%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a sharp decline. The pace of growth was the most pronounced in 2018 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Special Vehicle Body Imports

Imports in Southern Asia

In 2022, purchases abroad of bodies for special purpose motor vehicles increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, imports saw a notable increase. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, special vehicle body imports soared to $X in 2022. In general, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

India was the main importer of bodies for special purpose motor vehicles in Southern Asia, with the volume of imports resulting at X units, which was near X% of total imports in 2022. It was distantly followed by Bangladesh (X units), mixing up a X% share of total imports. Sri Lanka (X units) and Nepal (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to special vehicle body imports into India stood at X%. At the same time, Nepal (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Bangladesh and Nepal increased by X, X and X percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported bodies for special purpose motor vehicles in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Nepal, with a X% share.

In India, special vehicle body imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Nepal (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, jumping by X% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price 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, special vehicle body import price increased by X% against 2019 indices. As a result, import price reached 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 2022, amid the top importers, the country with the highest price was Nepal ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :