Asia-Pacific: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in Asia-Pacific

The Asia-Pacific safety seat belt market shrank slightly to $X in 2023, waning by X% against the previous year. Over the period under review, consumption, however, continues to indicate a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Safety Seat Belt Production in Asia-Pacific

In value terms, safety seat belt production shrank to $X in 2023 estimated in export price. Overall, production, however, showed buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Safety Seat Belt Exports

Exports in Asia-Pacific

In 2023, shipments abroad of safety seat belts increased by X% to X units, rising for the third year in a row after three years of decline. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, safety seat belt exports stood at $X in 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

Exports by Country

China (X units) and Thailand (X units) represented roughly X% of total exports in 2023. South Korea (X units) held the next position in the ranking, distantly followed by India (X units). All these countries together held near X% share of total exports. Japan (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest safety seat belt supplying countries in Asia-Pacific were China ($X), Thailand ($X) and South Korea ($X), with a combined X% share of total exports. India, Japan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 2023, declining by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of export peaked at $X per unit in 2022, and then fell modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2023, 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.

Safety Seat Belt Imports

Imports in Asia-Pacific

In 2023, the amount of safety seat belts imported in Asia-Pacific amounted to X units, picking up by X% compared with the previous year's figure. Total imports indicated a moderate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, safety seat belt imports dropped slightly to $X in 2023. Total imports indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Japan (X units) represented the key importer of safety seat belts, committing X% of total imports. South Korea (X units) took the second position in the ranking, followed by China (X units), India (X units) and Australia (X units). All these countries together held near X% share of total imports. The following importers - Vietnam (X units) and Indonesia (X units) - each accounted for a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to safety seat belt imports into Japan stood at X%. At the same time, Vietnam (X%), South Korea (X%), India (X%), China (X%) and Australia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.), India (X p.p.), China (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Australia (X p.p.), Indonesia (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported safety seat belts in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Japan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2023, which is down by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while Australia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform