Asia-Pacific: Safety Seat Belt Market 2025

Safety Seat Belt Market Size in Asia-Pacific

In 2022, after four years of growth, there was significant decline in the Asia-Pacific safety seat belt market, when its value decreased by -11.8% to $X. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Safety Seat Belt Production in Asia-Pacific

In value terms, safety seat belt production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the production volume increased by 10%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Safety Seat Belt Exports

Exports in Asia-Pacific

In 2022, overseas shipments of safety seat belts increased by 4.8% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 35%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, safety seat belt exports rose rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 18%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, China (X units), Thailand (X units) and South Korea (X units) was the key exporter of safety seat belts in Asia-Pacific, committing 82% of total export. It was distantly followed by India (X units), making up a 7.7% share of total exports. Japan (X units), Taiwan (Chinese) (X units) and Australia (X units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +19.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 77% of total exports. India, Japan, Australia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 20%.

In terms of the main exporting countries, India, with a CAGR of +24.2%, recorded the highest rates of growth with regard to the value of exports, 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, growing by 2.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 14%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

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 Australia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.8%), while the other leaders experienced more modest paces of growth.

Safety Seat Belt Imports

Imports in Asia-Pacific

In 2022, the amount of safety seat belts imported in Asia-Pacific totaled X units, picking up by 3.3% on the previous year's figure. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 27%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, safety seat belt imports reduced slightly to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +35.3% against 2014 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 21%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted slightly in the following year.

Imports by Country

In 2022, Japan (X units) was the largest importer of safety seat belts, making up 41% of total imports. China (X units) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (13%), India (6.3%) and Indonesia (6.2%). The following importers - Vietnam (X units) and Australia (X units) - each resulted at a 5.6% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of safety seat belts. At the same time, Vietnam (+19.6%), South Korea (+16.5%), China (+14.5%) and India (+13.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +19.6% from 2012-2022. By contrast, Indonesia (-1.1%) and Australia (-6.5%) illustrated a downward trend over the same period. While the share of China (+12 p.p.), South Korea (+9.1 p.p.), India (+3.8 p.p.) and Vietnam (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-3.4 p.p.), Australia (-4.6 p.p.) and Japan (-15.5 p.p.) displayed negative dynamics.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together accounting for 76% of total imports. India, Indonesia, Vietnam and Australia lagged somewhat behind, together accounting for a further 16%.

Vietnam, with a CAGR of +19.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, shrinking by -7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the import price increased by 9.4% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then fell in the following year.

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 China ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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