Australia: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Australia

For the fourth consecutive year, the Australian inflator system airbag market recorded decline in sales value, which decreased by -27.4% to $X in 2022. Over the period under review, consumption continues to indicate a sharp setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Inflator System Airbag Exports

Exports from Australia

In 2022, overseas shipments of airbags with inflator system and parts thereof increased by 15% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports saw a mild increase. The growth pace was the most rapid in 2016 when exports increased by 544% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, inflator system airbag exports expanded significantly to $X in 2022. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 607% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for inflator system airbag exports from Australia, with a 52% share of total exports. Moreover, inflator system airbag exports to Singapore exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. Thailand (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at +156.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+13.5% per year) and Thailand (-18.7% per year).

In value terms, Singapore ($X) remains the key foreign market for airbags with inflator system and parts thereof exports from Australia, comprising 52% of total exports. The second position in the ranking was held by New Zealand ($X), with a 16% share of total exports. It was followed by Thailand, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore amounted to +154.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+12.4% per year) and Thailand (-14.8% per year).

Export Prices by Country

The average inflator system airbag export price stood at $X per ton in 2022, reducing by -4.4% against the previous year. Overall, the export price, however, saw a measured expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 91%. The export price peaked at $X per ton in 2021, and then declined modestly in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Singapore ($X per ton) and New Zealand ($X per ton), while the average price for exports to Thailand ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+13.9%), while the prices for the other major destinations experienced mixed trend patterns.

Inflator System Airbag Imports

Imports into Australia

In 2022, supplies from abroad of airbags with inflator system and parts thereof decreased by -9.7% to X tons, falling for the fourth year in a row after four years of growth. In general, imports saw a dramatic slump. The most prominent rate of growth was recorded in 2018 with an increase of 48%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, inflator system airbag imports contracted to $X in 2022. Over the period under review, imports recorded a sharp decrease. The growth pace was the most rapid in 2017 with an increase of 85% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), Thailand (X tons) and France (X tons) were the main suppliers of inflator system airbag imports to Australia, with a combined 50% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +33.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Thailand ($X) and France ($X) were the largest inflator system airbag suppliers to Australia, with a combined 50% share of total imports.

France, with a CAGR of +31.9%, recorded the highest growth rate of the value of imports, in terms of 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 2022, the average inflator system airbag import price amounted to $X per ton, shrinking by -3.2% against the previous year. In general, the import price saw a mild decline. The growth pace was the most rapid in 2017 when the average import price increased by 41%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and Mexico ($X per ton), while the price for South Africa ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :