Belgium: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in Belgium

The Belgian safety seat belt market rose to $X in 2022, picking up by 3.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a mild decrease. Safety seat belt consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Safety Seat Belt Exports

Exports from Belgium

In 2022, shipments abroad of safety seat belts decreased by -8.3% to X units, falling for the third year in a row after three years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 198%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, safety seat belt exports fell to $X in 2022. In general, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 146%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for safety seat belt exports from Belgium, with a 36% share of total exports. Moreover, safety seat belt exports to China exceeded the volume sent to the second major destination, the United States (X units), twofold. Malaysia (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +78.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.4% per year) and Malaysia (+103.0% per year).

In value terms, China ($X) remains the key foreign market for safety seat belts exports from Belgium, comprising 25% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by the United States, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +84.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.3% per year) and the United States (+7.8% per year).

Export Prices by Country

The average safety seat belt export price stood at $X per unit in 2022, shrinking by -4.8% against the previous year. In general, the export price, however, recorded a strong increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 50%. Over the period under review, the average export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Seat Belt Imports

Imports into Belgium

In 2022, overseas purchases of safety seat belts increased by 15% to X units for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, continue to indicate a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, safety seat belt imports reduced to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 41%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Hungary (X units), Romania (X units) and Poland (X units) were the main suppliers of safety seat belt imports to Belgium, with a combined 87% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +41.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest safety seat belt suppliers to Belgium were Hungary ($X), Poland ($X) and Romania ($X), together comprising 82% of total imports.

In terms of the main suppliers, Hungary, with a CAGR of +44.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average safety seat belt import price amounted to $X per unit, shrinking by -19.9% against the previous year. Over the period under review, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 an increase of 27% against the previous year. The import price peaked at $X per unit in 2021, and then fell notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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