Eastern Asia: Safety Seat Belt Market 2025

Safety Seat Belt Market Size in Eastern Asia

In 2022, the East Asian safety seat belt market decreased by -20% to $X, falling for the second consecutive year after three years of growth. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 -24.0% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Safety Seat Belt Production in Eastern Asia

In value terms, safety seat belt production declined slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild increase. The growth pace was the most rapid in 2016 with an increase of 14%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Safety Seat Belt Exports

Exports in Eastern Asia

Safety seat belt exports expanded rapidly to X units in 2022, with an increase of 14% on the year before. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 21%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, safety seat belt exports soared to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China was the largest exporter of safety seat belts in Eastern Asia, with the volume of exports reaching X units, which was near 54% of total exports in 2022. South Korea (X units) took a 35% share (based on physical terms) of total exports, which put it in second place, followed by Japan (6.9%). Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +3.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest safety seat belt supplying countries in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 96% share of total exports. Taiwan (Chinese) lagged somewhat behind, accounting for a further 2.9%.

Taiwan (Chinese), with a CAGR of +5.5%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in Eastern Asia amounted to $X per unit, picking up by 3.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 9.8%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Japan ($X per unit) and Taiwan (Chinese) ($X per unit), while South Korea ($X per unit) and China ($X per unit) were amongst the lowest.

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

Safety Seat Belt Imports

Imports in Eastern Asia

In 2022, after three years of growth, there was decline in supplies from abroad of safety seat belts, when their volume decreased by -3.7% to X units. Total imports indicated temperate growth from 2012 to 2022: its volume 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 +40.5% against 2014 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 33% against the previous year. The volume of import peaked at X units in 2021, and then declined slightly in the following year.

In value terms, safety seat belt imports shrank to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 25% against the previous year. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Japan (X units) represented the largest importer of safety seat belts, committing 54% of total imports. China (X units) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (17%). Taiwan (Chinese) (X units) held a little 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, South Korea (+16.5%), China (+14.5%) and Taiwan (Chinese) (+9.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.5% from 2012-2022. While the share of China (+15 p.p.) and South Korea (+12 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-24.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest safety seat belt importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 96% of total imports. Taiwan (Chinese) lagged somewhat behind, accounting for a further 2.7%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +10.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, waning by -6.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 11%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 Taiwan (Chinese) (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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