Eastern Europe: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in Eastern Europe

The East European safety seat belt market fell to $X in 2022, waning by -11.3% against the previous year. In general, consumption saw a noticeable decline. The pace of growth was the most pronounced in 2021 when the market value increased by 9.6%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Safety Seat Belt Production in Eastern Europe

In value terms, safety seat belt production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 12% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Safety Seat Belt Exports

Exports in Eastern Europe

In 2022, shipments abroad of safety seat belts increased by 8.8% to X units, rising for the second consecutive year after two years of decline. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +11.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 21%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, safety seat belt exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 17%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Romania (X units) and Poland (X units) represented the key exporters of safety seat belts in Eastern Europe, together making up 69% of total exports. It was distantly followed by the Czech Republic (X units) and Hungary (X units), together constituting a 28% share of total exports. Estonia (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +8.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest safety seat belt supplying countries in Eastern Europe were Romania ($X), Poland ($X) and Hungary ($X), together accounting for 78% of total exports.

Hungary, with a CAGR of +8.1%, 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

In 2022, the export price in Eastern Europe amounted to $X per unit, shrinking by -9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 7.9% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Hungary ($X per unit), while Estonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Safety Seat Belt Imports

Imports in Eastern Europe

Safety seat belt imports shrank slightly to X units in 2022, remaining constant against the previous year's figure. Over the period under review, imports saw a noticeable contraction. The growth pace was the most rapid in 2021 when imports increased by 12% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, safety seat belt imports contracted to $X in 2022. Overall, imports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 11%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Czech Republic represented the major importing country with an import of about X units, which resulted at 32% of total imports. Poland (X units) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Slovakia (15%), Hungary (13%), Romania (13%) and Russia (9.3%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +14.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety seat belt importing markets in Eastern Europe were the Czech Republic ($X), Hungary ($X) and Slovakia ($X), together accounting for 61% of total imports.

Hungary, with a CAGR of +14.5%, saw the highest rates of growth with regard to the value of imports, among 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 Eastern Europe amounted to $X per unit, falling by -4.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2020 an increase of 10%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the import prices failed to regain momentum.

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 Russia ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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