EU: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in the EU

The EU safety seat belt market declined to $X in 2022, waning by -5.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Safety Seat Belt Production in the EU

In value terms, safety seat belt production fell modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Safety Seat Belt Exports

Exports in the EU

In 2022, shipments abroad of safety seat belts increased by 4.2% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when exports increased by 19% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, safety seat belt exports shrank to $X in 2022. The total export value increased at an average annual rate of +1.8% 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% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X units) and Poland (X units) represented roughly 58% of total exports in 2022. The Czech Republic (X units) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Germany (12%) and Hungary (8.9%). The following exporters - France (X units) and Estonia (X units) - each amounted to a 3.7% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +10.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest safety seat belt supplying countries in the European Union were Romania ($X), Poland ($X) and Germany ($X), with a combined 62% share of total exports. Hungary, the Czech Republic, Estonia and France lagged somewhat behind, together comprising a further 34%.

Hungary, with a CAGR of +8.1%, 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

The export price in the European Union stood at $X per unit in 2022, dropping by -9.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 8.5% against the previous year. The level of export peaked at $X per unit in 2021, and then shrank in the following year.

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 ($X per unit), while France ($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 more modest paces of growth.

Safety Seat Belt Imports

Imports in the EU

In 2022, overseas purchases of safety seat belts were finally on the rise to reach X units after three years of decline. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 15%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, safety seat belt imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.4% 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 2018 when imports increased by 14% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) represented the major importer of safety seat belts, generating 38% of total imports. Spain (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (10%), Poland (5.1%) and Slovakia (4.7%). Hungary (X units), Romania (X units), Italy (X units), France (X units), Sweden (X units), Portugal (X units) and Belgium (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to safety seat belt imports into Germany stood at -2.3%. At the same time, Portugal (+29.9%), Sweden (+15.3%), Poland (+14.3%), Hungary (+13.8%), Romania (+10.2%) and Spain (+9.7%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the European Union, with a CAGR of +29.9% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Belgium (-1.8%), Slovakia (-2.4%), the Czech Republic (-9.1%) and France (-10.4%) illustrated a downward trend over the same period. Spain (+11 p.p.), Poland (+3.9 p.p.), Hungary (+3.1 p.p.), Romania (+2.7 p.p.), Portugal (+2 p.p.) and Sweden (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while France, Germany and the Czech Republic saw its share reduced by -5.2%, -6.3% and -13.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest safety seat belt importing markets in the European Union were Germany ($X), Spain ($X) and the Czech Republic ($X), together comprising 71% of total imports. Hungary, Slovakia, Poland, France, Romania, Italy, Sweden, Belgium and Portugal lagged somewhat behind, together accounting for a further 25%.

Portugal, with a CAGR of +25.5%, saw 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 the European Union amounted to $X per unit, shrinking by -10.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Spain ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :