Hong Kong SAR, China: Safety Seat Belt Market 2025

Safety Seat Belt Market Size in Hong Kong SAR, China

The Hong Kong safety seat belt market reached $X in 2022, increasing by 11% against the previous year. Overall, consumption, however, showed a abrupt contraction. Safety seat belt consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Safety Seat Belt Production in Hong Kong SAR, China

In value terms, safety seat belt production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 16% against the previous year. Safety seat belt production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Safety Seat Belt Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of safety seat belts increased by 59% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports enjoyed notable growth. The growth pace was the most rapid in 2014 with an increase of 3,212% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, safety seat belt exports surged to $X in 2022. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 2,042% 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

Japan (X units) was the main destination for safety seat belt exports from Hong Kong SAR, with a 70% share of total exports. Moreover, safety seat belt exports to Japan exceeded the volume sent to the second major destination, China (X units), fourfold. The third position in this ranking was held by Thailand (X units), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +64.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-12.5% per year) and Thailand (-19.2% per year).

In value terms, Japan ($X) remains the key foreign market for safety seat belts exports from Hong Kong SAR, comprising 81% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 5.9% share of total exports. It was followed by China, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +65.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.8% per year) and China (-16.5% per year).

Export Prices by Country

In 2022, the average safety seat belt export price amounted to $X per unit, increasing by 22% against the previous year. In general, the export price posted resilient growth. The pace of growth was the most pronounced in 2020 an increase of 76%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to the United States ($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 Thailand (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Seat Belt Imports

Imports into Hong Kong SAR, China

Safety seat belt imports into Hong Kong SAR skyrocketed to X units in 2022, surging by 52% on 2021. Overall, imports, however, showed a deep slump. The pace of growth was the most pronounced in 2013 with an increase of 74% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, safety seat belt imports declined modestly to $X in 2022. In general, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 43%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of safety seat belt to Hong Kong SAR, with a 54% share of total imports. Moreover, safety seat belt imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. Singapore (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.6% per year) and Singapore (+9.7% per year).

In value terms, Germany ($X), China ($X) and Singapore ($X) were the largest safety seat belt suppliers to Hong Kong SAR, with a combined 56% share of total imports. Malaysia, the United Arab Emirates, Kuwait, Romania, the United States and Turkey lagged somewhat behind, together comprising a further 38%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +190.1%, recorded 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 average safety seat belt import price stood at $X per unit in 2022, with a decrease of -34.4% against the previous year. Over the period under review, the import price, however, continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by 74%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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