India: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in India

In 2022, the Indian inflator system airbag market decreased by -4.6% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption recorded resilient growth. Inflator system airbag consumption peaked at $X in 2021, and then contracted modestly in the following year.

Inflator System Airbag Production in India

In value terms, inflator system airbag production reached $X in 2022 estimated in export price. Over the period under review, production recorded prominent growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 263% against the previous year. Inflator system airbag production peaked at $X in 2020; afterwards, it flattened through to 2022.

Inflator System Airbag Exports

Exports from India

In 2022, shipments abroad of airbags with inflator system and parts thereof increased by 56% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 265%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, inflator system airbag exports soared to $X in 2022. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,136%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Turkey (X tons), South Korea (X tons) and Indonesia (X tons) were the main destinations of inflator system airbag exports from India, together accounting for 69% of total exports. Poland, Portugal, Romania, Slovenia and China lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +801.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Turkey ($X) and Indonesia ($X) constituted the largest markets for inflator system airbag exported from India worldwide, with a combined 75% share of total exports. Poland, Portugal, Romania, Slovenia and China lagged somewhat behind, together accounting for a further 19%.

Among the main countries of destination, Romania, with a CAGR of +704.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average inflator system airbag export price stood at $X per ton in 2022, dropping by -6.6% against the previous year. In general, the export price, however, posted strong growth. The pace of growth was the most pronounced in 2014 an increase of 239%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+29.7%), while the prices for the other major destinations experienced more modest paces of growth.

Inflator System Airbag Imports

Imports into India

In 2022, the amount of airbags with inflator system and parts thereof imported into India skyrocketed to X tons, jumping by 35% compared with the previous year's figure. Over the period under review, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, inflator system airbag imports soared to $X in 2022. Overall, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 34%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest inflator system airbag supplier to India, with a 44% share of total imports. Moreover, inflator system airbag imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +34.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+16.9% per year) and Germany (+18.5% per year).

In value terms, China ($X) constituted the largest supplier of airbags with inflator system and parts thereof to India, comprising 40% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+19.7% per year) and Germany (+13.9% per year).

Import Prices by Country

The average inflator system airbag import price stood at $X per ton in 2022, declining by -6.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 20%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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