Kuwait: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Kuwait

The Kuwaiti inflator system airbag market reduced rapidly to $X in 2022, declining by -28.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded tangible growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Inflator System Airbag Exports

Exports from Kuwait

Inflator system airbag exports from Kuwait reduced to X tons in 2022, with a decrease of -11% compared with 2021 figures. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 4,424%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, inflator system airbag exports expanded significantly to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 with an increase of 1,560%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for inflator system airbag exports from Kuwait, with a 95% share of total exports. Moreover, inflator system airbag exports to Japan exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +64.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+32.8% per year) and Hong Kong SAR (-11.5% per year).

In value terms, Japan ($X) remains the key foreign market for airbags with inflator system and parts thereof exports from Kuwait, comprising 75% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +59.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+27.4% per year) and Hong Kong SAR (-15.2% per year).

Export Prices by Country

In 2022, the average inflator system airbag export price amounted to $X per ton, rising by 18% against the previous year. Over the period under review, the export price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 90% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Japan ($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 Qatar (+40.7%), while the prices for the other major destinations experienced a decline.

Inflator System Airbag Imports

Imports into Kuwait

In 2022, the amount of airbags with inflator system and parts thereof imported into Kuwait reduced dramatically to X tons, dropping by -25.9% on 2021 figures. In general, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 165%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, inflator system airbag imports declined rapidly to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2016 when imports increased by 119%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of inflator system airbag to Kuwait, with a 80% share of total imports. Moreover, inflator system airbag imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X kg), more than tenfold. The third position in this ranking was taken by Mexico (X kg), with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.4% per year) and Mexico (+10.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of airbags with inflator system and parts thereof to Kuwait, comprising 62% of total imports. The second position in the ranking was taken by Hungary ($X), with a 9.6% share of total imports. It was followed by Mexico, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+50.7% per year) and Mexico (+7.8% per year).

Import Prices by Country

In 2022, the average inflator system airbag import price amounted to $X per ton, picking up by 14% against the previous year. Overall, the import price, however, saw a noticeable setback. The pace of growth was the most pronounced in 2016 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average 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 Hungary ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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