Latvia: Inflator System Airbag Market 2025

Inflator System Airbag Market Size in Latvia

The Latvian inflator system airbag market fell slightly to $X in 2022, reducing by -1.7% against the previous year. In general, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.5% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Inflator System Airbag Production in Latvia

In value terms, inflator system airbag production dropped modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 43% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Inflator System Airbag Exports

Exports from Latvia

In 2022, overseas shipments of airbags with inflator system and parts thereof were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2015 with an increase of 220% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, inflator system airbag exports soared to $X in 2022. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 220%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Finland (X tons) was the main destination for inflator system airbag exports from Latvia, with a 58% share of total exports. Moreover, inflator system airbag exports to Finland exceeded the volume sent to the second major destination, Sweden (X kg), fourfold. Estonia (X kg) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland amounted to +169.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+61.4% per year) and Estonia (+24.2% per year).

In value terms, Lithuania ($X), Estonia ($X) and Sweden ($X) constituted the largest markets for inflator system airbag exported from Latvia worldwide, with a combined 57% share of total exports. Finland and Poland lagged somewhat behind, together comprising a further 16%.

Finland, with a CAGR of +131.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination 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, declining by -10.4% against the previous year. Overall, the export price showed a abrupt decrease. The growth pace was the most rapid in 2013 an increase of 104%. 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 Lithuania ($X per ton), while the average price for exports to Finland ($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 Sweden (-4.2%), while the prices for the other major destinations experienced a decline.

Inflator System Airbag Imports

Imports into Latvia

In 2022, the amount of airbags with inflator system and parts thereof imported into Latvia reached X tons, stabilizing at the year before. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 164% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, inflator system airbag imports soared to $X in 2022. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 98%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Mexico (X tons), Poland (X tons) and Estonia (X kg) were the main suppliers of inflator system airbag imports to Latvia, together comprising 70% of total imports. Lithuania, Finland, Germany and the United States lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +31.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of airbags with inflator system and parts thereof to Latvia, comprising 39% of total imports. The second position in the ranking was held by Estonia ($X), with a 13% share of total imports. It was followed by Finland, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+14.3% per year) and Finland (+45.6% per year).

Import Prices by Country

In 2022, the average inflator system airbag import price amounted to $X per ton, picking up by 15% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 33%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Poland ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform