Portugal: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Portugal

In 2022, after ten years of growth, there was significant decline in the Portuguese inflator system airbag market, when its value decreased by -28.5% to $X. In general, consumption, however, recorded strong growth. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted rapidly in the following year.

Inflator System Airbag Production in Portugal

In value terms, inflator system airbag production reduced sharply to $X in 2022 estimated in export price. In general, production saw a slight decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by 41% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Inflator System Airbag Exports

Exports from Portugal

In 2022, after three years of decline, there was significant growth in overseas shipments of airbags with inflator system and parts thereof, when their volume increased by 10% to X tons. Over the period under review, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 49%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, inflator system airbag exports totaled $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 44%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X tons), France (X tons) and Sweden (X tons) were the main destinations of inflator system airbag exports from Portugal, with a combined 81% share of total exports. Germany, South Korea, the Czech Republic, Belgium, Romania, the UK and Italy lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +161.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inflator system airbag exported from Portugal were Spain ($X), France ($X) and Sweden ($X), with a combined 75% share of total exports. South Korea, Germany, Belgium, the Czech Republic, the UK, Romania and Italy lagged somewhat behind, together accounting for a further 22%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +146.2%, recorded 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

In 2022, the average inflator system airbag export price amounted to $X per ton, which is down by -9.2% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 4.9% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Romania ($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 the UK (-1.9%), while the prices for the other major destinations experienced a decline.

Inflator System Airbag Imports

Imports into Portugal

In 2022, supplies from abroad of airbags with inflator system and parts thereof was finally on the rise to reach X tons after three years of decline. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 257%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, inflator system airbag imports shrank slightly to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 294% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of inflator system airbag to Portugal, accounting for a 38% share of total imports. Moreover, inflator system airbag imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Hungary (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+68.0% per year) and Hungary (+59.4% per year).

In value terms, Germany ($X) constituted the largest supplier of airbags with inflator system and parts thereof to Portugal, comprising 49% of total imports. The second position in the ranking was held by Hungary ($X), with a 14% share of total imports. It was followed by Poland, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+52.3% per year) and Poland (+54.9% per year).

Import Prices by Country

In 2022, the average inflator system airbag import price amounted to $X per ton, shrinking by -10.3% against the previous year. Overall, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 10% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 Spain ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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