Saudi Arabia: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in Saudi Arabia

The Saudi safety seat belt market expanded to $X in 2022, picking up by 5% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.6% against 2020 indices. Safety seat belt consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Safety Seat Belt Production in Saudi Arabia

In value terms, safety seat belt production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Safety Seat Belt Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in overseas shipments of safety seat belts, when their volume decreased by -37% to X units. Overall, exports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 291%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, safety seat belt exports fell to $X in 2022. Over the period under review, exports recorded a sharp decline. The most prominent rate of growth was recorded in 2014 when exports increased by 222% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sudan (X units) was the main destination for safety seat belt exports from Saudi Arabia, accounting for a 146% share of total exports. Moreover, safety seat belt exports to Sudan exceeded the volume sent to the second major destination, Hong Kong SAR (X units), eightfold. Bahrain (X units) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Sudan stood at +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-35.6% per year) and Bahrain (-6.7% per year).

In value terms, Sudan ($X) remains the key foreign market for safety seat belts exports from Saudi Arabia, comprising 271% of total exports. The second position in the ranking was held by Bahrain ($X), with a 98% share of total exports. It was followed by Hong Kong SAR, with a 79% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sudan totaled +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+38.8% per year) and Hong Kong SAR (-34.1% per year).

Export Prices by Country

The average safety seat belt export price stood at $X per unit in 2022, with an increase of 38% against the previous year. Over the period under review, the export price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2020 when the average export price increased by 50%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per unit), while the average price for exports to Sudan ($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 Bahrain (+48.7%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Seat Belt Imports

Imports into Saudi Arabia

In value terms, safety seat belt imports dropped notably to $X in 2014. Overall, imports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. As a result, imports attained the peak of $X, and then dropped remarkably in the following year.

Imports by Country

Germany (X units) and the United States (X units) were the main suppliers of safety seat belt imports to Saudi Arabia. Moreover, safety seat belt imports in Germany exceeded the figures recorded by the second-largest supplier, the United States, threefold.

From 2012 to 2014, the biggest increases were recorded for the United States (with a CAGR of 0.0%).

In value terms, Germany ($X) constituted the largest supplier of safety seat belts to Saudi Arabia, comprising 54% of total imports. The second position in the ranking was taken by the United States ($X), with an 18% share of total imports.

From 2012 to 2014, the average annual rate of growth in terms of value from Germany stood at -84.8%.

Import Prices by Country

In 2014, the average safety seat belt import price amounted to less than $X per thousand units, standing approx. at the previous year. Overall, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per thousand units), while the price for China ($X per thousand units) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by the United States (+59.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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