Spain: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Spain

In 2022, the Spanish inflator system airbag market decreased by -7.1% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a abrupt decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Inflator System Airbag Production in Spain

In value terms, inflator system airbag production reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. Inflator system airbag production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Inflator System Airbag Exports

Exports from Spain

For the fourth year in a row, Spain recorded decline in shipments abroad of airbags with inflator system and parts thereof, which decreased by -2% to X tons in 2022. In general, exports faced a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 28%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, inflator system airbag exports stood at $X in 2022. Overall, exports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 63%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X tons), France (X tons) and Morocco (X tons) were the main destinations of inflator system airbag exports from Spain, with a combined 59% share of total exports. Poland, the United States, Romania, Germany, Slovakia, South Africa, Argentina, Portugal, Austria and Belgium lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +154.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inflator system airbag exported from Spain were Morocco ($X), the UK ($X) and France ($X), with a combined 71% share of total exports. The United States, Argentina, Portugal, Poland, Slovakia, Romania, Germany, South Africa, Austria and Belgium lagged somewhat behind, together accounting for a further 23%.

The United States, with a CAGR of +141.2%, recorded the highest growth rate of 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

In 2022, the average inflator system airbag export price amounted to $X per ton, picking up by 4.5% against the previous year. Over the period under review, the export price saw a strong increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 43% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Poland ($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 Morocco (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Inflator System Airbag Imports

Imports into Spain

In 2022, the amount of airbags with inflator system and parts thereof imported into Spain reduced to X tons, with a decrease of -10.3% against 2021. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.9% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 55% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, inflator system airbag imports contracted to $X in 2022. In general, imports saw a mild shrinkage. The growth pace was the most rapid in 2016 with an increase of 16%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Poland (X tons) constituted the largest inflator system airbag supplier to Spain, accounting for a 38% share of total imports. Moreover, inflator system airbag imports from Poland exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. France (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 Poland amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+11.0% per year) and France (+7.0% per year).

In value terms, Poland ($X) constituted the largest supplier of airbags with inflator system and parts thereof to Spain, comprising 28% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports. It was followed by Romania, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.8% per year) and Romania (+2.7% per year).

Import Prices by Country

The average inflator system airbag import price stood at $X per ton in 2022, falling by -3.5% against the previous year. Over the period under review, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 40% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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