U.S.: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in the U.S.

The U.S. safety seat belt market expanded modestly to $X in 2022, increasing by 3.9% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.1% 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 -4.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Safety Seat Belt Production in the U.S.

In value terms, safety seat belt production expanded to $X in 2022. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 38%. Safety seat belt production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Safety Seat Belt Exports

Exports from the U.S.

In 2022, the amount of safety seat belts exported from the United States dropped to X units, waning by -6.4% compared with the year before. In general, exports saw a precipitous descent. The growth pace was the most rapid in 2015 when exports increased by 1.8% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, safety seat belt exports reached $X in 2022. Overall, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of 9.2%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for safety seat belt exports from the United States, accounting for a 68% share of total exports. Moreover, safety seat belt exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), fourfold. The third position in this ranking was held by Japan (X units), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to -26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-30.1% per year) and Japan (+0.5% per year).

In value terms, Canada ($X) remains the key foreign market for safety seat belts exports from the United States, comprising 64% of total exports. The second position in the ranking was taken by Mexico ($X), with an 18% share of total exports. It was followed by Japan, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to Canada totaled -8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-10.9% per year) and Japan (+27.1% per year).

Export Prices by Country

In 2022, the average safety seat belt export price amounted to $X per unit, picking up by 15% against the previous year. Over the period under review, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2021 an increase of 80%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and Japan ($X per unit), while the average price for exports to South Korea ($X per unit) and Canada ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Seat Belt Imports

Imports into the U.S.

Safety seat belt imports into the United States totaled X units in 2022, with an increase of 7.4% on the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 54% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, safety seat belt imports surged to $X in 2022. Overall, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 117% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Mexico (X units) constituted the largest safety seat belt supplier to the United States, with a 81% share of total imports. Moreover, safety seat belt imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X units), tenfold. South Korea (X units) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.4% per year) and South Korea (+33.0% per year).

In value terms, Mexico ($X) constituted the largest supplier of safety seat belts to the United States, comprising 82% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.4% share of total imports. It was followed by China, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico stood at +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+43.1% per year) and China (+1.4% per year).

Import Prices by Country

In 2022, the average safety seat belt import price amounted to $X per unit, increasing by 9.4% against the previous year. In general, the import price recorded a resilient expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 61%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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