ASEAN: Safety Seat Belt Market 2024

Safety Seat Belt Market Size in ASEAN

The ASEAN safety seat belt market reduced to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Safety Seat Belt Production in ASEAN

In value terms, safety seat belt production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Safety Seat Belt Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in overseas shipments of safety seat belts, which increased by X% to X units in 2022. Overall, exports, however, saw a pronounced decline. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, safety seat belt exports declined to $X in 2022. In general, exports, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand dominates exports structure, resulting at X units, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X units), making up a X% share of total exports. Indonesia (X units) held a relatively small share of total exports.

Exports from Thailand decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. Vietnam (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest safety seat belt supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports.

In Thailand, safety seat belt exports shrank by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the export price figures.

Safety Seat Belt Imports

Imports in ASEAN

Safety seat belt imports surged to X units in 2022, increasing by X% against 2021 figures. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, safety seat belt imports surged to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The purchases of the three major importers of safety seat belts, namely Indonesia, Vietnam and Malaysia, represented more than two-thirds of total import. It was distantly followed by Thailand (X units), comprising a X% share of total imports. Singapore (X units) took a minor share of total imports.

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

In value terms, the largest safety seat belt importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Malaysia ($X), with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, declining by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :