According to Acumen Research and Consulting, the global automotive seat belt system market is anticipated to expand at strong CAGR above 6 % during the forecast time frame and reach around US$ 25 billion by 2026.
Seat loops are essential vehicle components. In times of accidents, seat belts are called life savior. Such belts protect the driver and co-passengers in the event of an accident and therefore it is always advisable when driving a vehicle to wear seat belts. There are six types of seatbelt such as two-point, three-point, four-point, cinematic, six-point and belt-in-place. There are also six seatbelt types. At two end points, a two-point seat belt is attached. Such a seat belt consists of a lap belt wrapping the waist and a shoulder belt holding the foot.
The report provides analysis of global Automotive Seat Belt System market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Due to increasing awareness about security and stringent traffic rules, demand is expected to rise in the automotive seatbelt market during the forecast period. Seatbelt ensures the vehicle occupant's high level of safety, thereby preventing serious injuries during accidents or crashes. It stabilizes the body and gives better comfort in sharp turns. Increasing vehicle production and increased passenger vehicle demand is a major driver for the car seatbelt market. Moreover, the development of the world automotive seats belt market is driven by stringent safety standards set out by the governments of the various countries as well as the automobile safety standards for drivers and passengers. In addition, the automotive market will have a significant impact during the period foreseen on growth and rising investments in car seat belt manufacturers around the world. During the forecast period, the high incidence of road accidents worldwide will drive the market. Increasing demand should play a crucial role in government initiatives to promote the importance of seat belts. Many institutions, including the new car evaluation program, give safety ratings to automobiles and thus facilitate technological progress in this area. The use of the inflated seat straps in the next seven years is projected to increase. Excessive seat belts are a combination of airbags and seatbelt, also known as beltbags. The seatbelt fabric layers are fitted with an airbag that allows better safety during driving. During a collision or crash, the gas produced by the belt inflates in the bag and thus ensures the driver and passengers are protected. Belt Pro is an invention for the automation of bacteria on seat belts to protect against health risks caused by bacteria. Increasingly, this product is used in public transport, including coaches and cabins where many people use seatbelt systems. Product costs will increase over the forecast period, preventing market growth. Increasing demand for automotive airbags is also expected over the forecast period to limit automotive seatbelt growth.
Vehicle Type Outlook
The car seatbelt market is divided into passenger car and commercial vehicles based on the type of vehicles. The segment of commercial vehicles is further subdivided into light vehicles, heavy goods vehicles, busses and cars. Currently, more than two thirds of the total demand is provided for in the passenger car segment, reflecting strict government regulations and a growing consumer awareness of safety measures on the road. The production of low-cost safety systems and rear seat belts will be expected to concentrate on manufacturers in the near future. Growth of demand in Europe and Asia-Pacific for compact vehicles is expected to further drive demand in this segment of passenger cars.
Design Type Outlook
The market for automotive seat belts has been transformed into two-piece seat belts, three-piece seat belts, four-point seat belts, five-piece seat belts, six-piece seatbelts and a belt-in-seat based on design type. In the current market scenario, demand for the three-point seat belt is strongest, even though the overall dominance in the segment will slightly decrease during the reporting period. The occupants have diagonal as well as lap-grip systems with three-point seat belts and are integrated primarily into passenger vehicles.
Technologically, the automotive seat belt market was classified as active seat belt, retractor, pretensioner, load limiter, bag-in-belt and belt reminder. The two technologies are highly demanded, including the retractor and pretensioner, but the latter is ready for moderately better prospects for the future. Pretensioner provides both reliability and efficient performance. In addition, high retractor costs are a key factor due to the prominent share of the market segment of the seat belt system. Pretensioners on the other hand are mainly built into retractors and play an important role in the protection of occupants during a crash.
On the basis of geography, the global automotive seat belts market is divided into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia Pacific accumulate highest market share in 2018 and expected to grow at highest CAGR over the forecast period. Countries like China and India have experienced a high demand for passenger vehicles in the Asia-Pacific region. The use of seat belts in passengers ' vehicles in the mentioned countries has been stepped up in turn. Increased investments by different players in the market are expected to have positive growth effects in the coming seven years. In China, consumers are better adapted to improved security and comfort, thereby developing cost-effective, high-performance seat belt systems that meet customer requirements. With the presence of the main car manufacturers, Germany is Europe's largest market and the biggest contributor to the auto seat belt market. The U.S. is the biggest automotive seat belt market in North America. The United States is the world's second largest car manufacturer. As vehicle uses and production are reduced in the above-mentioned regions, there is low growth rate of the car seat belt market in Latin America, Middle East and Africa. However, the market for car seat straps is expected to improve during the coming years as the automotive sector is growing and the car companies in Latin America, the Middle East and Africa are investing.
Global Automotive Seat Belt System Market, By Technology
Global Automotive Seat Belt System Market, By Design Type
Global Automotive Seat Belt System Market, By Component
Global Automotive Seat Belt System Market, By Sales Channel
Global Automotive Seat Belt System Market, By Vehicle Type
Global Automotive Seat Belt System Market, By Geography
The market research study on “Automotive Seat Belt System Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global automotive seat belt system market segments with market dynamics and their impact. The report also covers basic technology development policies.
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Key Players & Strategies
Few of the major actors in the industry in the global cord-blood banking market are APV Safety Products, Beam's Seatbelts, Joyson Safety Systems, Goradia Industries, BERGER GROUP, DENSO Corporation., Autoliv Inc., Far Europe Inc., Robert Bosch GmbH, Continental AG, Belt-tech, Seatbelt Solutions LLC, TOKAI RIKA,CO and GWR Co.
The report also analyzes market shares of companies among the different participants in the industry. Purchase is the principal strategy that leading market players widely follow. The acquirer benefits from the existing synergies in the event of an acquisition. This is expected to result in both companies being more profitable and strong. Companies develop and test the products in order to ensure that the safety regulations have been respected against critical accidents. The growth strategies of manufacturers to retain their market share are long-term contracts with automakers and new technology inclusion.
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