February 11, 2020
According to the research report titled ‘Automotive Seat Belts Market Size By Type (2 Point Seatbelt, 3 Point Seatbelt), By Vehicle (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), By Component (Webbing Strap, Retractors, Buckles, Tongues, Pillar Loops), By Distribution Channel (OEM, Aftermarket) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Brazil, Mexico, Argentina, Chile, UAE, Saudi Arabia, South Africa, Iran), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global automotive seat belts market is set to acquire commendable gains by the year 2025.
According to the report, strict traffic regulations and increasing awareness pertaining to passenger safety have enhanced the demand for automotive seatbelts which in turn is driving the market growth. The product helps in reducing the fatality rate as well as the risk of severe injury. Moreover, seatbelts protect extremities, chest, and head during traffic collision, thus offering safety to passengers and further aiding the market expansion. Advancements in technology pertaining to seatbelts have resulted in better protection capabilities, thereby facilitating the business scenario.
As per type, the report states that the 3-point seat belt market segment is expected to register substantial growth during the forecast period. This product type helps in keeping the passenger body straight and minimizes the gravitational force impact during collision. Thus, enhanced protection capabilities are contributing towards the popularity of 3-point seatbelts across the globe.
In terms of vehicle, the passenger vehicle segment is presumed to expand significantly during the estimated timeframe. Increasing utilization of automobiles along with shifting preferences towards enhanced safety features are fueling the segmental growth.
Based on component type, the report cites that webbing strap segment will witness robust growth in the subsequent years. Webbing strap have better stretch and strength and thus, growing demand for such components are stimulating the industry outlook. Moreover, development of advanced webbing straps such as low friction finish and lighter belts is propelling the segmental growth.
Citing the distribution channel, OEM automotive seatbelt market segment is predicted to grow considerably by 2025. Various OEMs are developing superior seatbelts that offer reliability, quality, and flexibility in order to comply with government regulations regarding passenger safety. Thus, aforementioned factors are contributing towards the market growth.
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As per regional analysis, the report states that North America holds the largest share in global automotive seatbelt industry. The growth is attributed to high concentration of automobile manufactures in the region and rising adoption of advanced seatbelts. Favorable federal regulations which promote the use of seatbelts are also augmenting the regional demand for the product. On the other hand, automotive seatbelt market in Asia-Pacific is expected to grow due to increasing sales of automobiles.
The prominent companies operating in the automotive seatbelt market are ZF TRW, Tokai Rika Co. Ltd., Toyoda Gosei, Takata Corporation, Nihon Plast, KSS, Hyundai Mobis, Goradia Industries, GWR Co., Autoliv AB, BK Seat Belt Co. Ltd., and Ashimori.
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