Automotive Seatbelt Market Size to exceed $10bn by 2025

Automotive Seatbelt Market size is estimated to surpass USD 10 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Ongoing initiatives to minimize injury severity and fatality in a vehicle crash will support automotive seatbelt market growth over the study timeframe. The safety belts are designed to absorb the crash impact to the limit influence on occupant’s body. Automotive manufacturers are implementing multiple safety systems to ensure passenger safety. Rising adoption of safety belts is driving the product demand across the globe.

 

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Rising awareness regarding driver and passenger safety is proliferating the automotive seatbelt market demand. In 2018, NHTSA announced that the use rate of safety belts rose to around 90% and its use saved around 14,955 lives. Regulatory bodies are adopting stringent regulation to ensure occupant’s safety. In August 2018 European Union announced to adopt UNECE regulations from September 2019. The regulation mandates installation of seatbelt reminders for all front and rear seats.
 

U.S. Automotive Seat Belts Market, By Type, 2018 & 2025, (USD Million)
Automotive Seatbelt Market

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Industry participants are investing in R&D to develop biometric sensor technologies that can be incorporated in safety belt to predict cardiac arrest and prevents fatal accidents. The cardiovascular and neurological conditions are frequent causes of attacks while driving. Automotive manufacturers along with research organizations are working to develop sensors to reduce fatalities. For instance, in June 2017, Toyota with Michigan Medicine announced a plan to develop monitoring patches inserted in belt to measure heart rates of the driver. Such innovations will escalate automotive seatbelt market size over forecast timeframe.
 

Usage of low-quality belt components coupled with frequent vehicle recall incidents owing to system failure will hamper the product demand. For instance, in November 2018, Volkswagen announced recall of about 75,000 Polo, Seat Ibiza, and Arona cars owing to the failure of center rear safety belt. Implementation of inefficient safety systems may restrict the market growth.
 

Browse key industry insights spread across 250 pages with 511 market data tables & 11 figures & charts from the report, “Automotive Seatbelt 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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-seat-belts-market
 

3-point system will showcase a significant growth in automotive seatbelt market size owing to superior safety features. In February 2017, NHTSA Fatality Reporting System announced 3-point seatbelt in light trucks reduces fatalities by 75% as that of 73% in 2-point seatbelt system. Commercial vehicle manufacturers are implementing the 3-point system to enhance occupant safety.
 

PCV will dominate the the market size till 2025. This can be attributed to increasing passenger vehicle sales across the globe. Introduction of new passenger vehicle models along with advanced safety features will enhance the segment penetration. For instance, in March 2019, Tata Motors launched SUV Harrier with advanced safety features including belt reminder and airbags.
 

Retractor will witness significant growth owing to the development of several retractors including automatic locking and Emergency Locking Retractor (ELR). The vehicle manufacturers are launching vehicles with ELR owing to the higher comfort for seat assembly. In August 2018, Renault launched KWID with the incorporation of rear ELR systems.
 

OEM dominates the automotive seatbelt market share owing to mandatory usage of seatbelt to meet regulatory requirements. In August 2017, Ministry of Road Transport, India announced that car manufactures must incorporate safety features such as seat belt alerts after March 2019. Additionally, after April 2019, the vehicle shall incorporate additional Automotive Industry Standard (AIS), 145 that works to enhance the usage of protective belt.
 

North America automotive seatbelt market will witness significant growth over study timeframe owing to ongoing initiatives to develop efficient safety belt technologies. The program such as Small Business Innovation Research (SBIR) encourages domestic industry players to develop new designs and prototypes that enhance the safety features. Further, presence of major automotive manufacturers will enhance product demand across the region.
 

Major industry participants in the market includes Autoliv AB, Toyoda Gosei Co. Ltd., Hyundai Mobis Co. Ltd., KSS, ZF TRW, Ashimori, and Takata Corporation. Industry players are expanding the product portfolio to serve larger consumer bases. For instance, in September 2018, ZF TRW launched a new active control retractor seatbelt system that vibrates to warn the driver of potential dangers.
 

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Automotive seatbelt market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million units and revenue in USD million from 2013 to 2025, for the following segments:

By Type (Volume and Revenue)

  • 2-Point
  • 3-Point

By Vehicle (Volume and Revenue)

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Component (Revenue)

  • Webbing Strap
  • Retractors
  • Buckles
  • Tongues
  • Pillar Loops

By Distribution Channel (Revenue)

  • OEM
  • Aftermarket

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Poland
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Thailand
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa
    • Iran

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