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Automotive Seat Belt Market Trend Report
The Automotive Seat Belts Market is Segmented by Type (2-point Seat Belts, 3-point Seat Belts), by Vehicle Type (PCV, LCV, and HCV), by Component Type (Webbing Strap, Retractors, Buckles, Tongues, and Pillar Loops), by Distribution Channel Type...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Automotive Seat Belts Market is likely to witness a CAGR of 4.5% during the forecast period. Growing awareness regarding safety of passengers coupled with ongoing initiatives to minimize injury severity and fatality rate, increasing enhancements in safety systems to improve their efficiency, growing production and demand for passenger vehicles, and presence of a large number of distributors are some of the major factors driving the market growth during the forecast period.
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Automotive Seat Belts Market – Snapshot |
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Growth |
4.5% for the next five years |
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Dominant Type |
3-point Seat Belts |
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Major Vehicle Type |
LCV |
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Major Component Type |
Retractor |
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Leading Distribution Channel Type |
Aftermarket |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
Ashimori Industry Co., Ltd., BK Seat Belt, Continental AG, Goradia Industries, Hyundai Mobis Co., Ltd., Joyson Safety Systems, Ningbo BX Automotive Co., Ltd., Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd., and ZF TRW Automotive Inc. |
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Based on the type, the market is segmented as 2-point seat belts and 3-point seat belts. 3-point seat belts are estimated to be the dominant segment of the market owing to superior comfort and safety efficiency offered by them. These seat belts also offer flexibility in adjustment for pregnant women and children, accelerating the growth of the segment during the forecast period.
Based on the vehicle type, the market is segmented as PCV, LCV, and HCV. LCV is estimated to witness significant growth owing to increasing vehicle sales globally during the forecast period. Factors such as growing logistic industry coupled with increasing freight activities, boosting the LCVs’ fleet size and frequent launch of new models with incorporation of seatbelt reminders in these vehicles are expected to fuel the market growth during the forecast period.
Based on the component type, the market is segmented as webbing straps, retractors, buckles, tongues, and pillar loops. Retractor component accounted for over 35% share of the market in 2020 owing to the development of products including emergency locking retractors and automatic locking retractors. Implementation of emergency locking retractors in new vehicle models by the automotive industry players is further expected to boost the segment’s growth during the forecast period.
On the other hand, the webbing strap segment is estimated to witness significant growth rate in the market owing to its implementation for restricting the body movement of the occupant upon impact during collision. Factors such as the application of ultra-high-molecular-weight polyethylene coupled with high-performance aramids and development of heated seat belts with heated power devices are further expected to fuel the market growth over the forecast period.
Based on the distribution channel type, the market is segmented as OEM and aftermarket. The aftermarket distribution channel is projected to register higher growth rate in the market during the forecast period owing to the increasing adoption of pre-owned vehicles. The replacement of seat belts from older vehicle models coupled with development of cost-effective products is further expected to accelerate the segment’s growth over the forecast period.
In terms of regions, Asia-Pacific is estimated to be the dominating region in the market during the forecast period owing to the growing vehicle sales and regulation in various countries for installing seatbelts in each vehicle. Moreover, ongoing investments made by the government authorities to spread awareness regarding vehicle safety is further expected to fuel the growth of the regional market over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
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Some of the key players in the automotive seat belts market are-
Seat belt, also known as safety belt is basically a safety harness designed to safeguard the occupant of a vehicle from any harmful movement which may be a resultant of a sudden stop or a collision.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Automotive Seat Belts Market Research Report - Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The automotive seat belts market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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Driven by the factors like increasing automotive production across the regions, automotive seat belt market is expected to witness an impressive growth of 4.5% CAGR during the forecast period of 2021-25.
Ashimori Industry Co., Ltd., BK Seat Belt, Continental AG, Goradia Industries, Hyundai Mobis Co., Ltd., Joyson Safety Systems, Ningbo BX Automotive Co., Ltd., Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd., and ZF TRW Automotive Inc. are among the key players in the Automotive Seat Belts Market.
Asia-Pacific is estimated to be the dominating region in the automotive seat belts market during the forecast period.
LCV is estimated to witness significant growth in the automotive seat belts market in the coming years.
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