Automotive Seat Belts global market 2024 to reach $18.4 billion by 2028 at a rate of 5.7%
Seat Belts Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Automotive Seat Belts Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 4, 2024 /EINPresswire.com/ -- The automotive seat belts market has experienced robust growth in recent years, expanding from $13.77 billion in 2023 to $14.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to rising automobile sales and production, increasing consumer disposable income, increasing road fatalities owing to road accidents, rising demand for passenger cars, stringent government regulations.
Strong Future Growth Anticipated
The automotive seat belts market is projected to continue its strong growth, reaching $18.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing awareness of road safety, increasing growth of electric vehicles, growing demand for three-point seat belts, increasing focus on driver safety, increasing leisure and travel activities.
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Growth driver of the automotive seat belts market
Increasing road accidents are expected to propel the growth of the automotive seat belt market going forward. Road accidents refer to unexpected events involving vehicles on a road that result in damage, injury, or death. Automotive seat belts enhance vehicle safety by reducing the severity of injuries in road accidents during unexpected halts or collisions, thereby reducing the risk of injury or fatalities.
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Major Players and Market Trends
Key players in the automotive seat belts market include Robert Bosch GmbH, DENSO CORPORATION, Volvo Group, Continental AG, Hyundai Mobis Co. Ltd., Forvia Faurecia SE, Toshiba Corporation, Lear Corporation, Aptiv PLC, Autoliv Inc., Toyoda Gosei Co. Ltd., Joyson Safety Systems Aschaffenburg GmbH, Tokai Rika Co. Ltd., Takata Seat Belts Inc., Tokin Corporation, Ashimori Industry Co. Ltd., Simpson Performance Products, Schroth Safety Products, Sabelt S.p.A., Holmbergs Safety System Holding AB, Fasching Salzburg GmbH, GWR Safety Systems, Goradia Industries (Beam's Seatbelts), APV Corporation, Far Europe Inc., Kingfisher Automotive Pte. Ltd., BERGER Group, Midwest Precision Products, BK Seat Belt Co. Ltd., Granat Industries Inc.
Major companies operating in the automotive seat belt market are increasing their focus on developing innovative solutions, such as heated seat belt technology, to increase their profitability in the market. Heated seat belt technology in automotive refers to the integration of heating elements into seat belts, enhancing occupant comfort by providing warmth during cold weather conditions.
Segments:
1) By Seat Belt Type: Three-Point, Five-Point
2) By Vehicles: Passenger Cars, Light Commercial Vehicles, Buses, Trucks
3) By Technology: Pretensioner Automotive Seatbelts, Retractor Automotive Seatbelts, Active Automotive Seatbelts, Inflatable Automotive Seatbelts, Load Limiter Automotive Seatbelts, Reminder Automotive Seatbelts
4) By Sales Channel: Original Equipment Manufacturer(OEM), Aftermarket
Geographical Insights: North America Leading the Market
North America was the largest region in the automotive seat belts market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of automotive seat belts.
Automotive Seat Belts Market Definition
An automotive seat belt is a safety restraint system consisting of a strap and buckles designed to secure vehicle occupants during sudden stops or collisions. Its primary use is to reduce the risk of injury by preventing occupants from being ejected and minimizing the impact forces during a vehicular incident.
The main types of automotive seat belts are three-point, and five-point. A three-point seat belt is a safety restraint system in automobiles that secures the occupant at three points across the lap and diagonally across the chest. The various vehicles include passenger cars, light commercial vehicles, buses, and trucks. The various technologies include pretensioner automotive seatbelts, retractor automotive seatbelts, active automotive seatbelts, inflatable automotive seatbelts, load limiter automotive seatbelts, and reminder automotive seatbelts. These are sold through various sales channels such as original equipment manufacturer(OEM), and aftermarket.
Automotive Seat Belts Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Seat Belts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive seat belts market size, automotive seat belts market drivers and trends, automotive seat belts market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive seat belts market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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