The automotive seat belts global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Seat Belts Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive seat belts market size has grown strongly in recent years. It will grow 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.
The automotive seat belts market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include focus on smart seat belt technologies, integrating sensors for improved occupant safety, advancements in belt buckle technology, technological innovations for improved crash protection, innovation in material sciences.
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Scope Of Automotive Seat Belts Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Seat Belts Market Overview
Market Drivers –
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. For instance, in January 2024, according to the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australia-based government agency, road fatalities surged by 7.3% in 2023, reaching a total of 1,266, compared to 1,180 in the previous year. Therefore, increasing road accidents are driving the growth of the automotive seat belt market.
Market Trends –
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. For instance, in January 2023, ZF Friedrichshafen, a Germany-based engineering technology company, launched Heat Belt, an innovative heated seatbelt for electric vehicles that enhances occupant warmth in cold climates. This advancement aims to reduce interior heating energy consumption, potentially extending an EV’s range by up to 15% in chilly conditions. Woven into the seatbelt structure, the heating conductors allow it to function conventionally, delivering close-to-body warmth as soon as the vehicle is in motion.
The automotive seat belts market covered in this report is segmented –
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
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Regional Insights –
Asia-Pacific was the largest region in the automotive seat belts market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive seat belts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
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.
Table of Contents
- Executive Summary
- Automotive Seat Belts Market Report Structure
- Automotive Seat Belts Market Trends And Strategies
- Automotive Seat Belts Market – Macro Economic Scenario
- Automotive Seat Belts Market Size And Growth
…..
- Automotive Seat Belts Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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