Overview and Scope
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.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the automotive seat belts market report are 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.
The automotive seat belts market report table of contents includes:
- Executive Summary
- Automotive Seat Belts Market Characteristics
- Automotive Seat Belts Market Trends And Strategies
- Automotive Seat Belts Market – Macro Economic Scenario
- Global Automotive Seat Belts Market Size and Growth
- Automotive Seat Belts Market Segmentation
- Automotive Seat Belts Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Automotive Seat Belts Market
- Automotive Seat Belts Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Automotive Seat Belts Market, Segmentation By Seat Belt Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Automotive Seat Belts Market, Segmentation By Vehicles, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Automotive Seat Belts Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………..
Table 75: Robert Bosch GmbH Financial Performance
Table 76: DENSO CORPORATION Financial Performance
Table 77: Volvo Group Financial Performance
Table 78: Continental AG Financial Performance
Table 79: Hyundai Mobis Co. Ltd. Financial Performance
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