Press release
Active Seat Belt System Market to Reach $12,707 Million, Globally, by 2023
Active Seat Belt System Market
Asia-Pacific dominates this market at present, followed by Europe. In 2016, China dominated the Asia-Pacific market; similarly, in year 2016, Germany led the overall market in Europe. However, in North America, U.S. currently dominates the market.
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Factors such as rise in incidence of road accidents, increase in awareness towards automotive safety among consumers, growth of automotive safety norms, and high demand for luxury vehicles drive the global active seat belt systems market. However, high cost of the active seat belt hampers this growth.
In 2016, the pretensioner segment dominated the global active seat belt systems in component segment, in terms of revenue. Furthermore, based on application, passenger cars led the global market, followed by commercial vehicle in 2016. However, commercial vehicle segment is expected to depict the highest CAGR throughout the forecast period.
The key players profiled in the report include Autoliv, Inc., Continental Corporation, DENSO Corporation, Far Europe Holding Limited, Hyundai Mobis Co., Ltd., Ningbo Joyson Electronics Corp. (Key Safety Systems, Inc.), Takata Corporation, Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG
Key Findings of the Active Seat Belt System Market:
• The passenger car segment generated the highest revenue in the global active seat belt systems market in 2016.
• In 2016, the pretensioner segment was the highest revenue contributor in the application segment.
• LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
In 2016, Asia-Pacific contributed the highest market share, followed by Europe, North America, and LAMEA.
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