Automotive Seat Belt System Market Trends, Scope, Forecast by 2027

Transparency Market Research has published a new report titled, "Global Automotive Seat Belt System Market (Technology: Active Seat Belt System and Passive Seat Belt System; Vehicle: Passenger Vehicle and Commercial Vehicle; Seat: Front and Rear Seat; Design: Two-point, Three-point, and Four-point & Above; Component: Retractor, Pretensioner, Load Limiters, Webbing, Seat Belt Reminder, height Adjuster, Buckle, and Seat Belt Pillar Loops; Sales Channel: OEMs and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027" According to the report, the global automotive seat belt system market is projected to surpass US$ 30 Bn by 2027, expanding at a CAGR of above 4% during the forecast period.

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According to the report, the global automotive seat belt system market is likely to be driven by a range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 4% between 2019 and 2027.

The automotive seat belt system is a passive safety equipment mounted across the seats to hold the occupant on the seat during a collision or sudden deceleration of the vehicle. Three-point and two-point belt systems are extensively used types. Moreover, passenger cars comprise three-point seat belts. Retractor, pretensioner, buckle, and latch plates are key components of the seat belt system. Primarily, there are three types of retractors: Emergency locking retractor (ELR), automatic locking retractor (ALR), and switchable retractor. The types of pretensioners are: retractor pretensioner, buckle pretensioner, and anchor pretensioner.

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Road traffic injury is, presently, among the leading cause of death for children and young adults (aged 5 to 29 years), signaling a need for a shift in the current road safety standards. Motor vehicle crashes, currently, represent the eighth-leading cause of death, globally. According to World Health Organization (WHO), deaths from road traffic crashes have increased to 1.35 million a year. That's nearly 3,700 people dying on the world's roads every day. Among them, a majority of drivers and passengers who lose their lives in a motor vehicle crash do not use the seat belt system, which reduces the impact in case of frontal collision and helps avert fatal injuries. Hence, the mandate by governments on the seat belt system is likely to create a positive impact on the seat belt system market during the forecast period.

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In terms of region, the global automotive seat belt system market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific leads the global automotive seat belt system market. The seat belt system market in Asia Pacific is expanding due to the rising production of vehicles in the region. Furthermore, higher foreign investment in the region supplemented with a rise in number of manufacturing sites in China, India, Japan, Indonesia, and South Korea are likely to augment the automotive seat belt system market in Asia Pacific during the forecast period.

Prominent players operating in the global automotive seat belt system market include APV Safety Products, Autoliv Inc., Beam's Seat Belts, Belt-tech, BERGER GROUP, Continental AG, DENSO Corporation., Far Europe Inc., Goradia Industries, GWR Co., Joyson Safety Systems, Robert Bosch GmbH, Seat Belt Solutions LLC, TOKAIRIKA,CO, LTD, and ZF Friedrichshafen AG.

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This release was published on openPR.