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Global Automotive Seat Belts Market Size, Application, CAGR Analysis, Growth Factors And Future Forecast To 2033
Global Automotive Seat Belts Market
The Business Research Company presents an extensive market research report on the Automotive Seat Belts Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market 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.
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.
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https://www.thebusinessresearchcompany.com/report/automotive-seat-belts-global-market-report
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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