Press release
Automotive Seat Belts Market Report 2024-2033: Size, Share, Growth, Trends, Key Players Analysis
Automotive Seat Belts Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $18.4 billion In 2028 At A CAGR Of 5.7% :
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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Automotive Seat Belts Market Major Segments
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
Key Driver - Surge In Road Accidents Spurs Demand For Automotive Seat Belts
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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Prominent Trend - Innovative Heated Seat Belt Technology Enhances Comfort And Efficiency In Electric Vehicles
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.
Automotive Seat Belts 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.
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Largest And Fastest Growing Region In The Market
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Seat Belts Market Report Structure
3. Automotive Seat Belts Market Trends And Strategies
4. Automotive Seat Belts Market - Macro Economic Scenario
5. Automotive Seat Belts Market Size And Growth
…..
27. Automotive Seat Belts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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