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Automotive Seat Belts Market to Record 5.1% CAGR Growth Through 2029 | Global Analysis Report
Automotive Seat Belts
Automotive Seat Belts Market Outlook: How is the Market Expected to Grow by 2025?
The market size of automotive seat belts has seen consistent growth in the past few years. It is projected to rise from a worth of $14.49 billion in 2024 to $15.04 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 3.8%. Factors contributing to the historic growth include boosted automobile sales and production, an escalation in consumer disposable income, an increase in road fatalities due to accidents, a growing demand for passenger cars, and strict government rules and regulations.
Automotive Seat Belts Market Forecast: What Size Will It Reach By 2029?
The market of automotive seat belts is projected to experience vigorous growth in the ensuing years, escalating to a value of $18.35 billion by 2029, with a compound annual growth rate of 5.1%. The expansion projected in this timeframe can be linked to heightened awareness around road safety, increased prevalence of electric vehicles, demand boost for three-point safety buckles, elevated attention to driver safety, and a rise in leisure and travel pursuits. Key trends anticipated during the forecast period include a shift towards intelligent seat belt systems, incorporation of advanced sensors to enhance passenger safety, break-through in belt buckle technology, technological evolution to enhance crash protection, and novel developments in material sciences.
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Which Key Market Drivers Will Shape Automotive Seat Belts Industry Trends in 2025-2029?
The upsurge in road mishaps is projected to fuel the expansion of the automotive seat belt market. Road mishaps denote unforeseen circumstances involving vehicles on a road leading to damage, harm, or even death. Automotive seat belts substantially enhance vehicle safety as they diminish the seriousness of injuries during sudden stops or impacts, thus lowering the risk of harm or death. For example, the Bureau of Infrastructure and Transport Research Economics (BITRE), a government agency based in Australia, reported that in January 2024, road fatalities increased by 7.3% in 2023, hitting a total of 1,266, relative to 1,180 in the prior year. Consequently, the escalating instances of road accidents are facilitating the growth of the automotive seat belt market.
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What Are the High-Growth Segments in the Automotive Seat Belts Market?
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), After market
Subsegments:
1) By Three-Point: Standard Three-Point Seat Belts, Automatic Locking Retractor (ALR) Seat Belts, Emergency Locking Retractor (ELR) Seat Belts, Adjustable Three-Point Seat Belts
2) By Five-Point: Five-Point Harness Systems, Adjustable Five-Point Seat Belts, Fixed Five-Point Seat Belts, Racing Five-Point Harnesses
Which Global Trends Are Driving Automotive Seat Belts Market Expansion?
Prominent corporations in the automotive seat belt sector are striving to create novel technologies like heated seat belt systems to boost their market gains. These heated seat belt systems integrate heat-generating elements into seat belts, elevating user comfort through providing warmth in cold weather. In January 2023, an example of this was demonstrated when ZF Friedrichshafen, an engineering technology enterprise based in Germany, introduced Heat Belt. This is an innovative heated seatbelt for electric cars designed to improve passenger comfort in cold environments. This development seeks to decrease energy used in heating interiors and possibly increase the driving range of an EV by around 15% in cold temperatures. The seat belt incorporates heat conductors in its design, allowing it to function as normal and provide warmth close to the body once the vehicle is moving.
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Who Are the Fastest-Growing Companies in the Automotive Seat Belts Industry?
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.
What Is the Regional Outlook for the Automotive Seat Belts Market by 2029?
Asia-Pacific was the largest region in the automotive seat belts market in 2024. 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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