Automotive Seat Belts Market Share, Growth, Industry Research Report, 2017 - 2024: Global Market Insights Inc.

The global Automotive Seat Belts Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers. Increasing awareness about safety, government initiatives to improve safety while driving, increasing demand for automobiles in developing regions, and strict traffic rules are the major driving forces for the automotive seat belts market share.

Increasing number of vehicle accidents has improved the awareness about driver & passenger safety, which has driven the demand for including safety belts in automobiles. Strict traffic rules for using safety systems are fueling the demand for the industry.

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The introduction of V2V communication and safety systems, such as ADAS, create the need for advanced technology in automotive seat belt systems. The technological advancements include inflatable seat belts, which are developed to provide the protection to occupants’ in the second and third-row seating. This product reduces the intensity of injury by distributing crash force energy across than to the occupant’s body.

By technology, the industry is classified as pretensioner, bag in belt, retractor, active seat belt, seat belt reminder system, and load limiter. Pretensioner acquired the largest share in 2016 owing to high reliability and effective performance. The growth of bag in belt segment is affected by the technical failure of the system. Seat belt reminder and load limiter protect occupants from injuries associated with the product.

Latin America and the Middle East & Africa are expected to witness an increased demand for vehicles owing to the growing automobile industry and increasing investments by overseas companies in these regions. In the MEA, expanding luxury vehicle market will stimulate the vehicle accessory market during the forecast period.

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Some of the companies in automotive seat belts market are Takata Corporation, ZF TRW Automotive Holdings Corporation, Autoliv AB, Hyundai Mobis Co., Ltd., Toyoda Gosei Co., Ltd., Continental AG, Tokai Rika Co., Ltd., Robert Bosch GmbH, Denso Corporation, Key Safety Systems, Inc., and Delphi Automotive Plc. The recall of the product due to technical failure is the prime concern of the manufacturers. The companies are developing and testing the products against critical accidents to ensure the compliance with the safety regulations. Long-term contracts with automakers and new technology inclusion are the growth strategies adopted by the manufacturers to retain the market share.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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