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Abstract, Snapshot, Market Analysis & Market Definition: Automotive Seat Belts Market
Industry / Sector TrendsAutomotive Seat Belts Market size valued at USD 7 billion in 2018 and is expected to grow at over 6% CAGR from 2019 to 2025. U.S.
Market Segmentation, Outlook & Regional Insights: Automotive Seat Belts MarketAutomotive Seat Belts Market, By Type, 2018 & 2025, (USD Million) Increasing awareness regarding passenger and driver safety will drive the automotive seat belts market size over the study timeframe. The belts are highly efficient in preventing and reducing injuries in accidents. According to Australasian New Car Assessment Program (ANCAP), approximately 90% vehicle accidents involves some form of human error and seat belts increases survival chances in crash situation. Moreover, automobile manufacturers are equipping vehicles with multiple safety features thereby escalating the industry growth. Rising vehicle ownership in both developed and emerging nations is propelling the automotive seat belts market share. According to International Organization of Motor Vehicle Manufacturers (OICA), in 2017, passenger car sales increased by over 11.5% as compared to 2013. Growing vehicle sales along with proposed mandate for safety belt reminder systems in some region such as Europe will boost the market growth. Further, easy retrofitting of these systems in vehicle will support product penetration in next six years. Emergence of government legislations to reduce fatal injury cases and enhance passenger safety in enhancing the incorporation of safety system. In June 2017, Mississippi announced the compulsion to wear protective belts in car, truck, and SUV. Moreover, the regulatory are imposing penalty for non-adherence to the legislations. Such initiatives will drive the automotive seat belts market size over the study timeframe. Industry participants are upgrading the product offerings to enhance efficiency and safety. In March 2019, Tool, Inc. under Small Business Innovation Research (SBIR) program designed and developed the prototype retractors including buckle control, buckle-knob control, and buckle-button control to ensure lockability and minimizing entrapment risk in case of misuse conditions. Ongoing advancements to augment efficiency will propel the market growth. Introduction of innovative systems including V2V communications and ADAS require sensors in belts thereby supporting product demand. Advanced products such as inflatable seat belts combine seat belt and air bag technology to offer additional passive level of protection during crash. The inflatable seatbelt is developed to reduce the pressure on chest and provide more head and neck motion in rear seat passengers. Additionally, it reduces the injury intensity by distributing crash force energy across the occupants body. These developments will increase the market penetration over study timeframe.
Automotive Seat Belts Market, By Type2-point automotive seat belts market share will witness significant growth owing to availability in custom lengths, multiple colour combinations and variation such as chrome latches. Low construction cost and its implementation for rear passengers will enhance segment penetration. However, higher risk of injuries associated as compared to 3-point system will restrict segment growth in next six years. In 2018, 3-point held around 85% share of the market size owing to improved safety and superior comfort. The product offers higher strap capacity with minimum clearance. Increasing flexibility for belt adjustment for children and pregnant women will induce significant growth potential in industry landscape. Additionally, mandatory adoption of the system in passenger cars will further enhances the product demand.
Automotive Seat Belts Market, By vehiclePassenger vehicle seat belt market share will foresee strong growth owing to rising vehicle adoption and introduction of new vehicle models. Increasing consumer spending and easy finance availability are escalating vehicle ownership. The automotive industry participants are introducing upgraded vehicles with advanced safety features to serve larger consumer base. For instance, in April 2019 Renault India launched upgraded Captur model with multiple safety features including height adjustable belt and reminder. Light commercial vehicle holds significant share in the automotive seat belts market size owing to proliferating logistics industry. Increasing freight activities across the globe is generating vehicle demand. According to OICA, in 2018, LCV grew by over 5.5% as compared to 2017. Heavy commercial vehicles are at nascent stage and will showcase significant growth to reduce crash fatalities and injury severity.
Automotive Seat Belts Market, By ComponentChina Automotive Seat Belt Market, By Component, 2018, (USD Million) Webbing strap holds substantial share in the market owing to its implementation to support the person upon impact. The improved aesthetics of webbing strips along with incorporation of ultra-high-molecular-weight polyethylene and high-performance aramids will support segment penetration. Additionally, manufactures are developing heated seat belts with electric powered devices incorporated in webbing straps. Retractor will witness significant growth owing to development of new active control retractors (ACR) that enhances the passenger safety at critical situations. The ACRs combines passive and active vehicle safety that works in conjunction with autonomous emergency braking (AEB) system to keep occupant in required positions.
Automotive Seat Belts Market, By Distribution ChannelOEM dominates the automotive seat belts market size with its implementation during vehicle fabrication. The dominance can further be attributed to increasing production of vehicles coupled with mandatory requirement by several countries to incorporate products in new vehicles. New vehicle launches with advanced safety features will support the industry growth over study timeframe. The aftermarket will grow considerably in the market owing to development of low-cost seat belt technologies. For instance, in February 2016, University of Massachusetts Amherst, College of Engineering developed retrofit belt for mini-buses and coaches. The new design allows owners of vehicle to install safety belt with one third to half of original cost. Additionally, increasing replacement requirements from old age vehicles will drive the product demand.
Automotive Seat Belts Market, By RegionAsia Pacific Automotive Seat Belts Industry Size, By Country, 2025, (USD Million) Asia Pacific dominates the market size with increasing vehicle sales along with emergence of regulation to adopt 100% usage of safety belts in vehicles. Increasing vehicle manufacturing facilities across the region will drive product demand. Middle East & Africa is at nascent stage and will foresee substantial growth with adaption of luxury vehicles. North America automotive seat belts market size will witness significant growth owing to mandatory seatbelt requirement in vehicles. Development of several safety programs including 5-Star Safety Ratings Program to enhance passenger and driver safety is escalating industry growth. For instance, in May 2016, National Highway Traffic Safety Administration (NHTSA) announced testing for safety of rear seats.
Key Players, Recent Developments & Sector Viewpoints: Automotive Seat Belts MarketAutomotive seat belt market players consist of Takata Corporation, Autoliv AB, ZF TRW, Toyoda Gosei Co. Ltd., Nihon Plast, Hyundai Mobis Co. Ltd., Ashimori, and KSS. The seatbelt manufacturers are expanding their production facilities to capture growing product demand. For instance, in January 2016, Takata Corporation announced expansion of seat belt plant with USD 18 million investments. The industry participants are testing the new developed products against the stringent crash tests to ensure the compliance with the new safety regulations. The long-term contracts with automotive manufacturers and R&D investment to develop new products are the growth strategies adopted by the manufacturers to enhance the market share.
Industry ViewpointAutomotive seat belts demand is gaining momentum across the globe owing to rising awareness about passenger safety and government initiatives to minimize vehicle crash fatalities. Supervisory bodies including American Society for Testing and Materials (ASTM) and Automotive Research Association of India (ARAI) are providing safety standards for seatbelt assemblies. The development of new safety belts reminding technologies will further propel the market share over the projected timeframe.
Key Insights Covered: Exhaustive Automotive Seat Belts Market1. Market size (sales, revenue and growth rate) of Automotive Seat Belts industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Automotive Seat Belts industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Seat Belts industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Automotive Seat Belts industry.
Research Methodology: Automotive Seat Belts Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Automotive Seat Belts Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Automotive Seat Belts Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Automotive Seat Belts Production Value 2014-2025 2.1.2 Global Automotive Seat Belts Production 2014-2025 2.1.3 Global Automotive Seat Belts Capacity 2014-2025 2.1.4 Global Automotive Seat Belts Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Automotive Seat Belts Market Size CAGR of Key Regions 2.2.2 Global Automotive Seat Belts Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Automotive Seat Belts Capacity by Manufacturers 3.1.2 Global Automotive Seat Belts Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Automotive Seat Belts Revenue by Manufacturers (2014-2019) 3.2.2 Automotive Seat Belts Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Automotive Seat Belts Concentration Ratio 3.3 Automotive Seat Belts Price by Manufacturers 3.4 Key Manufacturers Automotive Seat Belts Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Automotive Seat Belts Market 3.6 Key Manufacturers Automotive Seat Belts Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...