Automotive Seat Belts Market

Automotive Seat Belts Market

Growth Factors of Automotive Seat Belt Market

The Automotive Seat Belt market size was valued at USD 14.53 billion in 2023, and the market is now projected to grow from USD 15.37 billion in 2024 to USD 22.56 billion by 2032, exhibiting a CAGR of 4.9% during the forecast period of 2024-2032.

The automotive industry was raised high difficult times within the very early months of the global COVID-19 havoc. The impacts started in China, where deals dove 71 percent in February 2020; by April, deals had dropped 47 percent within the United States and plunged 80 percent in Europe. But the industry's motors never halted running, and cars and trucks have come thundering back. From the third quarter of 2020 through the primary quarter of 2021, automakers around the world have seen fast development in the automotive seat belt market growth.

Rising advent of the mechanically progressed inflatable seat belts is expanding in both modest and developing nations and the market is anticipated to get nurture due to the rising request for extravagance vehicles. These belts act as scaled down airbags to ensure rear seat inhabitants within the occasion of a mishap and anticipate head wounds from front seats. In expansion, it acts as a pad for delicate bones in grown-ups and children, making a difference anticipate collarbone fractures and fractures in other zones. With the rise of request for introducing inflatable situate belts in traveler vehicles, particularly in numerous up and coming models and extravagance vehicles, is anticipated to drive the advertise development amid the figure period.

Given the provoking number of activity mishap casualties around the world, governments have presented strict rules for wearing automotive seat belts. High-profile street mischances frequently lead to expanded open mindfulness around street security and the significance of wearing situate belts. As a result, there's an increased emphasis on implementing seat belt utilization laws and advancing security measures, which drives the request for situate belts. Driving companies are creating progressed advances such as reminding drivers to affix their situate belts whereas driving. These components are driving the showcase development.

Comprehensive Analysis of Automotive Seat Belt Market

On the market analysis of type the automotive seat belt are portioned into three-point and five-point. The three-point portion ruled the market in the year 2023 and is assessed to extend at a sound CAGR development. By the distribution channel, the marketplace is categorized into OEM and aftermarket. The OEM section rules the dispersion channel portion within the market. On the foundation of the sort of vehicles, the market is sectioned into traveler cars and commercial vehicles. The traveler cars fragment is anticipated to overwhelm the market.

Asia Pacific continent with a valuation of 5.64 billion is anticipated to overwhelm the automotive seat belt market share over the estimate period in terms of esteem and volume due to expanded vehicle generation and deals in creating nations such as China, India, and Japan. The Provoked demand for luxury vehicles in nations such as Japan will encourage propel the market development.

Noticeable market players are effectively making progressed arrangements to cater to client demands. They are moreover centering on improving their existing item portfolios to convey adaptable arrangements with unique properties. Besides, these organizations are proactively seeking after collaborations, acquisitions, and organizations to support their product offerings. List of Key Companies Profiled are GWR Safety Systems (U.S.), Autoliv. Inc. (Sweden), Robert Bosch GmbH (Germany), Ashimori Industry Co. Ltd. (Japan), AB Volvo (Sweden), Joyson Safety Systems (U.S.), Hyundai Mobis (South Korea) and many more major companies.

In between the month of May 2023, the company NIO, a Chinese EV producer, entered into an assentation with Autoliv, the world's biggest producer of airbags and seat belts to fabricate security items for electric vehicles. This improvement of security advances will increment the demand for situate belts as the airbag arrangement works as it were when the seat belts are intact.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.9% from 2024 to 2032

Unit Value (USD Billion) and Volume (Thousand Units)

Segmentation By Seat Belt Type

Three-point

Five-point

By Distribution Channel

OEM

Aftermarket

By Vehicle Type

Passenger Cars

Commercial Vehicles

By Region

North America (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type, By Country)

• U.S. (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• Canada (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• Mexico (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)

Europe (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type, By Country)

• U.K. (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• Germany (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• France (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• Rest of Europe (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)

Asia Pacific (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type, By Country)

• China (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• Japan (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• India (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)
• Rest of APAC (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)

Rest of the World (By Seat Belt Type, By Distribution Channel Type, By Vehicle Type)


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