Automotive Seatbelt Retractor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive Seatbelt Retractor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive Seatbelt Retractor Market

The automotive seatbelt retractor market size was valued at USD 7.22 billion in 2020, and the market is now projected to grow from USD 7.53 billion in 2021 to USD 11.87 billion by 2028, exhibiting a CAGR of 6.72% during the forecast period of 2020-2028.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the automotive seatbelt retractor market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic. Production facilities throughout the nations have been hindered by the abrupt lockdown. The pandemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this.

A rise in car manufacturing and sales will create a favorable trend for market expansion during forecast period. In premium and mid-class passenger cars, seatbelt retractor mechanisms are standard. Furthermore, it is anticipated that the need for automobile retractors would rise sharply as more models and new vehicle types hit the market. Likewise, there will be a rise in demand for car seats worldwide.

Growing consumer knowledge of vehicle safety and increasing the use of lightweight seatbelt retractors in vehicles to benefit the automotive seatbelt retractor market growth during forecast period. Consumers are prepared to shell out a lot of money for new safety features and systems in cars. Technology is the key component that motivates people to buy safety measures. Factors including comfort, safety, and credibility will affect consumers' decisions to buy. Furthermore, major nations are seeing a sharp rise in demand for lightweight car parts. The recently released lightweight belt retractor, which uses plastic pistons rather than the more traditional metal ones, is an example of this trend in retractor technology.

Comprehensive Analysis of Automotive Seatbelt Retractor Market

The automotive seatbelt retractor market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by Technology Type and by Vehicle Type. The Technology Type segmentations include Automatic Locking Retractor, Emergency Locking Retractor, Switchable Retractor, By Vehicle Type segmentations include Passenger Car, Commercial Vehicle.

The Asia Pacific region lead the automotive seatbelt retractor market by benefitting a market size of USD 4.05 billion in 2020 due to rise in car manufacturing and sales and growing consumer knowledge of vehicle safety and increasing the use of lightweight seatbelt retractors in vehicles.

The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These prominent key industry players include APV Safety Products (Australia), Joyson Safety System (U.S.), Seat Belt Solution (U.S.), Toyoda Gosei Co. Ltd (Japan), Denso Corporation (Japan), Tokai Rika Co Ltd (Japan), Continental AG (Germany), Hyundai Mobis (South Korea), ZF Friedrichshafen AG (Germany), Goradia Industries (India) these market players provide a level-playing competitive landscape.

In February 2021, General Motors will receive a driver attention system from Joyson Safety Systems (JSS), a manufacturer of mobility safety systems like airbags, seat belts, steering wheels, electronic safety systems, and child seat systems, that incorporates multiple safety features like seatbelts, airbags, and electronic safety systems for hands-free driving assistance. Driver attentiveness is measured by the Driver Attention System. This device reliably assesses a driver's level of attention by detecting their head posture and eye contact.

Segmentation Table

ATTRIBUTE DETAILS

Study Period2017-2028

Base Year2020

Estimated Year 2021

Forecast Period2017-2028

Historical Period2017-2019

UnitValue (USD Billion)

SegmentationBy Technology Type

Emergency Locking Retractor

Automatic Locking Retractor

Swichtable Locking Retrcator

By Vehicle Type

Passenger Vehicle

Commercial Vehicle

By Geography

North America (By Technology Type, By Vehicle Type)

U.S. (By Vehicle Type)

Canada (By Vehicle Type)

Mexico (By Vehicle Type)

Europe ( By Technology Type, By Vehicle Type )

U.K. (By Vehicle Type)

Germany (By Vehicle Type)

France (By Vehicle Type)

Rest of Europe (By Vehicle Type)

Asia Pacific ( By Technology Type, By Vehicle Type )

China (By Vehicle Type)

Japan (By Vehicle Type)

India (By Vehicle Type)

Rest of APAC (By Vehicle Type)

Rest of the World ( By Technology Type, By Vehicle Type )

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