Europe Automotive Webbing Market Size, Share & Trends Analysis Report By Region (Germany, France, U.K., Spain, Italy, Russia), And Segment Forecasts, 2023 - 2030

Europe Automotive Webbing Market Size, Share & Trends Analysis Report By Region (Germany, France, U.K., Spain, Italy, Russia), And Segment Forecasts, 2023 - 2030

Europe Automotive Webbing Market Growth & Trends

The Europe automotive webbing market size is expected to reach USD 197.2 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2023 to 2030. The growth is attributed to the increasing demand for webbing in automotive applications for manufacturing seatbelts, battery die-down straps, push & pull straps, and boot lining assemblies.

Rising technological advancements and the availability of a wide array of customizations, such as color and size, in the webbing offered by several key players, are further fueling the growth. For instance, Elastic-Berger GmbH & Co. KG is engaged in manufacturing various types of seatbelts providing integrated microphones for voice recognition. Apart from the usage of the product in seatbelts, the webbing is also used in a multitude of applications in vehicles, including airbag tethers, battery holders, car mat bindings, door tethers, and boot lining assemblies, among others.

Rapid advancements in the use of high-performance raw materials to produce automotive webbing are significantly adding value to these products. Raw materials used for manufacturing webbing include polyesters, cotton, nylon, polypropylene, carbon fiber, ultra-high molecular weight polyethylene (UHMWP), Dyneema (DSM), and Kevlar (DuPont).

The majority of the raw material suppliers have been entering into strategic tie-ups with other manufacturers. These include resource and technology sharing, which also involves expanding production facilities to fulfill the demand-supply gap in the market. This also plays an important role in maintaining their prime position as a supplier in the value chain.

The application industries procure webbing and related products from manufacturers through a distribution or supply channel. Since the line follows business-to-business product procurement, the presence of small regional players and distribution centers is eliminated in the process. This helps the manufacturers maintain a long-term business relationship with end-users, which readily reduces operating costs.

The industry is fragmented in nature and is highly competitive owing to the presence of a large number of players in the market. The companies in the market are focused on R&D investments to improve product strength, durability, and quality, and reduce product weight. Product strength with higher safety standards is the key factor that offers a competitive advantage to the industry participants. The companies in the market use mergers and product contract strategies to strengthen their position in the competitive market.

Europe Automotive Webbing Market Report Highlights

• Germany dominated the market with a volume of 5.8 kilotons in 2022 and is expected to grow at a volume-based CAGR of over 2.0% during the forecast period. Increasing investments by prominent vehicle manufacturers in the country are anticipated to create a wide scope for growth. Furthermore, rising demand for high-end, luxury cars from domestic consumers in the country is anticipated to be a key factor driving the demand for webbing products in Germany
• The Russia automotive webbing market is expected to grow at a revenue-based CAGR of 6.3% over the forecast period, due to the increasing application of webbing components in passenger cars, luxury cars, light commercial vehicles, and mini trucks. Additionally, automotive production in the country is anticipated to increase owing to the growing demand from domestic and international markets. Automotive production is likely to witness increasing investments by multinational vehicle manufacturers owing to favorable policies and easy trade regulations in the country
• The Europe automotive webbing industry is consolidated owing to the presence of limited numbers of manufacturers. Furthermore, the companies focus on R&D of new types of automotive webbing with high mechanical strength, tensile strength, high abrasion resistance, and long lives to gain a competitive edge over one another. Additionally, strategies adopted by the key market players usually include product portfolio expansion, technology innovation, and geographical expansion of business

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