Automotive Seat Belt Market
Global Market Study on Automotive Seatbelts: Stricter Regulations Regarding Road Safety Boding Well for Market Expansion
Automotive Seat Belt Market Segmented By Passenger Cars, Commercial Vehicles with Two-Point Belt, Three-Point Belt, Four-Point Belt Design in Retractor, Pretensioner, Active Seat Belt, Bag-in Belt, Load Limiters, Seat Belt Reminder System Technology
About the Report
In the event of a crash, a seatbelt distributes the impact across the human body, thereby reducing the chance of any major injuries. Seatbelts also help secure passengers in place by providing safety and comfort. Seatbelts are mandatory and all car manufacturers provide cars fitted with front seatbelts.
Rising concerns regarding road safety have now paved the way for rear seatbelts as well. This has encouraged a majority of OEM and aftermarket companies to manufacture and sell rear seatbelts. This will help increase the demand and scope of seatbelts globally.
Automotive seatbelts have witnessed incremental growth in recent years. Following the effect of COVID-19, seatbelt manufacturing companies are attempting to regain their market shares. Sale and demand for vehicles decreased owing to the COVID-19 pandemic, but is expected to rise over the coming years, thereby providing scope for increased demand for automotive seatbelts.
In its latest revised study, Persistence Market Research offers insights about key factors driving demand for automotive seatbelts. The report tracks global sales in 20+ high-growth markets, which reveals that North America and East Asia lead the pecking order. It also analyzes the impact COVID-19 has had on various related industries in general, and on automotive seatbelts in particular.
Find Out More about the Report Coverage
- Ashimori Industry Co., Ltd
- Autoliv, Inc.
- Far Europe, Inc.
- APV Pty Ltd
- SCHROTH Safety Products GmbH
- Tokai Rika Co., Ltd
- ZF Friedrichshafen AG
- Joyson Safety Systems
- Fasching Salzburg GmbH
- GWR Safety Systems Inc.
- Goradia Industries
Historical Trends Vs. Future Market Outlook
As seatbelts are mandatory in all passenger and commercial vehicles, demand is expected to only increase as time goes by. High pace of urbanization and rise in the number of young working professionals are anticipated to create more demand for vehicles across regions, and thereby, automotive seatbelts.
Stringent government regulations have further helped in the growth of the market. Technological advancements and availability of new and advanced seatbelt systems are expected to boost sales even more. Rising awareness regarding road safety has created a surge in the demand for seatbelts.
Moreover, rising cases of road accidents across the world has led to growing concerns regarding road safety, thereby creating significant growth opportunities for automotive seatbelt manufacturers.
Key market players are engaged in acquisitions, expansions, and collaborations for creating a strong foothold in this landscape. These major players, for example, are acquiring regional players to expand their footprints in regional markets around the world.
The global economy displayed slower than anticipated growth in 2020. All prominent economies recorded a below average growth, despite monetary policies worldwide. Sales of automotive seatbelts during 2019-2020 was comparatively lower than other years. However, Persistence Market Research expects the global automotive seatbelt market to expand at a healthy CAGR of around 6.5 % through 2031.
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What is Aiding Demand Growth for Automotive Seatbelts?
Increase in investments on infrastructure development, especially by key market players, has played a significant role in their market growth. Establishing manufacturing plants in developing countries and investing in new technology have helped manufactures in a big way.
Rising awareness regarding rear seatbelts has provided an added opportunity for industry players. Increasing urbanization and rapid rise in the population are further aiding market expansion.
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Why is R&D Key to Market Expansion?
Key market players are investing in the research & development of automotive seatbelts to provide better and technologically enhanced safety features to users. Investments in new technology such as inflatable seatbelts have aided in the growth of the industry.
A number of companies are investing in product growth, which includes the strap material of seatbelts, weight management of the product, and developments in the technology used in seatbelts.
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Why is China a Large Market for Automotive Seatbelts?
Persistence Market Research has projected East Asia to remain one of the most lucrative markets throughout the course of the forecast period. One of the key factors supporting this is government regulations prevailing in China. Another reason is the availability of raw material at a cheaper rate, which has helped China become a market leader.
As China is the largest automotive market globally, demand for seatbelts is expected to increase.
Why Does the United States Lead the North American Region for Automotive Seatbelts?
The United States is emerging market for automotive seatbelts. Market share of the country over the forecast period is estimated to grow, and the main reason for this is its industrial development and rise in the number of vehicles, which will raise the number of installation of seatbelts across the country.
How is India Faring in the Automotive Seatbelt Landscape?
India is huge market for automotive seatbelts. The market in India is expected to expand at an incremental CAGR during 2021-2031, which is a significant rate of growth as compared to the rest of South Asia and Pacific.
Increase emphasis on safety and new technologies have led to substantial growth of the market for automotive seatbelts in India, and this trend will continue through 2031.
Why is Demand for Automotive Seatbelts in Germany the Highest in Europe?
Germany’s market for automotive seatbelt is anticipated to grow during 2021-2031. In recent years, manufacturers have been focusing on implementing new technology and improving the product line in the country. Germany has also experienced incremental growth in the retractor segment, which is making it a lucrative market for automotive seatbelts.
By Vehicle Type Which Segment Has Higher Market Share?
By vehicle type, passenger cars have the highest market share. The main reasons for this is rapidly increasing passenger vehicles on the road and increasing need to make these cars safer by installing seatbelts. Owing to the ongoing pandemic, people are preferring to travel in private cars as opposed to public transport, giving a boost to the sales of passenger cars, which has ultimately led to increased sales of seatbelts.
Why are 3-point Seatbelts Most Widely Used?
3-point seatbelts are the most widely used as far as design is concerned. This segment has the highest share of the global market. The reason for this is that it is the most suited type of seatbelt in passenger and commercial vehicles because of the features that it offers. The biggest benefit of wearing a 3-point seatbelt is that it evenly distributes the stopping force around the body's hard parts, such as the pelvis, elbows, and chest, making it the most preferred type of seatbelt in terms of design.
What Makes Retractor Seatbelts Such a Popular Technology?
Retractor seatbelt technology is the most widely used. It has the highest share of the global market. When the occupant puts the belt on or off, the retractor allows the webbing to be pulled in and out. The buckle makes it easy for the occupant to fasten the belt. This makes retractor technology one of the safest and efficient technologies, and this has led to its increased demand, especially for use in passenger cars.
The global automotive seatbelt market is fiercely competitive as well as highly consolidated. Key market players hold a significant market share, and have a global brand presence due to their adherence to government guidelines and regulations. Leading manufacturers are focusing on improving and launching new products.
- ZF Friedrichshafen
- Joyson Safety Systems
- Tokai Rika
- Far Europe
- APV Safety
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.
Scope of Report
Historical Data Available for
USD Million for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
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Market by Category
- Automotive Seatbelts for Passenger Vehicles
- Automotive Seatbelts for Commercial Vehicles
- 2-point Automotive Seatbelts
- 3-point Automotive Seatbelts
- 4-point Automotive Seatbelts
- 5-point Automotive Seatbelts
- 6-point Automotive Seatbelts
- Pretensioner Automotive Seatbelts
- Retractor Automotive Seatbelts
- Active Automotive Seatbelts
- Inflatable Automotive Seatbelts
- Load Limiter Automotive Seatbelts
- Reminder Automotive Seatbelts
- North America
- Latin America
- South Asia and pacific
- East Asia
- Middle East & Africa
Key Questions Answered in Report
- Which is the most lucrative market for automotive seatbelts?
North America, South Asia Pacific, and East Asia, because of countries such as China and India, currently lead the global market for automotive seatbelts. Sales in these countries will grow at a high CAGR throughout the forecast period.
- Which is the most popular design for automotive seatbelts?
3-point seatbelts are the most popular across the world.
- Which are some of the leading automotive seatbelt manufacturers?
Autoliv, Joyson, ZF Friedrichshafen Ag, Tokai Rika, Ashimori, Faurecia and some other companies are leading manufacturers of automotive seatbelts.
- Which trend will impact the market for automotive seatbelts?
Many manufacturers are focusing more on 3-point seatbelts and also toward retractor and pretensioner technology. Manufactures are also investing in R&D in order to make seatbelts safer than before, with the mix of design and technology improvements.