Seatbelt Retractor Market: Overview
Seatbelts are extremely important components of an automobile from the safety point of view. In times of accidents, seatbelts can prove to be life saviors. It is advisable to the drivers as well as passengers to wear the seatbelts while driving because seatbelts act as safeguards at the time of accidents. The work of a seatbelt retractor is to store the webbing that is not being used and at the time of a crash, lock the webbing. Modern retractors consist of two types of independent sensors, which are vehicle sensors and webbing sensors. These sensors ensure high reliability. A spool is present as a central element in the seatbelt retractor assembly. At one end of the webbing, spindle (or spool) is attached. Spring is used to provide the rotational force. This spring is present inside the seatbelt retractor assembly. Any loose webbing is wound up by the spindle with the help of the spring that rotates the spindle. When the webbing is pulled out. The spindle rotates in the anti-clockwise direction, and hence the spring rotates in the same direction. In short, the spring is untwisted by the rotating spool. The spring resists this twisting motion as it tries to return to its original shape. The spindle rotates in the clockwise direction until the belt is tight or there is no slack left in it, and the spring tightens up when the webbing is released.
The parent market of the Global Seatbelt Retractor Market is the Global Automotive Seatbelt Market. The Global Automotive Seatbelt Market is estimated to grow at a CAGR of 3.1% in the forecast period 2017 to 2021 and reach $9.1 billion at the end of the year 2021.
Seatbelt Retractor Market: Drivers and Restraints
With increasing awareness about the automobile safety measures and the increasing demand for safety systems in the automobiles that are better than the traditional ones, the demand for seatbelt retractors is expected to go up. The rise in automotive production activities and the advancement in the technology related to the seatbelt assembly have led to the growth of Seatbelt Retractor Market. The introduction of strict safety measures as well as the standards related to the safety of the passengers and the driver in the automobile set by the governments of certain countries are also likely factors that will drive the growth of the Seatbelt Retractor Market. In recent years, compact cars have become the fastest selling segment of the automobile industry. This rise in production of the compact cars is likely to provide a boost to the Seatbelt Retractor Market. Increasing number of casualties in the road accidents worldwide is a reason for concern that will lead to growth in the Seatbelt Retractor Market in the forecast period 2017 to 2021. Also, seeing this growth, huge investments are being made in the Automotive Seatbelt Market that will eventually lead to the growth in the Seatbelt Retractor Market.
A major factor that is likely to restrain the growth of the Seatbelt Retractor Market is the high cost of the new and advanced seatbelt retractors that are soon replacing the traditional retractors in the automobiles.
Seatbelt Retractor Market: Market Segmentation
The Global Seatbelt Retractor Market is segmented on the basis of design type, vehicle type, and region type.
On the basis of the design type, the Seatbelt Retractor Market is segmented into:-
On the basis of the vehicle type, the Seatbelt Retractor Market is segmented into:-
On the basis of the region type, the Seatbelt Retractor Market is segmented into:-
Seatbelt Retractor Market: Regional Outlook
The Asia Pacific and the North America regions are expected to hold their position as the highest revenue shareholders in the Seatbelt Retractor Market in the forecast period 2017 to 2021. The Asia Pacific region owes the growth in the Seatbelt Retractor Market to the increasing cases of road accidents and implementation of the measures related to road safety. Also, the increasing demand for the production of compact cars in countries of the Asia Pacific region, such as Japan, China, and India has led to a boost in the growth of the Seatbelt Retractor Market in the Asia Pacific region. Countries like India, China, South Korea, Thailand, and Japan are the major markets for the seatbelt retractors in the Asia Pacific region. Asia Pacific region is gradually being called the hub of automobile production. Assembly plants for the seatbelts are being set up at a very fast pace in the Latin America and the Middle East regions. Owing to this factor, Latin America and the Middle East region is also expected to see a high growth rate in the Seatbelt Retractor Market in these regions. In the Europe region, Germany is a major market of seatbelt retractors. This is because of the presence of major automobile manufacturers in this region.
Seatbelt Retractor Market: Key Players
Some of the major players of the Global Seatbelt Retractor Market are:-