Automotive Seat Belt Market Industry Size, Business Share, and Forecast 2029

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Seatbelts help reduce the risk of injury in many types of crashes by assisting occupants in being properly positioned, while the seat belt is designed to stretch at a controlled rate to absorb impact energy and reduce the severity of the occupant’s deceleration. Seatbelts reduce the overall risk of serious injuries in crashes by about 60%, and they reduce the risk of fatalities by about 45%, according to MMR studies.

Automotive Seat Belt Market Overview:

The Automotive Seat Belt market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Automotive Seat Belt Market, as well as the reasons for variations in the industry’s growth in various locations.

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Global Automotive Seat Belt Market size was valued at US$ 15.2 Bn. in 2021 and the total revenue is expected to grow at 6.2% of CAGR through 2022 to 2029, reaching USD 24.59 Bn.

Market Scope:

Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.

Dynamics:

When it comes to avoiding collisions or minimising their effects, vehicle safety is crucial. A vehicle that complies with these safety standards is therefore less likely to seriously hurt its passengers. The automotive industry is also at a crossroads due to rising urbanisation, ongoing automotive advancements, customer demand for connectivity, and the shift to electric vehicles. The automotive industry is therefore ready to change as market dynamics change and safety standards rise. A USD 266 billion stimulus programme was announced by the Indian finance ministry for 2020 in an effort to boost and stop the decline of the auto industry.

Segmentation:

The market has been divided based on type into two-point, three-point, and various seat belt types. The three-point seat belt segment currently holds the largest automotive seat belt market share, and it is predicted that it will continue to rule the global market for the duration of the forecast. This type of belt stabilises the passenger’s upper and lower bodies while reducing injuries. In addition to providing the occupant with body support, a three-point seat belt also lessens the impact of a collision.

The segment is expected to grow more slowly during the forecast period because two-point seat belts do not provide the same level of occupant protection as two-point seat belts. However, because they are affordable, they are utilised in low-cost automobiles.

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Key Players:

Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources. The biggest players in the Automotive Seat Belt market are as follows:

• Autoliv
• ZF Friedrichshafen
• Joyson Safety Systems
• Tokai Rika
• Ashimori
• Faurecia
• Schroth
• GWR
• Goradia
• Far Europe
• APV Safety
• Fasching
• Robert Bosch
• DENSO CORPORATION
• ontinental AG,

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Regional Analysis:

Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Automotive Seat Belt market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.

COVID-19 Impact Analysis on Automotive Seat Belt Market:

Due to a break in operations, end-user sectors where Automotive Seat Belt are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive Seat Belt manufacturers, affecting the development of the Automotive Seat Belt market in 2020. End-user business demand for Automotive Seat Belt has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.

Key Questions Answered in the Automotive Seat Belt Market Report are:

  • Which segment had the largest share in the Automotive Seat Belt market in 2021?
  • What is the competitive landscape of the Automotive Seat Belt market?
  • Which are the key drivers aiding the Automotive Seat Belt market growth?
  • Which region has the maximum share in the Automotive Seat Belt market?
  • What will be the CAGR of the Automotive Seat Belt market during the forecast period (2022-2027)?

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