Industry Background:
The global automotive seatbelt market is expected to witness high demand in the forecasted period due to growing awareness regarding safety and strict traffic rules. The automotive seatbelt is an automotive safety device that is designed to secure the driver or a passenger of a vehicle against harmful movement that may result during a collision or a sudden stop. and Government initiatives to promote the importance of seat belts are expected to play a vital role in augmenting demand and the high occurrence of road accidents worldwide is expected to drive the market over the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Autoliv AB (Sweden), ZF TRW Automotive Holdings Corp. (United States), Takata Corporation (Japan), Tokai Rika Co. Ltd. (Japan), Key Safety Systems (United States), Hyundai Mobis Co. Ltd. (South Korea), Berger Group (United States), Ashimori Industry (Japan), Beam's Seatbelts (United States) and TRW Automotive (United States) |
This growth is primarily driven by Growing Production Of Vehicles and Increasing Demand for Passenger Vehicles.
Globally, a noticeable market trend is evident Stringent Government Norms Regarding Automotive Standards
The Auto Parts & Equipment sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Autoliv AB (Sweden), ZF TRW Automotive Holdings Corp. (United States), Takata Corporation (Japan), Tokai Rika Co. Ltd. (Japan), Key Safety Systems (United States), Hyundai Mobis Co. Ltd. (South Korea), Berger Group (United States), Ashimori Industry (Japan), Beam's Seatbelts (United States) and TRW Automotive (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global automotive seatbelt market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability.
Key Developments in the Market:
In December 2021, ZF increased its stake, becoming a 51% majority shareholder in the Rane Group's Rane TRW Steering Systems joint venture. To date, both partners have held equal shares in the company, which employs approximately 3400 people. Going forward, the joint venture will operate in the market under the name ZF Rane Automotive India. The name change reflects increased collaboration between partners.
On 25th September 2018, ZF TRW Automotive Holdings Corp. has releases New Active Control Retractor Seat Belt System. ZF is beginning volume production of its next-generation Active Control Retractor the ACR8. ACR8 combines active and passive vehicle safety, and is designed to tighten the seat belt in critical situations in advance of a potential impact.
Influencing Trend:
Stringent Government Norms Regarding Automotive Standards and Upsurging Automotive Sector across the World
Market Growth Drivers:
Growing Production Of Vehicles and Increasing Demand for Passenger Vehicles
Challenges:
High Implementation Cost
Restraints:
Rising Cost of the Automotive Seat Belt
Opportunities:
Increasing Investment in Automotive Seat Belt Manufacturing Companies and Upsurging Demand due to Innovation and Technological Advancement
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Seat Belt Market
- Analysis about New Entrants in Automotive Seat Belt Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Seat Belt Study Sheds Light on
The Automotive Seat Belt Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Seat Belt industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Seat Belt industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.