Automotive Seat Belts Market Regional Analysis & Growth Forecast To 2026

The automotive seat belts market is set to grow from its current market value of more than USD 21.4 billion to over USD 22.5 billion, increasing adoption of passenger vehicles across the globe. Additionally, rising awareness about passenger safety and the introduction of numerous regulations as well as awareness programs globally, would also positively influence the industry growth over the coming years.

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Meanwhile, ongoing technological advancements in the automotive seat belts to improve convenience while providing greater level of safety is actively shaping the market landscape. Taking Mar 2019 for instance, Tool Inc., a US-based product design and development firm, with support from the National Highway Traffic Safety Administration, developed ALR (Automatic Locking Retractor), a seatbelt design with a safety feature mainly to hold a child’s car seat at its place. During misuse conditions, like a child pulling a seatbelt all the way out, the device activates and locks the seatbelt at a place and tightens it till its reset by feeding the belt back into the retractor.

On the regional front, the mandatory implementation of seatbelts for rear and front-seat passengers made by the regulatory authority is driving the Europe automotive seat belts market share. Moreover, the retrofit regulation imposed across countries like Italy should positively impel the regional share over the analysis period. An upsurge in regional vehicle sales coupled with increasing development of innovative seat belts throughout the region is expected to further foster the market share in Europe.

Apart from Europe, a number of stringent road safety regulations introduced across other nations are also likely to drive the demand for automotive seatbelts majorly. Taking July 2019 for instance, the Government of India passed a new law according to which people not wearing seatbelts would be charged with heavy penalties. The nation also imposed a few other rules for driver and passenger safety.

In terms of type, the automotive seat belts market is bifurcated into 3 point seatbelts, and 2 point seatbelts. Greater flexibility and easier operation offered by the 3 point seatbelts is expected to drive their demand over the forthcoming years. In addition, better suitability, and safety coupled with an inertia locking belt retractor mechanism would majorly propel the segment share over the coming years. Moreover, these belts offer the best protection and effectively reduce injuries in passengers on the center rear seat in light passenger and commercial vehicles, which is increasing their adoption in the automotive industry.

With respect to vehicle, the automotive seat belts market is bifurcated into heavy commercial vehicles, light commercial vehicles, and passenger cars. Of these, the industry would observe tremendous adoption in heavy commercial vehicles, majorly due to the expanding logistics sector globally. In addition, stringent government rules and regulations are likely to play a major role in fostering segment growth through the forthcoming timeframe. Citing an instance, in 2016, the U.S. Federal Motor Carrier Safety Administration made seatbelts mandatory for passengers and drivers in HCVs, offering a key factor for the increasing product demand.

The competitive landscape of the global automotive seat belts market is inclusive of players such as Toyoda Gosei, ZF TRW, Takata Corporation, Tokai Rika, Goradia Industries, Hyundai Mobis, GWR Co., BK Seat Belt, Autoliv AB, and Ashimori among others.

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Partial Chapter of the Table of Content

Chapter 2 Executive Summary

2.1    Automotive seat belts market 3600 synopsis, 2016 - 2026

2.1.1    Business trends

2.1.2    Type trends

2.1.3    Vehicle trends

2.1.4    Component trends

2.1.5    Distribution channel trends

2.1.6    Regional trends

Chapter 3 Automotive Seat Belts Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2026

3.3    Industry ecosystem analysis

3.4    Technology Landscape

3.5    Regulatory landscape

3.5.1    North America

3.5.2    Europe

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    Middle East & Africa

3.6    Pricing Analysis

3.7    Industry impact forces

3.7.1    Growth drivers, by region

3.7.2    Industry pitfalls & challenges

3.8    Innovation and sustainability

3.9    Growth potential analysis, 2019

3.10    Porter’s analysis

3.11    Competitive landscape, 2019

3.12    Automotive seat belts market PESTLE analysis

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