APAC Automotive seatbelts market growth is propelled by rising cases of road fatalities and surging passenger vehicle sales. According to reliable reports, in India, a whopping 75% of passenger vehicle drivers do not use seat belts, causing around 15 deaths per day. While the Ministry of Road Transport and Highway report cite that, in 2016, a total of 5,638 people died on road due to non-usage of seat belts. With stringent government regulation and introduction of advanced seat belt reminding technologies, the regional automotive seat belts industry is slated to record significant growth over the forecast period.
North America dominates the Automotive seatbelts market over the forecast timeframe owing to huge presence of automobile manufacturers including General Motors, Fiat Chrysler Automobiles Ford, etc. The adoption of seatbelt is higher owing to technological advancements and the supportive U.S. government regulations. The government is encouraging implementation of a seatbelt for vehicle occupant’s safety boosting the Automotive seatbelts market . Asia Pacific will experience high growth owing to the increasing number of vehicles sales and business expansion of leading automobile manufacturers.
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Technological developments is expected to promote the Automotive seatbelts market growth. The advancements in seatbelts such as inflated seatbelts that provides higher safety by giving the instant protection to rear passenger increases the industry demand. This new technology enables seatbelt to act as small airbag for providing protection to fragile bones of rear seat passengers including children and adults, who are more vulnerable to head, neck and chest injuries.
The proliferating demand for 3-point seat belt is attributed to its benefits over the 2-point seat belt. The 3-point seat belt provides better protection for front and rear passenger. It covers the waist and shoulder area of the occupant that keeps the passenger body straight and reduce the gravitational force impact at the time of collision. The greater safety features encourage the usage of Automotive seatbelts market growth.
Passenger vehicle segment holds significant market share owing to rising adoption of cars and increasing customer preference towards safety features. Decrease slack and pretensioners tighten in seatbelts to protect passenger from rapidly moving forward in the event of a collision reduces the risk of injury. Also, the legal requirements for the right sized seatbelt in cars for the children from birth to 16 years enhance the car’s safety features.
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Key industry participants in the Automotive seatbelts market include Autoliv Inc., ZF Friedrichshafen AG, GWR Co, Goradia Industries, Takata, Ashimori Industry, Co., Ltd, BK Seat Belt, etc. The industry players adopting strategies include partnerships and joint venture, mergers and acquisition, and new product launches to increase their market share. For instance, in September 2018, ZF Friedrichshafen AG launched the Active Control Retractor Seat Belt System that is designed to tighten the seatbelt and provide safety to vehicle occupants. The new product enhances the company product portfolio and attracts new customers.
Chapter 3. Automotive Seatbelt Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2025
3.3. Industry ecosystem analysis
3.3.1. Component Suppliers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Technology Landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.3. Asia Pacific
3.5.4. Latin America
Chapter 4. Automotive seatbelts market , By Type
4.1. Global Automotive seatbelts market share by type, 2018 & 2025
18.104.22.168. Market estimates and forecast, 2013-2025
22.214.171.124. Market estimates and forecast, by region, 2013-2025
126.96.36.199. Market estimates and forecast, 2013-2025
188.8.131.52. Market estimates and forecast, by region, 2013-2025
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