Passenger vehicle segment holds significant automotive seat belts 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 cars safety features.
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North America dominates the automotive seat belts 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 seat belts market. Asia Pacific will experience high growth owing to the increasing number of vehicles sales and business expansion of leading automobile manufacturers.
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 seat belts market growth.
Increasing OEM automotive seat belts market attributed to supportive government regulations and standards. The government mandates the traffic rules for citizens impacting the rising demand for the automotive seat belts. The OEM are producing high flexibility, quality and reliability seatbelts to content the government compliance including German MPA, German Federal Motor Transport Authority (KBA), the Spanish (UCA), and to offer greater safety to customers.
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Growing automotive seat belts market demand owing to increasing awareness about the passenger safety and traffic regulations. The safety features provided by automotive seatbelt reduces the risk of high injury and minimize the fatality rate. It gives protection to head, chest, and extremities while collision, thus providing safety to passengers.
Increasing demand of webbing strap for a vehicle attributes to its superior strength, stretch and high breaking strength. The manufacturers are using webbing straps to hold the passenger and driver at a place during the crash and reduce potential injury. The advancement in webbing strap such as lighter belts and low friction finish encouraging the webbing strap demand.
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Key industry participants in the automotive seat belts 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.