Global Active Seat Belt System Market to Reach $ 29,100 Million by 2026Download Sample Reports Overview
Automotive Seat Belts Market Analysis 2026:
As per research of Research Dive, Active seat belt system market forecast shall surpass $29,100.0 million by 2026, registering a healthy CAGR of 4.4% from 2019 to 2026.
Growing demand for safety from consumers, proven safety benefits active seat belt, along with norms combined with aggressive enforcement can compel the active seat belt system market growth. Stringent government regulations for safety and constant developments in automobile sector are likely to spur the active seat belt system market throughout the forecast period. For instance, Parliamentary Advisory Council for Transport Safety (PACTS) acclaims offence with three penalty points will be imposed for the occupants who are not wearing seat belts. On the other hand, high cost of retractor component of active seat belt along with expensive costs of vehicle eventually obstruct the active seat belt system market. Growing use of active seat belts in modern cars to improve safety of consumer coupled huge investment on the R&D department by significant manufacturers like ZF Friedrichshafen AG, these active seat belt system market trends are projected to create opportunities for global market throughout the forecast period. In addition, advancements such as gearlocks & interlocks along with cheat devices are anticipated to create enormous opportunities for active seat belt system industry.
Pre-tensioner segment for automotive active seat belt system market holds the highest market share amongst the component type, and is expected to register revenue of $11,785.5 million throughout the forecast period 2019-2026 growing at a CAGR of 3.9%, owing to to pre-tensioners are manufactured with advanced features such as it is connected to central control processor that activates the air bag in the critical situations.
Retractor segment for active seat belt system market size is anticipated to generate revenue of $6,780.3 million over the forecast period 2019-2026 growing at a CAGR of 5.1%, mainly owing to conventional locking mechanism of retractor.
Amongst the Application, commercial vehicles segment for Active seat belt market size, registering revenue of $5,426.3 million by the end of 2018, and is anticipated to spur at CAGR of 5.0% generating revenue of $8,002.5 million by 2026.Key factors such as product and R&D developments coupled with rising adoption for future commercial vehicles is fueling the Active Seat Belt System Market growth.
North America region has the fastest growing market for active seat belt market globally and is projected to register revenue of $3,761.2 million growing at a healthy rate of 5.5% throughout the forecast period. Rising adoption of premium vehicles such as General Motors and Lamborghini is anticipated to boost the active seat belt system market.
Significant players of active seat belt system market include Takata Corporation, Far Europe Holding Limited, Tokai Rika Co., Ltd., Autoliv, Inc., Hyundai Mobis Co Ltd;, Continental Corporation, Ningbo Joyson Electronics Corp. (Key Safety Systems, inc.), Zf Friedrichshafen Ag (Zf Trw Automotive Holdings Corp.), Denso Corporation,. To gain competitive advantage these companies are investing huge amount in R&D for devolving advanced active seat belt systems for the vehicle passengers’ safety. In addition, to explain more about the intensity of competitive rivalry among key players, the porter’s five force model is specified in this report.