The Global Active Seat BeltSystem Market size is estimated to be USD 11.51 billion in 2019 and ispredicted to reach USD 20.74 billion by 2030 with a CAGR of 5.5% during theforecast period.
Seat belt is a safety system that is used to ensure the occupant’ssafety in emergency situations as it keeps the occupants at its place. Theactive seat belts system is much similar to the conventional seat belt systembut integrated with advanced technology. It automatically detects the threatand tightens the seat belt to provide additional safety. These systems areinstalled with pre-crash electronic control units linked with pretensions’.
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The global active seat belt system market report is segmented on thebasis of type, component, application, and region. Based on type, the market isclassified into two-point belts, three-point belts, four-point belts,five-point belts, six-point belts, and seven-point belts. On the basis ofcomponent, the market is categorized into retractors, pretensioners, and bucklelifters. On the basis of application, the active seat belt system market isbifurcated into passenger cars and commercial vehicle. Region wise, the marketis studied across North America, Europe, Asia-Pacific, and RoW, which arefurther segmented into major countries such as the U.S., the UK, France, andothers.
The active seat belt system market is primarily driven by constantexpansion of the automotive industry followed by technological advancement.Moreover, rapid integration of technology and rise in safety concerns due toincrease in number of road accidents fuel the market growth. In addition,stringent regulatory policies by government to ensure vehicle safety and growthin demand for premium vehicles by consumers due to rise in disposable incomeboost the growth of the active seat belt system market. Furthermore, rise inmarket investments & development of infrastructure is also expected tocontribute toward the market growth. However, high cost of active seat beltssystem and lack of skilled workforce for installation restrain the marketgrowth in the near future.
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The developed regions including North America and Europe are expected tohold the major market share, owing to the presence of major market players andsurge in market investments in these regions. In addition, technologicaladvancement with stringent regulatory policies to ensure safety is anticipatedto drive the market growth. Asia-Pacific is expected to dominate the activeseat belt system market in terms of growth rate, owing to surge in passengervehicle and increase in number of road accidents. In addition, rise indisposable income as well as constant expansion of automotive industry withhigh adoption rate of advanced technology are expected to boost the overallgrowth of the active seat belt systems market.
The major market players profiled in the active seat belt system marketincludes Continental AG, Hyundai Mobis, Takata Corporation, Iron ForceIndustrial, ITW Automotive Products GmbH, Special Devices Inc., Key SafetySystems, Autoliv Inc., Far Europe Inc., Robert Bosch GmbH, Denso Corporation, TokaiRika, and ZF TRW, among others.
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