The Global Active Seat Belt System Market size is estimated to be USD 11.51 billion in 2019 and is predicted to reach USD 20.74 billion by 2030 with a CAGR of 5.5% during the forecast period.
Seat belt is a safety system that is used to ensure the occupant’s safety in emergency situations as it keeps the occupants at its place. The active seat belts system is much similar to the conventional seat belt system but integrated with advanced technology. It automatically detects the threat and tightens the seat belt to provide additional safety. These systems are installed with pre-crash electronic control units linked with pretensions’.
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The global active seat belt system market report is segmented on the basis of type, component, application, and region. Based on type, the market is classified into two-point belts, three-point belts, four-point belts, five-point belts, six-point belts, and seven-point belts. On the basis of component, the market is categorized into retractors, pretensioners, and buckle lifters. On the basis of application, the active seat belt system market is bifurcated into passenger cars and commercial vehicle. Region wise, the market is studied across North America, Europe, Asia-Pacific, and RoW, which are further segmented into major countries such as the U.S., the UK, France, and others.
The active seat belt system market is primarily driven by constant expansion of the automotive industry followed by technological advancement. Moreover, rapid integration of technology and rise in safety concerns due to increase in number of road accidents fuel the market growth. In addition, stringent regulatory policies by government to ensure vehicle safety and growth in demand for premium vehicles by consumers due to rise in disposable income boost the growth of the active seat belt system market. Furthermore, rise in market investments & development of infrastructure is also expected to contribute toward the market growth. However, high cost of active seat belts system and lack of skilled workforce for installation restrain the market growth in the near future.
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The developed regions including North America and Europe are expected to hold the major market share, owing to the presence of major market players and surge in market investments in these regions. In addition, technological advancement with stringent regulatory policies to ensure safety is anticipated to drive the market growth. Asia-Pacific is expected to dominate the active seat belt system market in terms of growth rate, owing to surge in passenger vehicle and increase in number of road accidents. In addition, rise in disposable income as well as constant expansion of automotive industry with high adoption rate of advanced technology are expected to boost the overall growth of the active seat belt systems market.
The major market players profiled in the active seat belt system market includes Continental AG, Hyundai Mobis, Takata Corporation, Iron Force Industrial, ITW Automotive Products GmbH, Special Devices Inc., Key Safety Systems, Autoliv Inc., Far Europe Inc., Robert Bosch GmbH, Denso Corporation, Tokai Rika, and ZF TRW, among others.
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