Automotive active seat belt system market is to grow by USD 1,941.4 million from 2022 to 2027

Jan 13, 2024

NEW YORK, July 29, 2023 -- The automotive active seat belt system market is estimated to grow by USD 1,941.4 million from 2022 to 2027, growing at a CAGR of 6.3%, according to Technavio. APAC is estimated to contribute 40% to the growth of the automotive active seat belt system market during the forecast period. The market in the region is growing due to rising demand for commercial vehicles in countries such as China, Japan, South Korea, and India. In addition, the largest automotive export markets in the region include developed automotive markets such as Japan, South Korea, and Australia. Both China and India have large manufacturing industries, most of which are focused on export production. Production in these countries is facilitated by low wages, labor, raw materials, easy access to related transportation services, and the low value of local currencies. Therefore, these factors are expected to drive market growth in the region during the forecast period. For Comprehensive details on the market size of the historical period (2017 to 2021) and forecast period (2023-2027) - View the Sample report

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Vendor LandscapeThe automotive active seat belt system market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Market Dynamics

Major Drivers & Challenges

Increasing demand for luxury vehicles is a key factor driving market growth. Due to the change in customer preference, the sales of high-performance luxury vehicles are growing. In recent years demand for luxury sport utility vehicles (SUVs) has increased. This SUV is designed for off-road use and has excellent traction control on a variety of terrains. Off-road vehicles can be subject to severe impacts. Major vendors such as Continental and Autoliv offer active seat belt systems for passenger cars in the market. Hence, the increasing demand for luxury vehicles is expected to drive market growth during the forecast period.

Uncertainty in the automotive industry is a significant challenge restricting market growth. The rising costs of various raw materials for car production due to Russia's invasion of Ukraine in 2022 had a negative impact on the development of the automotive industry. Western sanctions have halted operations at some of Russia's biggest automakers, including Volkswagen, Skoda Auto, and BMW. The continued uncertainty in the automotive industry is expected to restrict market growth during the forecast period.

Key Trends

The growing integration of advanced features in automotive active seat belt systems is a major trend in the market. Seat belt manufacturers are adopting the latest technology to improve automotive safety applications and occupant protection. For example, Bosch offers integrated collision detection, which enables safety functions such as seatbelts to be activated faster and more reliably. In addition, the automaker also offers an active seatbelt system that gives haptic warnings to passengers in danger. Therefore, the growing integration of advanced features is expected to drive market growth during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The automotive active seat belt system market report includes information on the product launches, sustainability, and prospects of leading vendors including Ashimori Industry Co. Ltd., Autoliv Inc., Continental AG, Daicel Corp., DENSO Corp., E. Oppermann Mech. Gurt und Bandweberei GmbH, GWR, Hesham Industrial Solutions, Hyundai Motor Group, Infineon Technologies AG, ITW Automotive Products GmbH, Joyson Safety Systems Aschaffenburg GmbH, KSS Abhishek Safety Systems Pvt. Ltd., MG Seating Systems Pvt. Ltd., Motorlamp Auto Electrical Pvt. Ltd., Robert Bosch GmbH, Seatbelt Solutions LLC, Tokai Rika Co. Ltd, Wenzhou Far Europe Automobile Safety System Co. Ltd., and ZF Friedrichshafen AG.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Market Segmentation

The market is segmented by application (passenger cars, light commercial vehicles, and heavy commercial vehicles), type (three-point, four-point and above, and two-point), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

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Automotive Active Seat Belt System Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.3%

Market growth 2023-2027

USD 1,941.4 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.4

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 40%

Key countries

US, China, Japan, Germany, and the UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ashimori Industry Co. Ltd., Autoliv Inc., Continental AG, Daicel Corp., DENSO Corp., E. Oppermann Mech. Gurt und Bandweberei GmbH, GWR, Hesham Industrial Solutions, Hyundai Motor Group, Infineon Technologies AG, ITW Automotive Products GmbH, Joyson Safety Systems Aschaffenburg GmbH, KSS Abhishek Safety Systems Pvt. Ltd., MG Seating Systems Pvt. Ltd., Motorlamp Auto Electrical Pvt. Ltd., Robert Bosch GmbH, Seatbelt Solutions LLC, Tokai Rika Co. Ltd, Wenzhou Far Europe Automobile Safety System Co. Ltd., and ZF Friedrichshafen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio