Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Automotive Seat Belt Market, answers all the important questions.
Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Automotive Seat Belt Market.
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2016-2021.
The important questions the report answers are:
- What will be the market growth rate in the near future?
- What are the major developments in the market wrt regulations, acquisitions and innovations?
- What are the growth drivers as well as the constraints?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
These questions and many more, big and small, are all discussed in the report in great detail.
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
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- Vehicle Type (Compact Car, Mid-Size car, Large Car, MPV and LCV, SUV, M&HCV, Others)
- Technology Type (Retractor, Pre- Tensioner, Active Seat Belt, Load Limiter, Bag-in-Belt, Other Seat Belts)
- Application Type (Two-Point Belt, Three-Point Belt, Four-Point Belt, Five-Point Belt, Six-Point Belt, Belt-in-Seat)
- Region (North America, Europe, Asia-Pacific and RoW)
The Growth Prognosis & its Drivers
The automotive seat belt market is expected to grow at a healthy CAGR of 3.1% over the next five years to reach $9.1 billion in 2021. Increasing automotive production across the region, rising demand for better safety systems, an advancement in the seat belt technology, introduction of stringent safety standards, and increasing seat-belt usage per car are driving the global automotive seat belts market in the upcoming five years.
The Key players
The top players are Autoliv AB, ZF TRW Automotive Holdings Corp., Takata Corporation, Tokai Rika Co. Ltd., Key Safety Systems, and Hyundai Mobis Co. Ltd.
The undisputed Dominance of the Asia-Pacific
Asia-pacific tends to remain the largest automotive seat belt market during the forecast period as the region is the largest producer of automobiles. China, Japan, India, South Korea, and Thailand being the major markets. China and India are expected to remain the growth engines of the region. Both the countries are also introducing new stringent safety norms which ultimately increases the demand for seat belts in an automobile. RoW is expected to register the fastest growth during the forecast period, driven by upcoming assembly plants in the Middle East and Latin America and increasing seat belt penetration per car in the region.
Emerging Trends: The automotive seat belt market is segmented by vehicle type: Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, M&HCV and Others. Compact car is expected to remain the largest seat belt market by vehicle type in the global automotive industry during the forecast period. The vehicle type is also likely to register the fastest growth for the same period. Increasing production of compact cars, particularly in the Asia-Pacific and European regions owing to rising demand in Japan, China, India, and high congested cities in the developed markets.
Based on the seat belt application type, the automotive seat belt market is segmented as Two-Point Belt, Three-Point Belt, Four-Point Belt, Five-Point Belt, Six-Point Belt, Belt-in-Seat, and Other Seat Belts. Three-Point seat belt is expected to remain the largest global automotive seat belt type during the forecast period and is also expected to register the fastest growth for the same period. Three-Point seat belt is widely preferred across the vehicle type because of its advantage of safer journey by providing a grip diagonal as well as over the lap.
The automotive seat belt market is also segmented based on technology: Retractor, Pre-Tensioner, Active Seat Belt, Load Limiter, and Bag-in-Belt. Pre-Tensioner is the most commonly used seat belt technology and owns the largest share in the global automotive seat belt market due to its high reliability and effectiveness. Bag-in-Belt, which currently constitutes a miniscule share in the global automotive seat belt market, is likely to witness an impressive double digit growth for the same period.
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