Active Seat Belt Market is anticipated to rise at a CAGR of 3.37% from 2020 to 2

Posted by omkar on October 9th, 2019

The Active Seat Belt System market was valued at ,655.7 million in 2018, and is projected to reach ,784.9 million by 2026 growing at a CAGR of 3.37% from 2019 to 2026.

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A seat belt is a safety system widely used in vehicles to ensure safety of its occupants on sudden application of brakes or collision. This safety component keeps the occupant fastened to his or her seat and avoids fatal injuries that may result from collision or toppling of a vehicle. The effectiveness of the seat belt is enhanced by the presence of air bags in a vehicle. The main purpose of a seat belt is to ensure the correct position of occupants for maximum effectiveness of air bags. Active seat belts are the same as the traditional seat belts, but with advanced technology that automatically detects threats, such as collisions, and tighten the seat belt to provide better safety precautions. These seat belts are connected with a pre-crash electronic control unit (ECU) installed in the vehicle or directly attached to pretensioners. These pretensioners are tuned with specific movements of the vehicle, thereby enhancing the functioning of active seat belts.

Increasing the awareness of consumer towards automotive safety coupled with rise in accident incidence are likely to drive the demand of this market. Also, an increase in automotive safety norms is also expected to foster the market growth during the forecast years. Additionally, huge requirement of luxury vehicles in developing countries helps to grow the market at fast pace. Lastly, high cost of active seat belts may hinder the growth of Active Seat Belt System market.

The global Active Seat Belt System market is segmented based on component, application, and region. On the basis of component, the market is classified into Retractors, Pretensioners and Buckle lifters. According to applications, it is divided into Passenger cars and Commercial vehicles. Geographic breakdown and deep analysis of each of the aforementioned segments is included for North America, Europe, Asia-Pacific, and ROW.

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Comprehensive competitive analysis and profiles of the major market players such as Autoliv, Inc., Continental Corporation, DENSO Corporation, Far Europe Holding Limited, Hyundai Mobis Co., Ltd., Ningbo Joyson Electronics Corp. (Key Safety Systems, Inc.), Takata Corporation, Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd.,ZF Friedrichshafen AG