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% from 2020-2030. Seat Belt is a safety system which is used in the vehicles to ensure the safety of the occupants normally and in emergency situations. The effectiveness of the seat belt systems are enhanced by the airbags as the seat belts ensure the correct position and airbags ensure the effective safety. Active seat belts systems are similar to normal seat belts but consist of advanced technology to automatically detect the threat such as collisions, accidents and tighten the seat belts for better safety of occupants.
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There is a constant increase in the safety features of the vehicles and increase in the road accidents has increased the demand for active seat belt systems over the period of time. Furthermore, technological advancement coupled with the increased adoption of advanced technology has fueled the growth of active seat belt system market over the forecast period.
The other factors such as stringent regulatory norms for the safety and increased adoption of the premium vehicles are expected to drive the growth of the active seat belt system market. However, the high costs of these systems are expected to affect the growth of active seat belt system market. On the other hand, the increased use of sensors and constant development in the existing technology is expected to create ample opportunities in the market over the forecast period.
Market Segmentations and Scope of the Study:
The global active seat belt system share is analyzed on the basis of type, component, application and geography. On the basis of type, the market is segmented 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 divided into Retractors, Pretensioners, and Buckle Lifters. On the basis of application, the market is segmented into Passenger Cars and Commercial Vehicles Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America denotes a higher adoption of the active seat belt system and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including increased adoption of advanced technology coupled with the increased use of premium vehicles and stringent regulatory policies regarding safety.
It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to increasing accessibility to advanced technology and increased awareness regarding consumer safety and constant development in the existing technology.
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The active seat belt system is competitive and fragmented in nature and also consists of a various market players. Some of the major market players include, 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.
Over the period of time there has been various developments taking place in the active seat belt system market which are promoting the growth of active seat belt systems market. For instance, in March 2019, ZF Friedrichshafen AG is researching on the seat belt and airbags that will be integrated in the seat itself and create a kind of safety cell in the car that moves with the occupants sitting in unconventional positions.