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2022
Active Seat Belt System Market

Active Seat Belt System Market

by Component (Retractors, Pretensioners, Buckle Lifters), by Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by Sales Channel (Oem, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2030

✷  Report Code: A01987
Pages: 155
Mar 2022 | 14746 Views
Author(s) : Abhay Singh , Sonia Mutreja
Tables: 144
Charts: 57
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Active Seat Belt System Market Research, 2030

The global active seat belt system market was valued at $11.9 billion in 2020, and is projected to reach $22.3 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.

The COVID-19 pandemic has hit the business world with unprecedented scale and speed. It has caused the closures of businesses, factory outputs, and disruption to global manufacturing industries & their supply networks. The government authorities worldwide have taken strong measures to stop the spread of this new disease, such as national-wide lockdown and isolation of people at high-risk areas due to the high infectivity and destructiveness of COVID-19 suddenness of its outbreak. Owing to the continuous shutdown of manufacturing facilities and disruption of the supply chain across various parts of the world, the growth of the active seat belt system market has been hampered due to the impact on vehicle production. The majority of the manufacturing plants are shut down, municipalities are functioning slowly compared to the past, and the automotive and semiconductor industries are at a halt, negatively impacting the market. • The reduced production of automotive components due to the temporary shutdown of manufacturing plants is expected to negatively impact the growth of the market.

The active seat belts are similar to traditional seat belts however with advanced technology that automatically detect 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. The pretensioners are tuned with specific movements of the vehicle, thereby enhancing the functioning of active seat belts. The active seat belt system is activated by using data from various safety features, such as electronic stability control or brake assist systems, integrated into the vehicle. It is widely used in vehicles to ensure the safety of its occupants on the sudden application of brakes or crashes.

Active Seat Belt System Market
By Component

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Buckle Lifters is projected as the most lucrative segments

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At present, governments worldwide are increasingly focusing on implementing regulations that demand the development and incorporation of safety systems integrated with sensor systems and cameras in automobiles to improve overall safety of vehicle & passengers. For instance, in 2019, Hyundai Mobis launched a new safety technology integrated with ECUs for both electronic seatbelts & airbags that protect passengers through interworking with the autonomous driving sensor. Moreover, this safety system keeps the occupant fastened to their seat and avoids fatal injuries that may result from collision or toppling of the vehicle. Thus, modification & adoption of improved technology drives the growth of the active seat belt system market in the forecast period.

Active Seat Belt System Market
By Application

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Passenger Cars is projected as the most lucrative segments

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Factors such as increased consumer awareness towards automotive safety, rise in automotive safety norms, and high demand for luxury vehicles foster the growth of the active seat belt system market. However, the high cost of active seat belts hinders the global development of the active seat belt system market. Furthermore, biosensors as an input source for future active seat belt systems and a rise in passenger vehicle registration are the significant factors anticipated to provide a remarkable growth opportunity for the players operating in the market.

The active seat belt system market is segmented on the basis of component, application, sales channel, and region. By component, the market is categorized into retractors, pretensioners, and buckle lifters. By application, the market is bifurcated into passenger cars, light commercial vehicle, and heavy commercial vehicles. By sales channel, the market has been segmented into original equipment manufacturers (OEMs) and aftermarket. By region, it is analyzed across North America, Europe, Asia–Pacific, and LAMEA.

Active Seat Belt System Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

LAMEA would exhibit the highest CAGR of 9.0% during 2021-2030

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The major companies profiled in the active seat belt system market report include Autoliv Inc., Continental AG, DENSO Corporation, Far Europe Inc., GWR Safety Systems, Hyundai Mobis, ITW Safety, JOYSON, TOKAIRIKA, CO, LTD., and ZF Friedrichshafen AG.

    Increase in consumer awareness toward automotive safety

    Road accidents are a significant concern worldwide, especially when driving on roads with heavy traffic & terrible weather conditions. According to World Health Organization, nearly 1.25 million people die in road accidents each year. Over the past few years, the lifestyle of the consumers has become hectic with unfavorable driving protocols witnessed, such as surfing, messaging, and speaking on the phone while driving, which eventually results in automotive accidents. However, to improve the overall vehicle safety to reduce the number of collisions, governments worldwide are increasingly focusing on implementing regulations that demand the development and incorporation of safety systems integrated with sensor systems and cameras in the automobile. This will increase the demand for active seat belt systems, which will help the market to grow in the coming years. In addition, in 2019, Hyundai Mobis launched a new safety technology integrated with ECUs for both electronic seatbelts & airbags that protect passengers through interworkingwith the autonomous driving sensor. Thus, passenger vehicle registration and increased consumer awareness towards automotive safety are expected to drive the active seat belt system market.

    Surge in automotive safety norms

    The vehicle's safety plays a crucial role in averting the crash or reducing the impact. Hence, vehicles equipped with such safety standards are least likely to cause significant injury to the occupants. Furthermore, the automotive industry is at its tipping point with increased urbanization, ever-evolving developments of automotive advancements, customer demand for connectivity, and the transitions of vehicles to electric vehicles. Thus, the automotive industry is set to transform with changing market dynamics and increased safety norms. In 2020, the Finance Ministry of India proclaimed a $266 billion stimulus package to revive and lift the automotive industry's decline. In India, according to Bharat New Vehicle Safety Assessment Program (BNVSAP) program, from April 2021, front passenger airbags have become mandatory for every vehicle sold in India, driver and co-driver seat belt alarms must be active till the seats are occupied, and speed warning systems are activated at two levels; at the vehicle exceeding the speed of 80km/hr and 120km/hr. Thus, the modification & implementation of automotive safety norms drive the active seat belt system market.

    High cost of active seat belts

    Though active seat belts provide more features such as pretension, buckle lift, and enhanced safety over passive seat belts, their cost is high compared to passive seat belts. In addition, a skilled workforce is required to install the active seat belt system. These factors restrain the active seat belt system market.

    Rise in the passenger vehicle registration

    The automotive industry is racing toward a new world with growing sustainability, changing consumer behavior, encompassing electric vehicles, connected cars, mobility fleet sharing, and improving lifestyles. In June 2021, the passenger car registrations in the European Union increased by 10% compared to last year's same month. Furthermore, the demand for Special Utility Vehicles (SUVs) has surged recently due to the increased leisure and tour activities globally. In February 2022, Tata Motors announced the sale of passenger vehicles rose by 47% in the domestic market. In addition, the governments are putting pressure on the passenger car manufacturers to produce efficient and low-emission vehicles, which have intensely pressurized the latter to engage in research and development works. Thus, electric and hybrid passenger vehicles are catching the market due to their fuel efficiency and low emission. Hence, the demand for fuel-efficient passenger vehicles creates ample opportunities for active seat belt market expansion.

    Key Benefits For Stakeholders

    • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the active seat belt system market analysis from 2020 to 2030 to identify the prevailing active seat belt system market opportunities.
    • The market research is offered along with information related to key drivers, restraints, and opportunities.
    • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
    • In-depth analysis of the active seat belt system market segmentation assists to determine the prevailing market opportunities.
    • Major countries in each region are mapped according to their revenue contribution to the global market.
    • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
    • The report includes the analysis of the regional as well as global active seat belt system market trends, key players, market segments, application areas, and market growth strategies.

    Active Seat Belt System Market Report Highlights

    Aspects Details
    By Component
    • Retractors
    • Pretensioners
    • Buckle Lifters
    By Application
    • Passenger Cars
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles
    By Sales Channel
    • Oem
    • Aftermarket
    By Region
    • North America  (U.S., Canada, Mexico)
    • Europe  (U.K., Germany, France, Spain, Russia, Italy, Rest of Europe)
    • Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
    • LAMEA  (Latin America, Middle East, Africa)
    Key Market Players Autoliv Inc., continental ag, DENSO CORPORATION, Far Europe Inc., GWR Safety Systems, Hyundai Mobis Co Ltd, itw safety components mexico, joyson group, TOKAIRIKA, CO, LTD, ZF Friedrichshafen AG
     

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    The current business scenario experiences a higher potential for global active seat belt systems manufacturers. In accordance with the insights of the CXOs of leading companies, the active seat belt system market is highly competitive & is expected to witness significant growth in the near future owing to an increase in automotive safety norms & regulations, growth in consumer awareness toward automotive safety, rise in demand for luxury vehicles, and high incidence of road accidents.

    According to insights gathered from primary sources, key market players have adopted efficient techniques to develop innovative solutions, such as implementing biosensors as an input source for future active seat belt systems. Furthermore, the growth in the number of vehicle production of luxury vehicles and the availability of multiple options provided by semi-luxury vehicles with more advanced features present opportunities for the active seat belt system market globally. At present, active seat belts are used along with airbags to enhance their performance. For instance, in 2018, ZF Friedrichshafen AG launched a new active control retractor ACR8 based on the SPR8 seat belt retractor pretensioner product family that can vibrate to warn drivers of potential danger and tighten the seat belt in anticipation of an accident. Thus, with the adoption of various innovative techniques to provide customers with advanced and innovative product offerings, these belts are anticipated to be one of the vital and mandatory components, as is the case with the advanced driver assistance system (ADAS).

    Among the analyzed geographical regions, Asia-Pacific is expected to account for the highest revenue in the global market throughout the forecast period. However, LAMEA is expected to register the higher growth rate, predicting a lucrative growth for active seat belt systemin passenger car and commercial vehicle applications.

    Autoliv Inc., Continental AG, DENSO Corporation, Far Europe Inc., GWR Safety Systems, Hyundai Mobis, ITW Safety, JOYSON, TOKAIRIKA, CO, LTD., and ZF Friedrichshafen AGare key market players thatoccupy a significantrevenueshare in the active seat belt system market.

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    FREQUENTLY ASKED QUESTIONS?

    A. The global active seat belt system market was valued at $11.9 billion in 2020, and is projected to reach $22.3 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.

    A. Numerous companies have been operating in the production of active seat belt system for different vehicles. Detailed description of the key players operating in the industry can be gathered through sample obtained from AMR website.

    A. The report sample for global active seat belt system market report can be obtained on demand from the website.

    A. The key segments covered in the report includes component, application, sales channel and region.

    A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

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