Seat Belt Retractor Market Outlook – 2027
With rising number of accidents in past few years, the demand for safety features has raised. Seat belt is one of the safety features which safeguard the passenger and driver. Seat belts retractor is a part of seat belt unit, which is one of the most critical safety mechanisms in our vehicles. Seat belt retractor is the male part of seat belt where the webbing material feeds out. Moreover, seat belt retractor consists of spring, gears, sensors etc. In case of accident, the seat belt retractors are responsible to lock up due to sudden stoppage. The newly available retractors have two separate sensors viz. vehicle sensor and webbing sensor.
COVID-19 scenario analysis:
- The fall-down of economy and global lockdown have imposed a threat to automotive sector.
- With decreasing sales of vehicles around the globe, the automotive component manufacturers would face a major challenge.
- Automotive industry has almost absolutely halted till further condition improves.
- However, the seat belt retractor being one of the safety components in vehicle is anticipated to grow post lockdown. This, in turn, would increase the aftermarket sales which is driven by maintenance issues.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Major driving factor of Seat belt retractor market is rising production of vehicles in developing economies. Moreover, increasing awareness of consumers towards safety in vehicle has led to rise in demand for seat belt and seat belt retractor respectively. Additionally, technological development of seatbelt retractor is driving the market. Besides, increasing number of accidents will propel the sales of seatbelt retractor.
However, high cost associated with advanced seatbelt retractors which will replace traditional retractors are hampering market growth. Furthermore, government safety norms to mandate seatbelt in vehicle will proliferate market growth.
The Seat belt retractor market trends are as follows:
Lightweight seatbelt retractor
The demand for light-weighting of vehicle parts has increased significantly. With use of lightweight parts, the weight of vehicle is reduced. Along with it, the emission from vehicle is also reduced. Additionally, the rising adoption of electric vehicles has increased the demand for lightweight parts. Moreover, this trend has also seen in seatbelt retractor. The newly launched lightweight seatbelt retractor made using a plastic piston instead of metal components that are normally used. In 2018, ZF launched lightweight seatbelt retractor which has set an industry benchmark in terms of weight and packaging. The company had planned to launch the next- generation product on the Jeep Wrangler.
Innovation to drive the market
With rise in investment in R&D activities, the product quality increases and reduces the errors occurred in the past. Advances in safety features is always a focus point of automaker and seat belt retractor is one of them. In 2015, Autoliv, the global leader in automotive safety systems, announced the new seatbelt retractor which can tune its restraining force individually to each vehicle occupant and the crash severity without any sensor. This unique new seat belt has improved safety for all occupants, especially children.
Key benefits of the report:
- This study presents the analytical depiction of the Seat belt retractor industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Seat belt retractor market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the seat belt retractor market research report:
- What are the leading market players active in the Seat belt retractor market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Seat Belt Retractor Market Report Highlights
By Vehicle type
Key Market Players
Autoliv Inc., ZF Friedrichshafen AG, Hyundai Mobis, Denso Corporation, Takata Corporation., Toyoda Gosei, Continental AG, BK Seat Belt Co. Ltd, Goradia Industries, Tokai Rika Co. Ltd., KSS