The global automobile seat belt market is anticipated to expand at a single-digit CAGR during the forecast period. Moreover, the global seat belt volume is anticipated to follow the same trend in terms of CAGR.
Albany, NY -- (SBWIRE) -- 03/15/2016 -- Seat belt, also known as a safety belt, is a basic automotive safety device. Automotive seat belts are designed to safeguard the driver from harm caused due to sudden jerk on collision or sudden stoppage of the vehicle. Automotive seat belts complement automotive airbags to ensure optimum passenger safety in case of an accident.
This report covers the global automotive seat belt market performance in terms of revenue and volume contribution. The report includes key trends, drivers, restraints and opportunities influencing the growth of the global automotive seat belt market. Impact analysis of key growth drivers and restraints, based on the weighted average model is included in this report to better equip clients with crystal clear decision-making insights.
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The global automotive seat belt market is mainly driven by factors such as increasing government road safety regulations and high incidence of road accidents worldwide. However, high costs of new products are expected to hamper the growth of the automotive seat belt market.
By Design Type type segment, Three-point belt is expected to be the dominant segment, accounting for 93.7% share of the total global automotive seat belt market by 2021, followed by two-point belt segment accounting for around 4.0% share.
By vehicle type segment, the passenger car segment is expected to dominate the automotive seat belt market, accounting for over 65% share of the overall market by 2021. The segment is projected to expand at a CAGR of 8.7% during the forecast period (2015–2021).
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By technology type segment, the pretensioner segment is estimated to dominate the automotive seat belt market, accounting for around 35% share of the overall market by 2015 end. The segment is projected to expand at a CAGR of 8.0% during the forecast period.
By Regional Analysis, Asia-Pacific is estimated to be the largest market for automotive seat belts, accounting for over 25% share by 2015 end, and is expected to remain dominant throughout the forecast period. The automotive seat belt market in MEA and Latin America are expected to expand at CAGRs of 8.5% and 8.3 % respectively during the forecast period.
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Key players in the global automotive seat belt market are Autoliv Inc., ZF TRW Automotive Holdings Corp., Takata Corporation, Robert Bosch GmbH, Continental AG, Denso Corporation, Key Safety Systems Inc., Toyoda Gosei Co. Ltd., Hyundai Mobis Co. Ltd., and Tokai Rika Co. Ltd. Major players are focusing on research and development activities in order to introduce innovative products in order to gain a competitive advantage in the market.
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