Automotive Seat Belts Global Market Report 2024

The automotive seat belts market size has grown strongly in recent years. It will grow from $13.77 billion in 2023 to $14.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed in the historical period can be attributed to several factors, including the increase in automobile sales and production, a rise in consumer disposable income, the escalation of road fatalities due to accidents, an increased demand for passenger cars, and the enforcement of stringent government regulations.

The automotive seat belts market size is expected to see strong growth in the next few years. It will grow to $18.4 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be attributed to various factors, including the growing awareness of road safety, the increasing growth of electric vehicles, a rising demand for three-point seat belts, a heightened focus on driver safety, and an increase in leisure and travel activities. Key trends expected in the forecast period encompass a focus on smart seat belt technologies, the integration of sensors for improved occupant safety, advancements in belt buckle technology, technological innovations for enhanced crash protection, and innovations in material sciences.

The mounting incidence of road accidents is anticipated to propel the growth of the automotive seat belt market in the coming years. Road accidents, characterized by unforeseen incidents involving vehicles that result in damage, injuries, or fatalities, underscore the critical importance of vehicle safety measures. Automotive seat belts play a pivotal role in enhancing vehicle safety by mitigating the severity of injuries sustained during sudden halts or collisions, thereby reducing the risk of fatalities and injuries. For instance, in January 2024, as per data from the Bureau of Infrastructure and Transport Research Economics (BITRE), road fatalities in Australia surged by 7.3% in 2023, totaling 1,266 compared to 1,180 in the preceding year. Consequently, the escalating frequency of road accidents is a key driver fueling the growth of the automotive seat belt market.

Leading companies in the automotive seat belt market are intensifying their focus on pioneering innovative solutions to bolster their competitiveness and profitability. One such innovation gaining traction is heated seat belt technology, aimed at enhancing occupant comfort, particularly in cold weather conditions. Heated seat belt technology entails the integration of heating elements into seat belts, providing warmth to occupants during chilly climates. For instance, in January 2023, ZF Friedrichshafen, a renowned engineering technology company based in Germany, introduced Heat Belt - an innovative heated seat belt tailored for electric vehicles (EVs). Designed to enhance occupant warmth while minimizing interior heating energy consumption, Heat Belt has the potential to extend an EV's range by up to 15% in cold conditions. By seamlessly incorporating heating conductors into the seatbelt structure, Heat Belt ensures optimal functionality while delivering immediate warmth to occupants as soon as the vehicle is set in motion, thereby enhancing both comfort and energy efficiency.

In December 2021, ZF Friedrichshafen, a German automotive manufacturing firm, completed the acquisition of Rane Group for an undisclosed sum. This strategic move enables ZF to accelerate product innovation and localization by tapping into Rane Group's specialized knowledge and aligning with its Refresh India strategy to augment its technological solutions. The Rane Group, an Indian automotive parts manufacturer renowned for its production of automotive seat belts, now stands as an integral part of ZF's enhanced capabilities and market presence.

Major companies operating in the automotive seat belts market report are Robert Bosch GmbH, DENSO CORPORATION, Volvo Group, Continental AG, Hyundai Mobis Co. Ltd., Forvia Faurecia SE, Toshiba Corporation, Lear Corporation, Aptiv PLC, Autoliv Inc., Toyoda Gosei Co. Ltd., Joyson Safety Systems Aschaffenburg GmbH, Tokai Rika Co. Ltd., Takata Seat Belts Inc., Tokin Corporation, Ashimori Industry Co. Ltd., Simpson Performance Products, Schroth Safety Products, Sabelt S.p.A., Holmbergs Safety System Holding AB, Fasching Salzburg GmbH, GWR Safety Systems, Goradia Industries (Beam's Seatbelts), APV Corporation, Far Europe Inc., Kingfisher Automotive Pte. Ltd., BERGER Group, Midwest Precision Products, BK Seat Belt Co. Ltd., Granat Industries Inc.

Asia-Pacific was the largest region in the automotive seat belts market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive seat belts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive seat belts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An automotive seat belt is a safety restraint system comprising a strap and buckles, designed to secure vehicle occupants during sudden stops or collisions, with the primary aim of reducing the risk of injury by preventing occupants from being ejected and minimizing impact forces during vehicular incidents.

The main types of automotive seat belts include three-point and five-point configurations. A three-point seat belt secures the occupant at three points across the lap and diagonally across the chest. These seat belts are utilized in various vehicles, including passenger cars, light commercial vehicles, buses, and trucks. The technologies associated with automotive seat belts encompass pretensioner, retractor, active, inflatable, load limiter, and reminder seat belts. These seat belts are distributed through different sales channels such as original equipment manufacturers (OEM) and the aftermarket.

The automotive seat belts market research report is one of a series of new reports that provides automotive seat belts market statistics, including automotive seat belts industry global market size, regional shares, competitors with an automotive seat belts market share, detailed automotive seat belts market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive seat belt industry. This automotive seat belt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive seat belt market consists of sales of seat belt sensors, seat belt warning systems, seat belt anchor points, seat belt extenders, seat belt covers, seat belt clips, and seat belt repair kits. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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