The automotive seat belts market is set to grow from its current market value of more than USD 21.4 billion to over USD 22.5 billion. The global automotive seat belts industry is projected to observe substantial growth over the coming years due to the increasing adoption of passenger vehicles across the globe. Additionally, rising awareness about passenger safety and the introduction of numerous regulations as well as awareness programs globally, would also positively influence the industry growth over the coming years.

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Meanwhile, ongoing technological advancements in the automotive seat belts to improve convenience while providing greater level of safety is actively shaping the market landscape. Taking Mar 2019 for instance, Tool Inc., a US-based product design and development firm, with support from the National Highway Traffic Safety Administration, developed ALR (Automatic Locking Retractor), a seatbelt design with a safety feature mainly to hold a child’s car seat at its place. During misuse conditions, like a child pulling a seatbelt all the way out, the device activates and locks the seatbelt at a place and tightens it till its reset by feeding the belt back into the retractor.

With respect to vehicle, the automotive seat belts market is bifurcated into heavy commercial vehicles, light commercial vehicles, and passenger cars. Of these, the industry would observe tremendous adoption in heavy commercial vehicles, majorly due to the expanding logistics sector globally. In addition, stringent government rules and regulations are likely to play a major role in fostering segment growth through the forthcoming timeframe. Citing an instance, in 2016, the U.S. Federal Motor Carrier Safety Administration made seatbelts mandatory for passengers and drivers in HCVs, offering a key factor for the increasing product demand.

In terms of type, the automotive seat belts market is bifurcated into 3 point seatbelts, and 2 point seatbelts. Greater flexibility and easier operation offered by the 3 point seatbelts is expected to drive their demand over the forthcoming years. In addition, better suitability, and safety coupled with an inertia locking belt retractor mechanism would majorly propel the segment share over the coming years. Moreover, these belts offer the best protection and effectively reduce injuries in passengers on the center rear seat in light passenger and commercial vehicles, which is increasing their adoption in the automotive industry.

On the regional front, the mandatory implementation of seatbelts for rear and front-seat passengers made by the regulatory authority is driving the Europe automotive seat belts market share. Moreover, the retrofit regulation imposed across countries like Italy should positively impel the regional share over the analysis period. An upsurge in regional vehicle sales coupled with increasing development of innovative seat belts throughout the region is expected to further foster the market share in Europe.

Apart from Europe, a number of stringent road safety regulations introduced across other nations are also likely to drive the demand for automotive seatbelts majorly. Taking July 2019 for instance, the Government of India passed a new law according to which people not wearing seatbelts would be charged with heavy penalties. The nation also imposed a few other rules for driver and passenger safety.

The competitive landscape of the global automotive seat belts market is inclusive of players such as Toyoda Gosei, ZF TRW, Takata Corporation, Tokai Rika, Goradia Industries, Hyundai Mobis, GWR Co., BK Seat Belt, Autoliv AB, and Ashimori among others.

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Data Tables

TABLE 1.    Automotive seat belts industry 360⁰ synopsis, 2016 – 2026

TABLE 2.    Automotive seat belts market estimates and forecast, 2016 – 2019, (Million Units) (USD Million)

TABLE 3.    Automotive seat belts industry estimates and forecast, 2020 – 2026, (Million Units) (USD Million)

TABLE 4.    Automotive seat belts industry estimates and forecast by type, 2016 – 2019 (Million Units)

TABLE 5.    Automotive seat belts industry estimates and forecast by type, 2020 – 2026 (Million Units)

TABLE 6.    Automotive seat belts market estimates and forecast by position, 2016 – 2019 (USD Million)

TABLE 7.    Automotive seat belts industry estimates and forecast by position, 2020 – 2026 (USD Million)

TABLE 8.    Automotive seat belts industry estimates and forecast by vehicle, 2016 – 2019 (Million Units)

TABLE 9.    Automotive seat belts market estimates and forecast by vehicle, 2020 – 2026 (Million Units)

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