Sales Revenue of Automotive Seat Belts to Surge During the Forecast Period Owing to Rapid Adoption Across Key Industries

The global automotive seatbelts industry is estimated to witness significant growth over the coming years owing to the steadily rising adoption of passenger vehicles throughout the world. Increasing awareness about passenger safety as well as the introduction of numerous stringent regulations and road safety awareness programs across the globe would further complement the industry growth through the forecast timeframe.
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Ongoing technological advancements by automobile manufacturers to provide greater convenience while also increasing the level of safety would positively impel market outlook further. Citing an instance, in March 2019, Tool Inc., a renowned product design and development company, collaborated with the U.S. National Highway Traffic Safety Administration, to develop ALR (Automatic Locking Retractor), a unique seatbelt design that includes a safety feature that holds a child car seat in place and reduce the seatbelt entrapment risk. In case of misuse conditions, such as when a child pulls the seatbelt out of the retractor completely, the ALR device activates and locks the seatbelt in place, tightening it till it is reset by feeding the belt back into the retractor.
As per Global Market Insights Inc., estimates. the automotive seatbelts market is likely to exceed a valuation of $22.5 billion by 2026.
Given below is a brief overview three major rends influencing the automotive seatbelts market:
Increasing adoption of 3-point seatbelts  
With respect to type, the industry is classified into 3-point, and 2-point seatbelts. Among these, the higher flexibility and simpler operation of 3-point seatbelts are likely to fuel their demand over the coming years. Additionally, greater safety and suitability with inertia locking belt retractor mechanism would further augment the product adoption over the forthcoming years.
Moreover, the 3-point seatbelts also provide a higher level of protection and effectively minimize fatalities within passengers in the center rear seat across both light passenger and commercial vehicles, which is increasing their demand in the automotive industry.
Growing demand for seatbelts across HCVs
Taking 2016 for instance, the U.S. Federal Motor Carrier Safety Administration passed a new law that mandated seatbelts for both passengers and drivers in HCVs, which created a positive outlook towards the HCV segment growth.
Tightening road safety regulations across Europe
Geographically, stringent rules imposed by several local governments towards the use of seatbelts, for both rear and front-seat passengers, are impelling the Europe automotive seatbelts industry size. Additionally, retrofit norms imposed by a number of regional governments across nations like Italy would positively impel the regional market size over the analysis period. All-in-all, an increase in the number of regional vehicle sales and the development of more safe seat belts is expected to fuel the market share across Europe.
Apart from Europe, numerous other regions are increasingly tightening their respective road safety laws to curb road accident related fatalities. Increasingly stringent road safety norms introduced across other nations are expected to create immense growth opportunities for the market. Citing an instance, in July 2019, the Government of India passed a new act that mandated the use of seatbelts through the way of imposing heavy fines for people not following the new law. Such growing awareness is expected to shape the industry landscape over the forthcoming years.
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The competitive landscape of the global automotive seatbelts market is inclusive of players such as Toyoda Gosei, Takata Corporation, ZF TRW, Hyundai Mobis, Tokai Rika, Goradia Industries, Autoliv AB, BK Seat Belt, Ashimori and GWR Co. among others.
Table of Contents of the Report (TOC):
Chapter 1   Methodology and Scope
1.1    Market definition
1.2    Base estimates & working
1.2.1    North America
1.2.2    Europe
1.2.3    Asia Pacific
1.2.4    Latin America
1.2.5    Middle East & Africa
1.3    Forecast calculations
1.3.1    COVID-19 impact calculations on industry forecast
1.4    Data Sources
1.4.1    Secondary
1.4.1.1    Paid
1.4.1.2    Unpaid
1.4.2    Primary
Chapter 2   Executive Summary
2.1    Automotive seat belts industry 3600 synopsis, 2018 - 2028
2.1.1    Business trends
2.1.2    Type trends
2.1.3    Vehicle trends
2.1.4    Component trends
2.1.5    Distribution channel trends
2.1.6    Regional trends
Chapter 3   Automotive Seat Belts Industry Insights
3.1    Introduction
3.2    Industry landscape, 2018 - 2028
3.2.1    COVID 19 impact on industry landscape
3.3    Industry ecosystem analysis
3.3.1    Distribution channel analysis
3.3.2    Value chain disruption analysis (COVID 19 impact)
3.3.3    Vendor matrix
3.4    Technology landscape
3.4.1    Seat Belts Reminder System
3.4.2    Inflatable Seat Belt
3.4.3    Active Control Retractors
3.5    Pricing trends
3.5.1    North America
3.5.2    Europe
3.5.3    Asia Pacific
3.5.4    Latin America
3.5.5    MEA
3.6    Cost structure analysis
3.7    Regulatory landscape
3.7.1    U.S.
3.7.2    Europe
3.7.3    China
3.8    Industry impact forces
3.8.1    Growth driver
3.8.1.1    Stringent government regulations pertaining to passenger safety
3.8.1.2    Advancements in automotive seat belt technologies
3.8.1.3    Increasing production and demand for passenger vehicles
3.8.1.4    Rising commercial vehicles demand
3.8.2    Industry pitfalls & challenges
3.8.2.1    Growing adoption of active safety system
3.8.2.2    Temporary closure of manufacturing facilities due to COVID-19
3.9    Innovation & sustainability
3.9.1    Smart Seat Belt
3.9.1.1    Intelligent Ignition System (IIS)
3.9.1.2    Attention Retention System (ARS)
3.9.2    Intelligent Seat Belt
3.10    Growth potential analysis, 2021
3.11    Porter's analysis
3.11.1    Supplier power
3.11.2    Buyer power
3.11.3    Threat of new entrants
3.11.4    Industry rivalry
3.11.5    Threat of substitutes
3.12    PESTEL analysis
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