Automotive Seat Belt Market, By Vehicle Type (Passenger Cars, Commercial Vehicles (Light Commercial Vehicles, Heavy Trucks, Buses and Coaches)), By Design Type (Belt-in-Seat, Two-point Belts ( Lap Belts), Three-point Belts, Four-point Belts, Five-point Belts, Six-point Belts), By Seat Belt Technology (Retractor, Pretensioners, Active Seat Belts, Bag-in-Belts, Load Limiters, Seat Belt Reminder System), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : May 2023

Code : CMI4677

Pages :170

Formats :

Excel and PDF

Industry : Automotive and Transportation

Market Challenges And Opportunities

Global Automotive Seat Belt Market- Drivers

Increasing Road Accident

Rising incidence of road accidents is expected to propel the global automotive seat belt market growth over the forecast period. High incidence of road accidents across the globe, especially in North America and Europe has boosted the demand for automotive seat belts.

Rising Demand for Inflated Seat Belts and Active Pretensioners

The market is driven by rising demand for luxury automobiles, and growing usage of technologically advanced inflated seat belts in both developed and developing nations. In the event of an accident, these seat belts serve as mini-airbags, and protects back passengers from head injuries caused by front seats. They further go about as a pad to delicate bones of grown-ups and youngsters, assisting with abstaining from breaking or cracking of collar bones. During the forecast period, the global automotive seat belts market is expected to witness growth, owing to rising demand for the installation of inflated seat belts in passenger cars, particularly luxury cars.

Global Automotive Seat Belt Market- Opportunities

Increasing Demand for Three-Point Seat Belt Type

Three-point seat belts are used by automobile manufacturers, as governments all over the world have mandated laws and rules to guarantee the safety of passengers. In February 2022, all front-facing passengers in automobiles must wear three-point seat belts, as mandated by the government. The standard will also apply to the middle seat in a car's rear row.

Expansion of Multi Type Seat Belts

Manufacturers of automobiles focus on implementing various safety belt wellness frameworks that include high-level components. Drivers and passengers' safety is improved by using burden limiters, pretensioners, movable anchors, inflatable seat straps, and pretensioners. In February 2020, many businesses, including Tesla, Audi, and others, are developing innovative automobiles, necessitating vehicle customization equipment.

Global Automotive Seat Belt Market- Restraints

High Cost of New Vehicles and Related Products

During the forecast period, the global automotive seat belt market can be hampered by high cost of new products. Due to the inclusion of newer technologies and fluctuating costs of raw materials, the production of new and advanced products is extremely costly. In order to create novel products, manufacturers have to make significant investments in Research and Development. In April 2022, Maruti Suzuki, the largest automaker in the country, said on Wednesday that it will raise the prices of all of its models later this month to partially offset the sharp rise in input costs. The business has increased prices five times in the last 16 months.

Lack of Awareness about Usage of Seat Belt

Low care among vehicle owners should hamper the overall auto seat strap market advancement over the figure period. In arising economies like Brazil, India, and Indonesia, there is less mindfulness with respect to the upsides of wearing safety belts. Rules relating to traveler wellbeing are not rigorously upheld.