AUTOMOTIVE SEAT BELT MARKET ANALYSIS

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

Automotive Seat Belt MarketSize and Trends

Global automotive seat belt market was valued at US$ 12,500 million in 2022 and is exhibiting a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. A seat belt is a safety device for cars that protects the driver and passengers from severe movement in the event of a collision or sudden stop. By reducing the force of secondary impacts with interior strike hazards, a seat belt reduces the likelihood of death or serious injury during a collision. Many nations have imposed severe financial penalties on those who do not adhere to the law for wearing seat belts while traveling.

Global Automotive Seat Belt Market- Regional Insights

Asia Pacific dominated the global market in 2022, overpowers the business impacted by extending vehicle bargains joined with emerging rules in a couple of countries to take on 100% seat straps in vehicles. The market is expected to expand in this region due to rising passenger vehicle demand and rising vehicle production. In order to increase the number of traveler vehicles in the region, further development of everyday environments, as well as easier-to-support alternative options and solid GDP growth per capita, are important.

North America is the second largest market in 2022, owing to enactment of stringent government policy to ensure the safety of passengers. During the forecast period, numerous safety programs such as the 5-Star Safety Ratings Program, implemented by National Highway Traffic Safety Association (NHTSA) in the U.S. to improve occupant safety is expected to drive the market growth.

Figure 1. Global Automotive Seat Belt Market Share (%), By Region, 2022