Increase in consumer awareness of automotive safety, high demand for luxury vehicles and rise in automotive safety norms drive the growth of the global active seat belt system market. However, high cost of active seat belts impedes the global development of the active seat belt system market. Moreover, biosensors as an input source for future active seat belt systems and increase in passenger vehicle registration are expected to create a significant opportunity for market competitors in the coming years.
According to the report, the global active seat belt system market size was pegged at $11.9 billion in 2020, and is expected to reach $22.3 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.
Active Seat Belt System Market Segment Overview
The passenger cars segment held the lion’s share in 2020-
Based on application, the passenger cars segment held the lion’s share in 2020, contributing to more than three-fifths of the global active seat belt system market, and is expected to continue its lead during the forecast period. This is attributed tothe increased application of active seat belt systems in passenger cars. Moreover, this segment is expected to witness the highest CAGR of 7.5% by 2030. The report also includes an analysis of the light commercial vehicles and heavy commercial vehicles segment.
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The pretensioners segment to dominate by 2030-
By component, the pretensioners segment accounted for nearly half of the global active seat belt system market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the fact that it increases passenger protection and reduced slack between the seat belt & passenger’s body. The buckle lifters segment, however, would showcase the fastest CAGR of 8.7% by 2030. This is attributed to the fact that it eases buckling and reaching up to the buckles boosted the adoption of these components, thus driving the growth of the segment.
Asia-Pacific, followed by North America, to lead the trail in terms of revenue-
By region, Asia-Pacific, followed by North America, garnered the major share in 2020, contributing to nearly half of the global active seat belt system market, and is expected to dominate the market during the forecast period. This is owing to the increased production & sales of vehicles across the region. However, the LAMEA region is expected to witness the fastest CAGR of 9.0% by 2030. This is attributed to the increased demand for advanced safety systems in vehicles sold across the region.
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Active Seat Belt System Market Key Players
- Continental AG
- Autoliv Inc.
- DENSO Corporation
- GWR Safety Systems Inc
- Far Europe Inc.
- ITW Safety Components Mexico
- Hyundai Mobis Co Ltd
- TOKAI RIKA, CO, LTD
- Joyson Group
- ZF Friedrichshafen AG
The report analyzes these key players in the global market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market growth.
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