According to a new report, published by KBV research, The Global Automotive Seat Belt Market size is expected to reach $20.2 billion by 2030, rising at a market growth of 6.4% CAGR during the forecast period.
The Five-point segment would register a CAGR of 9.6% during (2023 - 2030). A five-point seat belt is similar to a regular three-point seat belt and consists of two separate shoulder straps running across each shoulder and the chest. This shoulder harness stabilizes the torso during sudden stops and impacts, reducing the risk of head and torso injuries. One of the most significant advantages of five-point seat belts is their lower straps. These straps extend in a Y shape from the lap to the shoulder belt.
The Passenger Cars segment is leading the Global Automotive Seat Belt Market, By Vehicle Type in 2022; thereby, achieving a market value of $14.1 billion by 2030. Passenger cars, including traditional internal combustion engines (ICE) and electric vehicles (EVs), have a substantial market share globally. The sheer volume of passenger cars manufactured and sold creates a consistent demand for seat belts. In passenger cars, seat belts are often integrated with other safety systems, such as airbags and electronic stability control. This integration ensures comprehensive occupant protection and can drive the adoption of advanced seat belt technologies.
The Aftermarket segment would capture a CAGR of 8.2% during (2023 - 2030). These belts can also be deployed in very old and less common vehicles. Aftermarket seat belts can be customized to meet consumer needs and are affordable. High-quality aftermarket seat belts often adhere to safety standards set by regulatory bodies, such as the National Highway Traffic Safety Administration (NHTSA) in the United States. This compliance ensures that the seat belts meet rigorous safety requirements.
The Asia Pacific region dominated the Global Automotive Seat Belt Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7.6 billion by 2030. The Europe region is poised to grow at CAGR of 6% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 6.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/automotive-seat-belt-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of GWR Safety Systems, Joyson Safety Systems Aschaffenburg GmbH, ZF Friedrichshafen AG, Autoliv, Inc., Hyundai Mobis Co., Ltd. (Hyundai Motor), Robert Bosch GmbH, Volvo Group, Tokai Rika Co., Ltd., Continental AG and Holmbergs Safety System Holding AB
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