According to a new report, published by KBV research, The Global Smart Seat Belt Technology Market size is expected to reach $27.9 billion by 2028, rising at a market growth of 6.5% CAGR during the forecast period.
The Active Seat Belt market is leading the Global Smart Seat Belt Technology Market by Type in 2021; thereby, achieving a market value of $14.9 billion by 2028. Active seat belts are comparable to conventional seat belts, with the addition of modern technology which detects potential dangers, like as crashes, and tightens the seat belt to improve safety. In addition, such seat belts are linked to a pre-crash electronic control unit (ECU), mounted in the car, or are connected directly to pretensioners.
The Electric & Hybrid market is exhibiting a CAGR of 6.8% during (2022 - 2028). This is the result of increased public awareness of fuel-efficient automobiles and government initiatives to minimize pollution. In addition, the construction of infrastructure for EV-charging and hydrogen fueling stations, as well as increasing government incentives to promote the adoption of electric vehicles, are boosting the expansion of the market for battery-powered cars.
The Aftermarket market acquired maximum revenue in Global Smart Seat Belt Technology Market by Sales Channel in 2021; thereby, achieving a market value of $16.2 billion by 2028. The market for used automobiles has expanded substantially, particularly in emerging nations such as India. These markets give substantial potential for the aftermarket segment of the seatbelt industry and, consequently, for the pretensioner market.
The Light Commercial Vehicles market is estimated to grow at a CAGR of 6.8% during (2022 - 2028). It is owing to the expansion of logistics sector along with increasing preference of e-commerce platforms among consumers. Along with that, the transportation sector is significantly expanding, which is creating more demand for commercial vehicles and hence, bolstering the growth of the segment.
The Europe market dominated the Global Smart Seat Belt Technology Market by Region in 2021; thereby, achieving a market value of $9.4 billion by 2028. The North America market is poised to grow at a CAGR of 6.1% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 6.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/smart-seat-belt-technology-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 Autoliv, Inc., Continental AG, Denso Corporation, Tokai Rika Co., Ltd., ZF Friedrichshafen AG, Hyundai Mobis Co., Ltd., GWR Safety Systems, ITW Automotive Products GmbH, Joyson Safety Systems Aschaffenburg GmbH, Yanfeng International Automotive Technology Co. Ltd.
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