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The predicted growth of the automotive seatbelts market share from 2021 to 2026 is USD 2.54 billion at a progressing CAGR of 5.03%.
This automotive seatbelts market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The automotive seatbelts market report also offers information on several market vendors, including APV Corporation Pty. Ltd., Ashimori Industry Co. Ltd., Autoliv Inc., Belt Tech Products Inc., Continental AG, Elastic Berger GmbH and Co. KG, Goradia Industries, GWR, Hyundai Mobis Co. Ltd., Krishna Enterprise, Ningbo Joyson Electronic Corp., Robert Bosch GmbH, Seatbelt Solutions LLC, Shield Restraint Systems Inc., Shivam Narrow Fabric, Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., Toyota Motor Corp., Wenzhou Far Europe Automobile Safety System Co. Ltd., and ZF Friedrichshafen AG among others.
This report extensively covers automotive seatbelts market segmentation by the following:
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing use of electronic components in vehicles is notably driving the automotive seatbelts market growth, although factors such as gradual increase in the cost of automobiles may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive seatbelts industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Seatbelts Market Driver
One of the key factors driving growth in the automotive seatbelts market is the increasing use of electronic components in vehicles. The hypercompetitive environment in the automotive industry has made it imperative for manufacturers to adopt the latest technologies to ensure a sustainable presence. Numerous mechanical components are being replaced with electronic components to increase effectiveness and convenience. Multiple automotive controls are being replaced with electronic components to improve the safety and comfort of users and reduce vehicle weight. Additionally, advances in transmission and safety systems are driving the adoption of automatic transmission systems, anti-pinch power windows, and rain-sensing wipers, among others. Thus, the increasing use of electronic components will result in a corresponding increase in the number of actuators used in typical vehicles. Such factors will accelerate the growth of the auto parts and equipment market during the forecast period.
Key Automotive Seatbelts Market Trend
The seatbelt reminder systems with visual or audible alarm for rear seats is a automotive seatbelts market trend that is expected to have a positive impact in the coming years. The global automotive seatbelts market is witnessing developments in the form of advanced functionalities, the material used in manufacturing seatbelts, and the emergence of multi-point seatbelt systems. Seatbelt systems in the automotive market have also witnessed an evolution in terms of their use and application. Seatbelt systems for commercial vehicles are now offered with reminder systems to boost the safety of the occupants further. It has been found that advanced seatbelt systems with audio-visual warning signals prove to be more effective in increasing the use of seatbelts among consumers. Seatbelt reminder systems have now become a common feature as far as front seats are concerned. This is due to the voluntary adoption of advanced safety systems by automakers and due to the increasing stringency of safety norms across the world. However, seatbelt reminder systems for rear seats do not currently find widespread adoption. But, with automakers and government bodies continuously focusing on improving the safety of vehicles and road users, we expect the seatbelt reminder systems for rear seats to find increased adoption during the forecast period.
Key Automotive Seatbelts Market Challenge
The gradual increase in the cost of automobiles will be a major challenge for the automotive seatbelts market during the forecast period. The world economy is undergoing a paradigm shift, wherein industrialization, infrastructure, and growing employment opportunities are changing the face of the world economy. The advent of advancements in technology and process management has made way for improved socio-economic conditions. The same can be related to the global automotive industry, which itself is undergoing revolutionary changes in terms of design, functionality, and purpose. The emergence of autonomous vehicle technologies and connected car solutions, increasing electrification of vehicle components, and growing focus on advanced vehicular safety have led to an increase in the cost of vehicles. Vehicle costs are increasing year-over-year due to the continuous evolution of the global automotive industry. The same trend is being witnessed in the global automotive seatbelts market too. The market is witnessing a rise in the cost of seatbelt systems, as there is an increase in the use of electronic content in advanced seatbelt systems. Such factors pose a challenge to the growth of the global automotive seatbelts market.
This automotive seatbelts market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive seatbelts market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive seatbelts market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive seatbelts market encompasses successful business strategies deployed by the key vendors. The automotive seatbelts market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive seatbelts market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive seatbelts market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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63% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for automotive seatbelts in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The high-volume sales of automobiles in China, Japan, India, Indonesia, South Korea, Thailand, and Australia will facilitate the automotive seatbelts market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic drastically impacted the regional automotive seatbelts market in 2020 in APAC. Wuhan, the city where the outbreak of COVID-19 originated, is one of China major automotive production (parts and cars) sites. However, with the introduction of COVID-19 vaccines and the resumption of production facilities in the automotive industry, the market has started to recover since 2021. Thus, such factors are expected to increase the demand for automotive seatbelts, which, in turn, will drive the regional automotive seatbelts market during the forecast period.
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The automotive seatbelts market share growth by the passenger cars segment will be significant during the forecast period. The overall growing demand for passenger cars leading to growing volume sales of passenger vehicles is driving the concerned market and is expected to continue during the forecast period. In addition, the growth in the demand for the larger utility vehicles such as SUVs, CUVs, and MPVs is further supplementing the growth of the concerned market. Moreover, the growing penetration rate of seatbelts in the rear seats is further acting as a market enabler for the concerned market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive seatbelts market size and actionable market insights on post COVID-19 impact on each segment.
Automotive Timing Belt - The market share is expected to increase to USD 37.62 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.4%.
Light Commercial Vehicle - The market share is expected to increase by 1436.98 thousand units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 1.5%.
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Automotive Seatbelts Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.03% |
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Market growth 2022-2026 |
$ 2.54 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.89 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 63% |
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Key consumer countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
APV Corporation Pty. Ltd., Ashimori Industry Co. Ltd., Autoliv Inc., Belt Tech Products Inc., Continental AG, Elastic Berger GmbH and Co. KG, Goradia Industries, GWR, Hyundai Mobis Co. Ltd., Krishna Enterprise, Ningbo Joyson Electronic Corp., Robert Bosch GmbH, Seatbelt Solutions LLC, Shield Restraint Systems Inc., Shivam Narrow Fabric, Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., Toyota Motor Corp., Wenzhou Far Europe Automobile Safety System Co. Ltd., and ZF Friedrichshafen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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