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Automotive Seat Belts Market Size By Type (2-Point Seat Belts, 3-Point Seat Belts), By Vehicle (Passenger Cars, LCV, HCV), By Component (Webbing Strap, Retractors, Buckles, Tongues, Pillar Loops), By Distribution Channel (OEM, Aftermarket), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI1944
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Trends

Automotive Seat Belts Market size exceeded USD 18.34 million in 2021 and will exhibit a growth rate of 3.5% from 2022 to 2028. The increasing consumer awareness about safety features and the rising demand for advanced safety features in passenger & commercial vehicles are expected to contribute to the market growth.
 

Automotive Seat Belts Market

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Increasing automobile production, developments in seat belt technology, demand for passive safety systems, and the introduction of stringent safety regulations & standards will boost the automotive seat belts industry growth in the next few years. Rising consumer awareness pertaining to vehicle safety is escalating the product demand. The seat belt reminder systems with alarm for rear seats is a key trend that will upsurge the market demand.
 

High benefits of 3-point seat belts in developing economies

Global Automotive Seat Belts Market, By Type

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The 3-point seat belts segment held the largest market share in 2021 and is poised to reach over USD 22 billion by 2028. This is attributed to the superior comfort and improved safety of 3-point seat belts. The urge for 3-point seat belts is increasing in different types of vehicles due to improved safety and reduced fatalities. Additionally, the improved stretching ability for belt adjustment and the mandatory adoption of the system in passenger cars will induce significant growth potential in the industry landscape.
 

Rising demand for seat belts in passenger cars

Global Automotive Seat Belts Market, By Vehicle

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The automotive seat belts market from passenger cars segment is anticipated to witness 4% gains through 2028. The frequent launch of new models along with the easy availability of financial and several offers provided by vehicle manufacturers to increase their sales will support the market revenue. Vehicle producers are emphasizing on the adoption of modern safety measures to improve passenger car safety.
 

Growing demand for retractors in passenger vehicles

Global Automotive Seat Belts Market, By Component

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Retractor components segment will account for more than 35% of the revenue share by 2028 with the development of several retractors including Emergency Locking Retractor (ELR) and Automatic Locking Retractor (ALR). ELRs are widely used in seat belts owing to the passenger comfort provided by the retractor. Vehicle manufacturers are launching new vehicle models with ELR to spur component penetration.
 

Increasing demand for automotive seat belts in the OEM segment

Global Automotive Seat Belts Market, By Distribution Channel

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The OEM segment dominated the automotive seat belt market and is slated to observe 3.6% gains from 2022 to 2028. The proliferating automotive production and stringent government regulations are mandating the fitment of seat belts to promote safety. Furthermore, factors including rigorous crash tests and car assessment programs are motivating automobile OEMs to employ safety measures to improve their vehicles' safety ratings, thereby differentiating their portfolios from competitors and improving sales.
 

Asia Pacific to showcase significant growth

Global Automotive Seat Belts Market, By Region

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Asia Pacific automotive seat belts market is set to capture about 300 million units demand by 2028. Asia Pacific dominates the industry impelled by increasing vehicle sales coupled with emerging regulations in several countries to adopt 100% seat belts in vehicles. Furthermore, the increase in production of vehicles and rising demand for passenger vehicles are among the major drivers, fueling the industry gains. Improving living conditions combined with easier financing alternatives and strong GDP growth per capita play a major role in increasing the sales of passenger vehicles across the region.
 

Product expansion to prove one of the major strategic outlooks

The industry is likely to witness competition on account of the adoption of strategies including mergers & acquisitions and technology advancements by competitors to gain high visibility.
 

This market research report on automotive seat belts includes in-depth coverage of the industry with estimates & forecast in terms of volume in million units and revenue in USD million from 2018 to 2028, for the following segments:

Market, By Type

  • 2-Point Seat Belts
  • 3- Point Seat Belts

Market, By Vehicle

  • Passenger Cars
  • LCV
  • HCV

Market, By Component

  • Webbing Strap
  • Retractor
  • Buckle
  • Tongue
  • Pillar Loop

Market, By Distribution Channel

  • OEM
  • Aftermarket

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa

 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The market size of automotive seat belts crossed USD 18.34 million in 2021 and is poised to record a growth rate of over 3.5% through 2028, according to GMI report.

The market revenue from the OEM segment is poised to witness a CAGR of more than 3.6% between 2022 and 2028 owing to the expanding automotive production and the presence of stringent government regulations.

Retractor components are likely to hold over 35% of the revenue share by 2028 led by the higher need for passenger comfort.

The Asia Pacific market is expected to record close to 300 million units, in volume, by 2028 driven by the rising vehicle sales in the region.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 11
  • Tables & Figures: 272
  • Countries covered: 19
  • Pages: 330

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