Seat Belt Market in the automotive industry is Likely to Reach $9.1 billion in 2021

Launching announcement of a new research report on Automotive Seat Belt Market which is projected to reach $9.1 billion by 2021 - forecasted by Stratview Research. The study provides an in-depth analysis by Vehicle Type (Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, M&HCV, and Others), by Technology Type (Retractor, Pre-Tensioner, Active Seat Belt, Load Limiter, and Bag-in-Belt), by Application Type (Two-Point Belt, Three-Point Belt, Four-Point Belt, Five-Point Belt, Six-Point Belt, and Belt-in-Seat), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 – 2021.

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Automotive Seat Belt Market: Highlights
The automotive seat belt market is expected to grow at a healthy CAGR of 3.1% over the next five years to reach $9.1 billion in 2021. Increasing automotive production across the region, rising demand for better safety systems, an advancement in the seat belt technology, introduction of stringent safety standards, and increasing seat-belt usage per car are driving the global automotive seat belts market in the upcoming five years.

The automotive seat belt market is segmented by vehicle type: Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, M&HCV and Others. Compact car is expected to remain the largest seat belt market by vehicle type in the global automotive industry during the forecast period. The vehicle type is also likely to register the fastest growth for the same period. Increasing production of compact cars, particularly in the Asia-Pacific and European regions owing to rising demand in Japan, China, India, and high congested cities in the developed markets.

Based on the seat belt application type, the automotive seat belt market is segmented as Two-Point Belt, Three-Point Belt, Four-Point Belt, Five-Point Belt, Six-Point Belt, Belt-in-Seat, and Other Seat Belts. Three-Point seat belt is expected to remain the largest global automotive seat belt type during the forecast period and is also expected to register the fastest growth for the same period. Three-Point seat belt is widely preferred across the vehicle type because of its advantage of safer journey by providing a grip diagonal as well as over the lap.

The automotive seat belt market is also segmented based on technology: Retractor, Pre-Tensioner, Active Seat Belt, Load Limiter, and Bag-in-Belt. Pre-Tensioner is the most commonly used seat belt technology and owns the largest share in the global automotive seat belt market due to its high reliability and effectiveness. Bag-in-Belt, which currently constitutes a miniscule share in the global automotive seat belt market, is likely to witness an impressive double-digit growth for the same period.

Asia-pacific tends to remain the largest automotive seat belt market during the forecast period as the region is the largest producer of automobiles. China, Japan, India, South Korea, and Thailand being the major markets. China and India are expected to remain the growth engines of the region. Both the countries are also introducing new stringent safety norms which ultimately increases the demand for seat belts in an automobile. RoW is expected to register the fastest growth during the forecast period, driven by upcoming assembly plants in the Middle East and Latin America and increasing seat belt penetration per car in the region.

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Autoliv AB, ZF TRW Automotive Holdings Corp., Takata Corporation, Tokai Rika Co. Ltd., Key Safety Systems, and Hyundai Mobis Co. Ltd. are the major seat belt manufacturing companies occupying majority of the share in the global automotive seat belt market. These players are likely to remain predominant over the next five years as well. New product development, an advancement in seat belt technology, and long term contract with automakers are the key strategies adopted by the key players to gain a competitive edge in the market

Report Features
The report provides diverse market intelligence with maximum business value. It gives a condemnatory understanding of the market dynamics and enables strategic decision making for the existing market players as well as those willing to enter the market. The key features include the
->industry life cycle and the supply chain analysis of the market structure.
->SWOT analysis, Porter's five forces analysis and Growth Drivers and constraints.
->Market trend and the forecast analysis.
->Forecast of the market segment trend.
->Competitive landscape and dynamics of Market share, product portfolio, product launches, etc.
->Emerging trends of attractive market segments and associated growth opportunities
->Strategic growth opportunities for the existing and new players.

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