According to Vision Research Reports, the global automated truck market value is projected to reach around US$ 2 Bn by 2027, expanding at a CAGR of 55% during the forecast period 2020 to 2027.
Introduction
Expansion of the Automotive Seat Belt Retractor Market
In terms of technology, the global automotive seat belt retractor market has been divided into emergency locking retractors, automatic locking retractors, and switchable retractors. The emergency locking retractors segment is likely to hold a prominent share of the automotive seat belt retractor market, as most manufacturers prefer installing a pretensioner and load limiter along with the emergency locking retractor unit, as a combination of the emergency locking retractor, pretensioner, and load limiter possesses a higher retraction force to hold the occupant firmly on the seat.
Automatic locking retractors is another preferred combination for installing seat belt retractors after emergency locking retractors. In some vehicles, the automatic locking retractor, pretensioner, and load limiter are used to retract the seat belt in case of sudden deceleration of the vehicle.
Based on seat, the automotive seat belt retractor market has been divided into rear and front seats. The front seats segment is anticipated to garner significant share of the market, even though the volume is less, as retractors are integrated in the front seats and cost more. Advanced technology seat belts and their introduction in vehicles are likely to propel the automotive seat belt retractor market during the forecast period. The number of seats at the rear of a vehicle is more than that in the front; hence, the rear seats segment accounted for a higher share of the automotive seat belt retractor market in 2018.
In terms of vehicle, the automotive seat belt retractor market has been divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Increasing demand for light commercial vehicles due to increasing capital investments in small and medium enterprises is anticipated to boost the light commercial vehicles segment, which in turn is likely to boost the seat belt retractor market during the forecast period.
Regional Analysis of the Automotive Seat Belt Retractor Market:
Competitive Landscape
Key market players operating in the global automated truck market include
Segmentation
Key Questions Answered
The business asset analyzes the automated truck market in terms of volume (units) and value (US$ Mn). Authors of the report aim at elaborating on the current trends and future scope of the automated truck market, along with the portfolio and key strategies of market players, which will help readers devise sustainable growth strategies and make well-informed decisions in the automated truck market. Some of the key questions answered in the report are:
Automated Truck Market – Research Methodology
Vision Research Reports analysts follow a systematic research methodology to obtain crucial information regarding the growth of the automated truck market. The VRR study validates information collected through various sources. In order to gather information regarding the automation truck market, primary research was conducted. For primary research, interviews with vice presidents, marketing managers, business unit heads, chief operation officer, and salespersons were conducted.
In order to carry out secondary research, various sources such as company websites, annual reports, white paper, financial reports, broker reports, investor presentations, press releases, and government documents were studied. Post the primary and secondary research, insights obtained were then validated through the data triangulation method. This aids in sourcing credible information that includes competitor analysis, opportunities, risks, microeconomic factors, macroeconomic factors, and demographic analysis.
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