The global automotive seat belt load limiter market size is projected to reach US$ 5.3 Bn by 2027. The automotive seat belt load limiter market is expected to grow at a CAGR of 6% during the forecast period 2020 to 2027.
Concerns about the safety of customers are growing faster than the rate at with the global vehicle parc is expanding. With safety becoming the primary criterion for customers while making a decision of purchasing a vehicle, automakers are coming up with more advanced and innovative automotive safety components to succeed in the hyper-competitive industry.
The increasing adoption of cutting-edge technologies has triggered the demand for digressive and progressive seat belt load limiters. However, with the automotive world progressing to embrace smart seat belt safety systems in tomorrow’s vehicles, the automotive seat belt load limiter market is expected to witness a sea change in terms of technological disruption.
Roads accidents are presently a major reason of death among young adults and children, which indicates the necessity for a change in present road safety norms. Motor vehicle accidents are currently the eighth-leading cause of deaths, worldwide. A report by the World Health Organization (WHO) claims that, 1.35 million deaths occur per year, which accounts for 3,700 deaths per day, across the globe. Many drivers and passengers who die in road crashes do not use seat belts, which, during frontal collisions, prevent fatality. Consequently, regulations on the integration of seat belt systems in vehicles are likely to boost the automotive seat belt load limiter market during the forecast period.
Automotive seat belt load limiters are installed in automotive seat belts to reduce the tension created by seat belts during an impact. Automotive seat belt load limiters also protect the occupant from injury or prevent excess pressure from being exerted on the chest due to the seat belt in the vehicle.
A pretensioner used in the vehicle typically comprises a pyrotechnic device, which assists in holding the occupant in position and prevents the occupant from banging against the dashboard or front seat of the vehicle, while the automotive seat belt load limiter reduces the force exerted by the belt.
Increase in the demand for safety systems in vehicles has led to the development of advanced technology seat belts. Rising stringency of safety standards is driving the automotive seat belt market, which, in turn, is likely to boost the market for automotive seat belt load limiters.
Rise in per capita income in developing countries has led to the emergence of several first-time consumers, thus spurring vehicle production. This, in turn, fuels the demand for automotive seat belt load limiters.
Government initiatives in India and China to boost vehicle production in their respective countries is driving the automotive seat belt load limiter market in Asia Pacific.
Expansion of the automotive industry in ASEAN is projected to boost the automotive seat belt load limiter market in the sub-region. Increase in the demand for occupant safety is a primary driver of the global automotive seat belt load limiter market.
Increasing usage of active safety features in modern vehicles to enhance safety of passengers, and continuous developments in the field of safety equipment carried out by major manufacturers, such as Autoliv, Inc. and ZF Friedrichshafen AG, are anticipated to propel the automotive seat belt load limiter market during the forecast period.
Wearing seat belts regularly has, in a few instances, led to the appearance of rashes in some occupants, which, in turn, is discouraging some people from utilizing seat belts. Automotive seat belt load limiters are not replaced individually; instead, the complete seat belt system needs to be replaced if there is a malfunction. The high cost of automotive seat belt load limiter systems has led to the high usage of seat belts without load limiters for the rear seats.
Market Grows with the Amplifying Need for Vehicle Safety
Customers’ need for safer vehicles has been directing some imperative business strategies of automakers since the past decade, giving rise to some groundbreaking innovations. Seat belt load limiters, albeit not integral, have become an important component in modern vehicles. From being limited to sports cars and high-end vehicles, seat belt pretensioners and load limiters have become ubiquitous in most passenger cars on the roads.
The global market for automotive seat belt load limiters recorded a sales of ~ 230 million units in 2018, reaching a valuation of ~ US$ 3 billion, and is expected to witness healthy growth in the coming future. The market is expected to ride on the coattails of tightening automotive safety regulations. However, the high frequency of the failure of adjacent components and high replacement cost of seat belt load limiters can prove problematic for the expansion of this landscape.
Though occupant safety has gained center stage in automakers’ business strategies, which will continue to drive market growth, the demand for this component largely depends upon automotive production and sales. The volatile nature of the automotive industry may remain a major threat for stakeholders in the automotive seat belt load limiter market.
Demand to Surge in Light Commercial Vehicle Category in Asia Pacific
Since the negative effects of the Great Recession have ebbed, the automotive industry has been flourishing more in Asia Pacific than any other geographical region. The rise in automotive sales and production has contributed to Asia Pacific accounting for ~ 48% of the global sales of automotive seat belt load limiters, in 2018.
As safety features of passenger cars have always had the biggest impact on the purchasing decisions of customers, it creates a high sales potential for seat belt load limiters in various types of passenger vehicles, which accounted for 9 in 10 units of seat belt load limiters sold in 2018.
The substantial rise in the sales and production of various types of passenger vehicles, including hatchbacks, sedans, and utility vehicles in Asia Pacific is fostering business growth for market players in this category. Meanwhile, increasing growth in the industrial landscape of the region has also bolstered the sales of commercial vehicles in developing countries such as India and China.
A potential upsurge in the number of light commercial vehicles running on the roads in these countries is expected to influence the upcoming trends in the automotive seat belt load limiter space.
Sensing a drift from passenger vehicles to commercial vehicles in Asia Pacific, manufacturers are expected to capitalize on this opportunity by expanding their production capabilities of automotive seat belt load limiters used in light commercial vehicles.
Strategies to Reflect a Shift in Focus from Front to Rear Seat Belt Load Limiters
Automotive seat belt load limiters are predominantly mounted on the front seat to reduce the impact on the occupant caused by the seat belt, especially when the airbags get inflated after a crash. Also, it is the most common belief that, an occupant in the front seat of a car is more vulnerable to the impact of a road accident, which underscores the high sales volumes of automotive safety components designed for front seats.
In 2018, seven in ten automotive seat belt load limiters sold worldwide were manufactured for the front seats of vehicles. However, safety researchers in leading companies are increasing their focus on offering automotive seat belt load limiters for safeguarding occupants in rear seats as well.
Various studies conducted by researchers and market players indicate that, automotive manufacturers as well as consumers are voicing the need for better designs of seat belts with pretensioners and load limiters for the rear seats. While the demand for automotive seat belt load limiters for the front seats will continue to remain high, efforts to enhance protection for occupants in the rear seats are likely to get a boost in the coming years.
In addition, a substantial rise in the number of ongoing studies and tests to examine the safety of rear seats will remain instrumental in dictating the upcoming strategies of stakeholders in the automotive seat belt load limiter market. Leading players are expected to increase focus on innovating the designs of automotive seat belt load limiters for the front seats, and those for the rear seats to sync with this emerging trend in this landscape.
Prominent players operating in the global automotive seat belt load limiter market include Seat belt Solutions LLC, Autoliv Inc., Belt-tech, APV Safety Products, Joyson Safety Systems, ZF Friedrichshafen AG, Continental AG, Beam's Seat belts, DENSO Corporation., Goradia Industries, GWR Co., Far Europe Inc., BERGER GROUP, and TOKAIRIKA, CO., LTD.
The Automotive Seat Belt Load Limiter market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Seat Belt Load Limiter market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Seat Belt Load Limiter market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Seat Belt Load Limiter market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Seat Belt Load Limiter market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Seat Belt Load Limiter capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Seat Belt Load Limiter by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Seat Belt Load Limiter market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Seat Belt Load Limiter market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Seat Belt Load Limiter market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Seat Belt Load Limiter industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive Seat Belt Load Limiter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Seat Belt Load Limiter market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Seat Belt Load Limiter market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Seat Belt Load Limiter market. These factors have benefited the growth of the global market for Automotive Seat Belt Load Limiter. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Seat Belt Load Limiter. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Automotive Seat Belt Load Limiter are as follows:
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
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- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
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