Automotive Seat Belt Retractor Market Size, Share, Growth, Trends, Production, Consumption and Forecast 2019 to 2026

Published Date : Jan 2020 | No. of Pages : 140 Pages | Category :

​The global automotive seat belt retractor market size is poised to reach around US$ 8 Bn by 2026, expanding at a CAGR of 3% during the forecast period 2019 to 2026.

Evolution and Future Prospects of the Automotive Seat Belt Retractor Market

The automotive seat belt retractor market has come a long way since the discovery of retractable seat belts in late 1955. Seat belt retractors were introduced when conventional seat belts no longer sufficed the need for safety. The need for enhanced safety drove the way for innovations, aimed at enhancing the safety aspect and comfort for the occupants. New seat belt retractor technologies have been evolving ever since, with the development of TRW’s next-generation SPR4 'snake pretensioner' in 2013, to the introduction of ZF Friedrichshafen AG’s active control retractor in 2018. The market is graduating towards success in conjunction with the increase in the production of vehicles. Market sales volume for automotive seat belt retractors was 426 Mn units in 2018, and the market is projected to rise at a CAGR of ~ 3% during the forecast period.

We live in an era where our lives are highly dependent on automobiles. This essentially calls for the need to enhance the safety infrastructure in automobiles, considering the rising number of vehicle users across the world. Road traffic injury is currently the leading cause of deaths among children and young adults. With seat belts being an essential aspect of road safety, governments across the world have mandated their use. However, despite these regulations, many individuals refrain from using seat belts, considering it an inconvenience. This notion is gradually changing with the shift in consumer perspective from 'convenience' to 'safety', boosting the growth opportunities for the automotive seat belt retractor market. The automotive seat belt retractor market also derives its strength from aftermarket sales, as consumers are keen on replacing old and defective parts of seat belts.

However, the development of vehicles with advanced safety measures may lead to ignorance in the use of seat belts. This essentially means that, although 'quantity' may drive growth, it is 'quality' that will drive consumer attention. That being said, manufacturers are cashing in on this opportunity by developing new technologies and working on enhancing overall user experience. Assessing the rise in lucrative opportunities for the automotive seat belt retractor market, due to incessant expansion in the automotive industry and stringent government laws, TMR conducted an extensive analysis on the market. In its latest study, TMR talks about how changes in consumer preferences and rising innovations impact the business strategies deployed by key enterprises in this market space.

Automotive Seat Belt Retractor Market: Introduction

  • According to the report, the global automotive seat belt retractor market is expected to be determined by a range of factors having influence of industry-specific and economic aspects. The Asia Pacific automotive seat belt retractor market is expected to be at the forefront of global demand, with the ma automotive seat belt retractor market in the region expanding at a CAGR of ~ 3% between 2019 and 2026.
  • Extra webbing in seat belts is gathered and stored by the automotive seat belt retractor. Most three point seat belts have a single automotive seat belt retractor that clamps the webbing for both, the lap and shoulder. There are numerous types of automotive seat belt retractors such as emergency locking retractors, automatic locking retractors, and switchable retractors, which are typically equipped in the grouping of other components of the seat belt system.
  • In most cases, emergency locking retractors are employed. As the name suggests, an emergency locking retractor locks only during a sudden stop, acceleration, turn, or crash of the vehicle.
  • An automatic locking retractor (ALR) makes it possible to secure a child seat without using a seat belt locking clip. It locks the seat belt at a particular length. The automatic locking retractor helps the additional seat belt webbing to draw into the seat belt system into the retractor till the webbing is fitted around the driver’s or passenger’s hips. During that point, a bar engages a spool with the gears, and avoids further release of additional webbing.

The global automotive seat belts retractor market has been segmented based on technology, seat, vehicle, and region.

Based on technology, the emergency locking retractors segment accounted for a prominent share of the automotive seat belt retractor market. Preference of manufacturers to install pretensioners and load-limiters in collaboration with emergency locking retractors has boosted the emergency locking retractors segment in the automotive seat belt retractor market. High effectiveness of emergency locking retractor seat belts is a key factor propelling their penetration in most passenger vehicles. The switchable retractors segment follows the emergency locking retractors segment, in terms of automotive seat belt retractor market share. These segments are likely to expand at significant growth rates in the automotive seat belt retractor market during the forecast period, due to the rising penetration of automotive seat belt retractors in mid-segment vehicles. The market share held by the automatic locking retractors segment is estimated to decline in the automotive seat belt retractor market, as the locking up of webbing prevents comfortable movement of the occupants.

Based on seat, the rear seats segment is likely to account for a prominent share of the automotive seat belt retractor market, as the volume of seat belts required is higher in rear seats, owing to various types of vehicles considered in the research, which have a higher number of occupancy space for rear seats, such as SUVs and MPVs. Occupants on the front seats have relatively more space and a little more time for the locking of retractors, as compared to rear seats, during an impact or collision. Several other safety features or equipment are installed or fitted in the front portions of vehicles, rather than the rear seats, even in base segment vehicles.

In terms of vehicle, the passenger vehicle segment accounted for a notable share of the automotive seat belt retractor market, as SUVs, a sub-segment of the passenger vehicles segment, are popular in Asia Pacific, and are a major contributor to the passenger vehicles segment. The sales of light commercial vehicles are rising, particularly in the U.K. and the Rest of the European sub-region. Consequently, the light commercial vehicles segment is expected to expand in the automotive seat belt retractor market during the forecast period.

Automotive Seat Belt Retractor Market: Regional Analysis

In terms of region, Asia Pacific dominated the global automotive seat belt retractor market due to the high production capabilities of China, India, South Korea, and Japan. The automotive seat belt retractor markets in countries in Asia Pacific and Latin America such as India, Mexico, Argentina, and Chile, are expected to expand at notable growth rates during the forecast period, due to the rising demand for vehicles in these countries. Asia Pacific is witnessing high economic growth. The demand for commercial vehicles is anticipated to rise, which, in turn, is estimated to propel the demand for automotive seat belt retractors in the region.​

Kay players

Prominent players operating in the global automotive seat belt retractor 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.

Product differentiation and creating a brand identity remain the preferred growth strategies among players in the automotive seat belt retractor market. Apart from this, market players rely on mergers and acquisitions, expansion of production units, and penetration in regional markets to gain an upper-hand in this market space.

Buyers in the market hold immense bargaining power, owing to the presence of a large number of established players with diverse portfolios and technologies. The intensity of competition among suppliers has increased, due to the soaring production of vehicles. However, the demand for advanced systems such as active seat belts is likely to enhance their bargaining power. There is a moderate threat of new entrants, as the incumbents have already established a brand identity in specific regions. New entrants can gain access to the market due to low initial investments that are required.

Drivers of the Automotive Seat Belt Retractor Market

An automotive seat belt retractor is installed in automotive seat belts to gather and store extra webbing in the seat belt.

  • Surge in the demand for vehicle safety systems has led to the development of seat belts with advanced technology. Increasingly stringent safety standards are driving the automotive seat belt market, which, in turn, is likely to boost the automotive seat belt retractor market.
  • Increase in first-time consumers in several emerging and developing countries, due to the rise in per capita income, spurs vehicle production in countries such as India, Brazil, and those in ASEAN. This, in turn, propels the demand for automotive seat belt retractors.
  • Initiatives undertaken by the governments of India and China are estimated to boost vehicle production in these countries, which, in turn, is estimated to fuel the demand for automotive seat belt retractors in these countries.
  • Economies in ASEAN are developing at a significant pace. Hence, the demand for transportation is high in this sub-region, which, in turn, is driving the automotive industry in ASEAN, and consequently, boosting the demand for seat belt systems and automotive seat belt retractors. Increase in the demand for occupant safety is a primary driver of the automotive seat belt retractor market.

The global automotive seat belt retractor market has been segmented as follows:

  • By Technology
    • Emergency Locking Retractors
    • Automatic Locking Retractors
    • Switchable Retractors
  • By Vehicle
    • Passenger Vehicles
      • Hatchbacks
      • Sedans
      • Utility Vehicles
    • Commercial Vehicles
      • LCVs
      • HCVs
    • Global Automotive Seat belt Retractor Market by Seat
      • Rear
      • Front
    • By Region
      • North America
        • U.S.
        • Canada
      • Europe
        • Germany
        • France
        • U.K.
        • Spain
        • Italy
        • Rest of Europe
      • Asia Pacific
        • Japan
        • China
        • India
        • Rest of Asia Pacific
      • Middle East & Africa
        • GCC
        • South Africa
        • Rest of Middle East & Africa
      • Latin America
        • Brazil
        • Mexico

The report analyzes and forecasts the automotive seat belt retractor market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. 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 comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive seat belt retractor market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the automotive seat belt retractor market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides size (in terms of volume and value) of automotive seat belt retractor market for the base year 2018 and the forecast between 2019 and 2026. 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.

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- 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

Research Methodology:

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.

The study objectives of this report are:

  • To analyze and study the global automotive seat belt retractor capacity, production, value, consumption, status (2014-2018) and forecast (2019-2026);
  • Focuses on the key automotive seat belt retractor manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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