Seat belt retractors were announced when conventional seat belts no longer served the need for safety. The necessity for enhanced security drove the way for innovations intended to improve the comfort and safety aspect for the occupants. The growth of seat belt retractor market can be attributed to rising adoption of safety measures in passenger cars, as well as commercial vehicles in developing countries. The ongoing developments in seatbelts technology, such as intelligent seatbelts with motorized retractor, and added comfort features, are key areas where dominant market players are investing.
MARKET SCOPE
The "Global Seat Belt Retractor Market Analysis to 2028" is a specialized and in-depth study of the Seat Belt Retractor market with a special focus on the global market trend analysis. The report aims to provide an overview of Seat Belt Retractor market with detailed market vehicle type, technology, seat, and geography. The global Seat Belt Retractor market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Seat Belt Retractor market players and offers key trends and opportunities in the Seat Belt Retractor market.
MARKET SEGMENTATION
- On the basis of vehicle type, the market is segmented as passenger vehicles, light commercial vehicles, heavy commercial vehicles.
- On the basis of technology, the market is segmented as emergency locking retractor, automatic locking retractor, and switchable retractor.
- On the basis of seat, the market is segmented as front and rear.
MARKET DYNAMICS
Drivers:
- Increase in the demand for occupant safety
- Innovations intended to improve the comfort and safety aspect for the occupants
- Progressing towards success in conjunction with the surge in the production of vehicles.
Restraint -
- Product quality issues may hamper the growth of key market players
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Seat Belt Retractor market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Seat Belt Retractor market in these regions.
IMPACT OF COVID-19 ON SEAT BELT RETRACTOR MARKET
The impact of the pandemic extends to all segments of the automotive and transportation industry, including Seat Belt Retractor manufacturers. As a result of factory shutdowns and supply chain disruptions due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. For instance, the global vehicle production in 2020 slumped to 77,621,582 from 91,786,861 in 2019. However, as the lockdown measures start getting lifted, the demand for passenger cars with improved safety features is expected to rise. Since Seat Belt Retractors are one of the vital components of safety features in passenger cars as well heavy duty commercial vehicles, the market of Seat Belt Retractor is expected to regain momentum. Various governments are creating a positive ecosystem for the development of automotive industry in their country. For instance, in 2021, the Union Cabinet of India outlaid Rs. 57,042 crore (US$ 7.81 billion) for automobiles and auto components sector in production-linked incentive (PLI) scheme under the Department of Heavy Industries. Therefore, the short and mid-term impact of COVID-19 on the global market were largely negative, and initiatives taken by governments for auto industry are likely to stabilize the market's growth.
MARKET PLAYERS
The reports cover key developments in the Seat Belt Retractor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Seat Belt Retractor market are anticipated to lucrative growth opportunities in the future with the rising demand for Seat Belt Retractor market. Below mentioned is the list of few companies engaged in the Seat Belt Retractor market.
The report also includes the profiles of key Seat Belt Retractor market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Ashimori Industry Co., Ltd
- Australian Performance Vehicles Pty Ltd.
- Autoliv Inc.
- Beam's Seatbelts
- Goradia Industries
- GWR Co
- Safety Belt Solutions Ltd
- SECURON
- TOKAIRIKA, CO, LTD.
- ZF Friedrichshafen AG
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