Active Seat Belt System Market Size Demonstrates Immense Growth Potential with Staggering CAGR Value by 2023 – Industry Trends and Forecast Report
The active seat belt technology assists vehicle occupants to locate the buckle easily to fasten it. In addition, this safety component reduces some of the seat belt slack in dynamic driving situations, as well fatality by 45%. It further decreases the possibility of the occupants being thrown out of the vehicle. The combined effect of the seatbelt with the airbags provides the occupant with an added safety and guards from further potential injury.
The global active seat belt system market is driven by surging automotive safety norms and regulations, increased consumer awareness towards automotive safety, growth in demand for luxury vehicles, and high incidence of road accidents. However, the high cost associated with active seat belt is expected to impede the market growth. Furthermore, boost in passenger vehicle registration and use of biosensor as an input source for future active seat belt systems are expected to present numerous opportunities for market expansion.
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Companies Covered in this Report are:
Far Europe Holding Limited
Hyundai Mobis Co., Ltd.
Ningbo Joyson Electronics Corp. (Key Safety Systems, Inc.)
Tokai Rika Co., Ltd.
Toyoda Gosei Co., Ltd.
ZF Friedrichshafen AG.
The active seat belt system market is segmented based on component, application, and region. Based on component, it is divided into retractors, pretensioners, and buckle lifters. The applications included are passenger cars and commercial vehicles. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market are Autoliv, Inc., Continental Corporation, DENSO Corporation, Far Europe Holding Limited, Hyundai Mobis Co., Ltd., Ningbo Joyson Electronics Corp. (Key Safety Systems, Inc.), Takata Corporation, Tokai Rika Co., Ltd., Toyoda Gosei Co., Ltd., and ZF Friedrichshafen AG.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the global active seat belt system market with current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers.
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