Active Seat Belt System Market to Reach $12.7 Bn, Globally, by 2023 at 3.6% CAGR - Allied Market Research

News provided by

Nov 19, 2018, 08:30 ET

PORTLAND, Oregon, November 19, 2018 /PRNewswire/ --

Growing awareness among consumers about automotive safety, high demand for luxury vehicles, and increase in the number of road accidents drive the growth of the global active seat belt system market

Allied Market Research published a report, titled, Active Seat Belt System Market by Component (Retractors, Pretensioners, and Buckle Lifters) and Application (Passenger Cars and Commercial Vehicles) - Global Opportunity Analysis and Industry Forecast, 2017-2023. The research offers detailed analyses of the industry dynamics, key investment pockets, major market segments, and competitive landscape. According to the report, the global active seat belt system market generated $10.3 billion in 2017, and is expected to reach $12.7 billion by 2023, growing at a CAGR of 3.6% from 2017 to 2023.

(Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg )

Increase in the number of awareness campaigns to promote automotive safety and rise in the number of road accidents drive the growth of the market. Moreover, high demand for luxury vehicles supplements the market growth. However, high cost associated with active seat belts restrains the growth of the industry. Conversely, increase in passenger vehicle registration and emergence of biosensors create new opportunities for the market.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2318

Pretensioners segment to remain dominant by 2023

Pretensioners segment accounted for nearly half of the total market share in 2017 and is expected to remain dominant throughout the forecast period. This is due to the growing need for passenger protection and reduction of slack between the body of passenger and seat belt. However, buckle lifters segment would grow at the highest CAGR of 5.7% from 2017 to 2023, owing to the ease offered for buckling and improved protection. The retractors segment is projected to grow at a moderate rate during the forecast period.

Passenger cars segment to maintain its lead throughout the forecast period

Passenger cars segment contributed nearly three-fourths of the total market share in 2017, owing to ease in parking, good gas mileage, and lower cost of cars in comparison to larger vehicles. This segment would maintain its lead by 2023. However, commercial vehicles would grow at the fastest CAGR 4.3% from 2017 to 2023 due to enhanced safety & security and improved fuel efficiency.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/2318

Asia-Pacific to maintain its lion's share during the forecast period

Asia-Pacific contributed more than half of the total market share in terms of revenue in 2017, owing to stringent regulations by governments in countries such as China and Japan and strict compliance to safety rules. This segment will maintain its lion's share during the forecast period. However, LAMEA region would register the fastest CAGR of 5.4% from 2017 to 2023, owing to reduction in traffic-related fatalities and rise in focus on safety.

Frontrunners of the industry

The leading market players analyzed in the research include Autoliv, Inc., DENSO Corporation, Continental Corporation, Hyundai Mobis Co., Ltd., Far Europe Holding Limited, Takata Corporation, Ningbo Joyson Electronics Corp. (Key Safety Systems, Inc.), Toyoda Gosei Co., Ltd., Tokai Rika Co., Ltd., and ZF Friedrichshafen AG. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Purchase an enterprise user license and get 1 month complimentary access to our Knowledge Tree subscription. Offer valid till 15th November 2018. (*Terms and Conditions apply)

Get subscription: https://www.alliedmarketresearch.com/checkout/929827

Automotive Biometric Market - Global Opportunity Analysis and Industry Forecast, 2018 - 2024

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]