Active Seat Belt System Market to Exhibit Moderate Growth at a CAGR of 6.6% - 2030
By component, the buckle lifters segment leads the market in terms of growth rate.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 26, 2024 /EINPresswire.com/ -- The global ???????????? ???????? ???????? ???????????? ???????????? was valued at $11.9 billion in 2020, and is projected to reach $22.3 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030. Increase in consumer awareness of automotive safety, high demand for luxury vehicles and rise in automotive safety norms drive the growth of the global active seat belt system market. However, high cost of active seat belts impedes the global development of the active seat belt system market. Moreover, biosensors as an input source for future active seat belt systems and increase in passenger vehicle registration are expected to create a significant opportunity for market competitors in the coming years.
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Based on application, the passenger cars segment held the lion's share in 2020, contributing to more than three-fifths of the global active seat belt system market, and is expected to continue its lead during the forecast period. This is attributed tothe increased application of active seat belt systems in passenger cars. Moreover, this segment is expected to witness the highest CAGR of 7.5% by 2030. The report also includes an analysis of the light commercial vehicles and heavy commercial vehicles segment.
Factors such as increased consumer awareness towards automotive safety, rise in automotive safety norms, and high demand for luxury vehicles foster the growth of the global active seat belt system market. However, the high cost of active seat belts hinders the global development of the active seat belt system market. Furthermore, biosensors as an input source for future active seat belt systems and a rise in passenger vehicle registration are the significant factors anticipated to provide a remarkable growth opportunity for the players operating in the market.
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The combined effect of the seatbelt with the airbags provides the occupant with an added sense of safety and guards from further potential injury. Furthermore, it decreases the possibility of the occupants being thrown out of the vehicle. The increasing adoption of the latest technologies in passenger vehicles is the primary factor that is anticipated to boost the active seat belt system market during the forecast period.
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By region, Asia-Pacific, followed by North America, garnered the major share in 2020, contributing to nearly half of the global active seat belt system market, and is expected to dominate the market during the forecast period. This is owing to the increased production & sales of vehicles across the region. However, the LAMEA region is expected to witness the fastest CAGR of 9.0% by 2030. This is attributed to the increased demand for advanced safety systems in vehicles sold across the region.
The active seat belt system utilizes a motor that retracts seat belt webbing in critical situations before a crash occurs. It can be triggered by environmental sensors, such as radar, which provides the relative speed and distance to the vehicles ahead. The active seat belts technology uses braking and stability control sensor information to sense a potential accident. It reacts by securing the driver and passenger seat belts by removing seat belt slack so the occupant's position on the seat is improved in advance of an impending crash. In addition, it reduces some of the seat belt slack in dynamic driving situations and fatality by 45%.
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KEY FINDINGS OF THE STUDY
The passenger car segmentleads the market in terms of growth rate.
By component, the buckle lifters segment leads the market in terms of growth rate.
By region, LAMEA is projected to lead the market in terms of growth rate.
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