Automotive Seat Belt Market Trend Evaluation with covid-19 impact.
June 10, 2020
Automotive Seat Belt Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Automotive Seat Belt Market is no different. Derived from the previous market scenario, the Automotive Seat Belt Market was expected to grow at 3.1% CAGR but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
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The Diverse Stand Point:
The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Seatbelt has been viewed from various perspectives such as:
- By Vehicle Type (Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, M&HCV, Others)
- By Technology Type (Retractor, Pre-Tensioner, Active Seatbelt, Load Limiter, Bag-in-Belt, Other Belt)
- Application Type (Two-Point Belt, Three-Point Belt, Four-Point Belt, Five-Point Belt, Six-Point Belt, Belt-in-Seat)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Seatbelt Market Segment Insights:
The automotive seat belt market is segmented by vehicle type: Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, M&HCV and Others. Compact car is expected to remain the largest seat belt market by vehicle type in the global automotive industry during the forecast period. The vehicle type is also likely to register the fastest growth for the same period.
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https://www.stratviewresearch.com/toc/129/automotive-seat-belt-market-trend.html
Based on the seat belt application type, the automotive seat belt market is segmented as Two-Point Belt, Three-Point Belt, Four-Point Belt, Five-Point Belt, Six-Point Belt, Belt-in-Seat, and Other Seat Belts. Three-Point seat belt is expected to remain the largest global automotive seat belt type during the forecast period and is also expected to register the fastest growth for the same period. Three-Point seat belt is widely preferred across the vehicle type because of its advantage of safer journey by providing a grip diagonal as well as over the lap.
Autoliv AB, ZF TRW Automotive Holdings Corp., Takata Corporation, Tokai Rika Co. Ltd., Key Safety Systems, and Hyundai Mobis Co. Ltd. are the major seat belt manufacturing companies occupying majority of the share in the global automotive seat belt market. These players are likely to remain predominant over the next five years as well. New product development, an advancement in seat belt technology, and long term contract with automakers are the key strategies adopted by the key players to gain a competitive edge in the market.
Asia-pacific tends to remain the largest automotive seat belt market during the forecast period as the region is the largest producer of automobiles. China, Japan, India, South Korea, and Thailand being the major markets. China and India are expected to remain the growth engines of the region. Both the countries are also introducing new stringent safety norms which ultimately increases the demand for seat belts in an automobile. RoW is expected to register the fastest growth during the forecast period, driven by upcoming assembly plants in the Middle East and Latin America and increasing seat belt penetration per car in the region.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Covid-19 Impact Assessment
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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