Emergency Locking Retractor Seatbelt Market: Introduction

  • Surge in demand for vehicles with enhanced occupant safety features is fueling the demand for seatbelt systems enabled with emergency locking retractors. Rising rates of vehicle crashes is likely to encourage people to buy vehicles from an automaker who provide vehicles with active safety systems and passive safety systems, including occupant safety systems including airbags, seatbelts, emergency braking systems, and electronic stability control systems.
  • Seatbelts are necessary in vehicles in order to offer protection to vehicle occupants and restraining them from crashing into steering, windshield, or vehicle seats during a vehicle crash. The emergency locking retractor inbuilt in a vehicle seatbelt system is responsible for locking of the seatbelt in case the sensors in the seatbelt retractor sense sudden deceleration of the vehicle.

Key drivers of global emergency locking retractor seatbelt market

  • Increasing demand to reduce the number of accidental fatalities worldwide is further driving the global emergency locking retractor seatbelt market. According to WHO, approximately 1.35 million people lost their lives in road accidents in 2018. WHO guidelines on safe vehicle travel encourages all vehicle occupants to wear seat belts, as the risk of death reduces by 45% to 50% for the driver and front seat occupant and by 25% for occupants in the rear seat. The emergency locking retractor engages in the event of sudden vehicle deceleration and locks the seat belt, restraining the occupant in vehicle seat and preventing him/her from crashing into the steering, windshield, or seat in front.
  • Furthermore, government regulations are mandating automakers to install seatbelts in vehicles. According to report published by WHO, 105 countries worldwide have regulations for mandatory use of seatbelts (restraint systems). For instance, regulations by government authorities, including NHTSA, U.S.; SAERO, India and U.K. Department of Transportation, have mandated installation of seatbelts in all vehicles. In case of failure of emergency locking retractor or any other component of seatbelts systems, automakers advise to change the whole seatbelt system in order to ensure safety. Therefore, increasing adoption of seatbelts in vehicles is further boosting the global emergency locking retractor seatbelt market.

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Passenger vehicle segment to dominate the global emergency locking retractor seatbelt market

  • Rising penetration of SUV vehicles, globally, is driving the emergency locking retractor seatbelt market. For instance, in 2018, global volume of SUV sale was 29.77 million units, i.e. an increase by 6.8%, as compared to SUV sales of 27.88 million units in 2017. Moreover, a rise in disposable income is likely to increase the purchasing capacity of automotive customers, which indicates a shift in trend toward owning a vehicle. Furthermore, various automakers, in collaboration with government and financial entities are offering vehicles at lucrative prices in order to resolve the global slowdown of vehicle sales witnessed in 2019. The aforementioned factors are fueling the global emergency locking retractor seatbelt market.

Europe and Asia Pacific to account for significant share of global emergency locking retractor seatbelt market

  • Joint ventures among automakers and several government initiatives, such as tax reforms, subsidies for vehicle buying in countries including India and China in Asia Pacific in order to boost vehicle production, are estimated to fuel the emergency locking retractor seatbelt market in the region. Furthermore, research and developments on reducing the reaction time for emergency locking retractor in vehicle seatbelt systems are propelling the global emergency locking retractor seatbelt market.
  • Automakers are slashing vehicle prices in response to the slowdown of vehicle sales witnessed globally. This, in turn, is fueling vehicle sales. All the aforementioned factors are anticipated to propel the emergency locking retractor seatbelt market in Asia Pacific.
  • Furthermore, Europe witnesses significant sales of luxury and sedan type passenger vehicles. Implementation of safety standards by the European Commission and several government organizations across Europe are likely to mandate automakers to improve vehicle safety. Therefore, vehicles sold in Europe are pre-equipped with safety features, including emergency locking retractors. Vehicle standards mandating the use of vehicle seat belts are further driving the emergency locking retractor market in Europe.

Key players operating in global emergency locking retractor seatbelt market

The global emergency locking retractor seatbelt market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global emergency locking retractor seatbelt market are:

  • Autoliv Inc.
  • Belt-tech
  • APV Safety Products
  • ZF Friedrichshafen AG
  • BERGER GROUP
  • Continental AG
  • Beam's Seatbelts
  • DENSO Corporation
  • Goradia Industries
  • GWR Co.
  • Joyson Safety Systems
  • Far Europe Inc.
  • Seatbelt Solutions LLC
  • Hornling Industrial Inc.
  • Wesco Performance Inc.
  • TOKAIRIKA, CO., LTD.

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Global Emergency Locking Retractor Seatbelt Market: Research Scope

Global Emergency Locking Retractor Seatbelt Market, by Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

Global Emergency Locking Retractor Seatbelt Market, by Propulsion Type

  • Internal Combustion Engine (ICE)
  • Hybrid
  • Electrical

Global Emergency Locking Retractor Seatbelt Market, by Application

  • Front Seat
  • Rear Seat

Global Emergency Locking Retractor Seatbelt Market, by Sales Channel

  • OEMs
  • Aftermarket

Global Emergency Locking Retractor Seatbelt Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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