Transparency Market Research has published a new report on the global automotive seat belt retractor market for the forecast period of 2019–2027. According to the report, the global automotive seat belt retractor market is projected to reach a valuation of ~ US$ 8 Bn by 2027, expanding at a CAGR of ~ 3% during the forecast period.
Automotive Seat Belt Retractor Market: Introduction
Expansion of the Automotive Seat Belt Retractor Market
In terms of technology, the global automotive seat belt retractor market has been divided into emergency locking retractors, automatic locking retractors, and switchable retractors. The emergency locking retractors segment is likely to hold a prominent share of the automotive seat belt retractor market, as most manufacturers prefer installing a pretensioner and load limiter along with the emergency locking retractor unit, as a combination of the emergency locking retractor, pretensioner, and load limiter possesses a higher retraction force to hold the occupant firmly on the seat.
Automatic locking retractors is another preferred combination for installing seat belt retractors after emergency locking retractors. In some vehicles, the automatic locking retractor, pretensioner, and load limiter are used to retract the seat belt in case of sudden deceleration of the vehicle.
Based on seat, the automotive seat belt retractor market has been divided into rear and front seats. The front seats segment is anticipated to garner significant share of the market, even though the volume is less, as retractors are integrated in the front seats and cost more. Advanced technology seat belts and their introduction in vehicles are likely to propel the automotive seat belt retractor market during the forecast period. The number of seats at the rear of a vehicle is more than that in the front; hence, the rear seats segment accounted for a higher share of the automotive seat belt retractor market in 2018.
In terms of vehicle, the automotive seat belt retractor market has been divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Increasing demand for light commercial vehicles due to increasing capital investments in small and medium enterprises is anticipated to boost the light commercial vehicles segment, which in turn is likely to boost the seat belt retractor market during the forecast period.
Regional Analysis of the Automotive Seat Belt Retractor Market:
Prominent players operating in the global automotive seat belt retractor market include Seat belt Solutions LLC, Autoliv Inc., Belt-tech, APV Safety Products, Joyson Safety Systems, ZF Friedrichshafen AG, Continental AG, Beam's Seat belts, DENSO Corporation., Goradia Industries, GWR Co., Far Europe Inc., BERGER GROUP, and TOKAIRIKA, CO., LTD.
The global automotive seat belt retractor market has been segmented as follows:
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