As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The seatbelt retractor industry is being driven by the growing demand for vehicle safety and the growing prevalence of road accidents across the globe. Based on design type, three-point seatbelts accounted for a significant share in the industry owing to their superior comfort and safety. Three-point seatbelts are adjustable and flexible in nature, and, thus, are ideal for children and even pregnant women, which are driving the demand for these seatbelts. Moreover, the ongoing development activities to enhance the efficiency of seatbelt retractors are also aiding the industry growth. The manufacturers are developing automotive seatbelt retractor systems to improve child safety. For instance, in March 2019, Tool Inc, introduced a prototype seatbelt retractor developed under Small Business Innovation Research (SBIR) programme organised by the U.S. Department of Transportation, to reduce the risk of seat belt entrapment. Meanwhile, the revenue generation from aftermarket is expected to contribute to the industry growth significantly. The growing demand for the replacement of seatbelts from older vehicle models due to the development of improved and cost-effective products is boosting the market growth.
The technological advancements and the development of innovative methods to create public awareness regarding road safety are aiding the industry growth. In January 2019, Autoliv Inc. (NYSE: ALV), one of the major players in the industry, introduced Safety Score, a smartphone application to monitor real-time driver behaviour and provide the users with a personalised 3-digit safe driver score with the goal to develop safer drivers and create awareness among the people of all ages. The company is the world's largest automotive safety supplier, selling its products to all major car manufacturers across the globe. Moreover, in early 2020, Autoliv issued a series of recommendations to improve road safety in India whilst working in close collaboration with the Indian government, local authorities, and stakeholders. Such developments are expected to positively influence the growth of the seatbelt retractor industry in the forecast period.
Market Breakup by Design Type, Technology, Seat, Vehicle Type, and Regions:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global seatbelt retractor market are Tokai Rika Co. Ltd., Autoliv Inc., ZF Friedrichshafen AG, Shield Restraint Systems, Inc, and GWR Co., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.