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
- According to the report, the global automotive seat belt retractor market is expected to be determined by a range of factors having influence of industry-specific and economic aspects. The Asia Pacific automotive seat belt retractor market is expected to be at the forefront of global demand, with the ma automotive seat belt retractor market in the region expanding at a CAGR of ~ 3% between 2019 and 2027.
- Extra webbing in seat belts is gathered and stored by the automotive seat belt retractor. Most three point seat belts have a single automotive seat belt retractor that clamps the webbing for both, the lap and shoulder. There are numerous types of automotive seat belt retractors such as emergency locking retractors, automatic locking retractors, and switchable retractors, which are typically equipped in the grouping of other components of the seat belt system.
- In most cases, emergency locking retractors are employed. As the name suggests, an emergency locking retractor locks only during a sudden stop, acceleration, turn, or crash of the vehicle.
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- An automatic locking retractor (ALR) makes it possible to secure a child seat without using a seat belt locking clip. It locks the seat belt at a particular length. The automatic locking retractor helps the additional seat belt webbing to draw into the seat belt system into the retractor till the webbing is fitted around the driver’s or passenger’s hips. During that point, a bar engages a spool with the gears, and avoids further release of additional webbing.
Expansion of the Automotive Seat Belt Retractor Market
- Accidents on the roads are presently among the major reasons of deaths of young adults and children, which indicates the necessity for a change in present road safety norms. Motor vehicle accidents is currently the eighth-leading cause of deaths, worldwide.
- Reports state that, 1.35 million deaths occurred per year, which accounts for 3,700 deaths per day across the globe.
- The number of drivers and passengers who succumb to deaths in road crashes who do not use seat belts is high; which during a frontal collision avoids a major fatality. As a result, regulations on the integration of seat belt systems in vehicles are likely to boost the automotive seat belt retractor market during the forecast period.
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.
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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.
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