Seatbelt Retractor Market: Introduction

Seatbelts are extremely important components of an automobile from the safety point of view. In times of accidents, seatbelts can prove to be life saviors. It is advisable to the drivers as well as passengers to wear the seatbelts while driving because seatbelts act as safeguards at the time of accidents. The work of a seatbelt retractor is to store the webbing that is not being used and at the time of a crash, lock the webbing. Modern retractors consist of two types of independent sensors, which are vehicle sensors and webbing sensors. These sensors ensure high reliability. A spool is present as a central element in the seatbelt retractor assembly. At one end of the webbing, spindle (or spool) is attached. Spring is used to provide the rotational force.

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Seatbelt Retractor Market: Dynamics

With increasing awareness about the automobile safety measures and the increasing demand for safety systems in the automobiles that are better than the traditional ones, the demand for seatbelt retractors is expected to go up. The rise in automotive production activities and the advancement in the technology related to the seatbelt assembly have led to the growth of Seatbelt Retractor Market.

The introduction of strict safety measures as well as the standards related to the safety of the passengers and the driver in the automobile set by the governments of certain countries are also likely factors that will drive the growth of the Seatbelt Retractor Market. In recent years, compact cars have become the fastest selling segment of the automobile industry. This rise in production of the compact cars is likely to provide a boost to the Seatbelt Retractor Market.

Increasing number of casualties in the road accidents worldwide is a reason for concern that will lead to growth in the Seatbelt Retractor Market in the forecast period 2017 to 2021. Also, seeing this growth, huge investments are being made in the Automotive Seatbelt Market that will eventually lead to the growth in the Seatbelt Retractor Market.

A major factor that is likely to restrain the growth of the Seatbelt Retractor Market is the high cost of the new and advanced seatbelt retractors that are soon replacing the traditional retractors in the automobiles.

 Seatbelt Retractor Market: Segmentation

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Seatbelt Retractor Market: Regional Outlook

The Asia Pacific and the North America regions are expected to hold their position as the highest revenue shareholders in the Seatbelt Retractor Market in the forecast period 2017 to 2021. The Asia Pacific region owes the growth in the Seatbelt Retractor Market to the increasing cases of road accidents and implementation of the measures related to road safety.

Also, the increasing demand for the production of compact cars in countries of the Asia Pacific region, such as Japan, China, and India has led to a boost in the growth of the Seatbelt Retractor Market in the Asia Pacific region. Countries like India, China, South Korea, Thailand, and Japan are the major markets for the seatbelt retractors in the Asia Pacific region. Asia Pacific region is gradually being called the hub of automobile production.

Assembly plants for the seatbelts are being set up at a very fast pace in the Latin America and the Middle East regions. Owing to this factor, Latin America and the Middle East region is also expected to see a high growth rate in the Seatbelt Retractor Market in these regions. In the Europe region, Germany is a major market of seatbelt retractors. This is because of the presence of major automobile manufacturers in this region.

 Seatbelt Retractor Market: Key Players

Some of the major players of the Global Seatbelt Retractor Market are:-

• Tokai Rika Co. Ltd.
• Autoliv Inc.
• Hyundai Mobis Co. Ltd.
• ZF TRW Automotive Holdings Corp.
• Toyoda Gosei Co. Ltd.
• Takata Corporation
• Key Safety Systems Inc.
• Robert Bosch GmbH
• Denso Corporation
• Continental AG

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Related Reports:

• Automotive Seats Market

  Automotive Seats Market is set to surpass and to be valued at US$ 74.19 Bn by 2025 in terms of sales.

• Automotive Seat Belt Market

  Global automotive seatbelt market is expected to reach a valuation of US$ 7.5 Bn in 2021 and is estimated to expand at approximately 6.5% CAGR from 2021-2031.

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