LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global automotive active seat belt system market to grow at a CAGR of close to 13% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global automotive active seat belt system market for 2017-2021. The market size has been derived based on active seat belt systems’ penetration in the overall passenger cars market.
|The global automotive active seat belt system market size is expected to grow to 41.37 million units by 2021. EMEA will be responsible for generating the highest incremental growth in the forecast period.|
The swift growth of the market in EMEA is driven by the region’s car market standardizing seat belts in several car variants, leading to rapid adoption of the product. Additionally, the region is also home to several high-end passenger car brands such as Mercedes-Benz, who equip all their cars with active seat belt systems.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global automotive active seat belt system market:
- Prioritization of occupant safety across value chain
- Growing significance of crash tests and NCAP ratings
- Regulatory push toward use of active safety systems
Prioritization of occupant safety across value chain
“Passenger safety is a top priority for every vendor in the automotive industry, leading to the increased embracement of active and passive safety systems in an automobile. Manufacturers are improving the integration of passive and active safety systems such as airbags, seat belts, and advanced emergency braking systems to help improve road safety,” says Siddharth Jaiswal, one of the lead analysts at Technavio for automotive manufacturing research.
The increasing emphasis on safety systems has resulted in very healthy growth rates of the overall automotive safety systems market. With the increasing emphasis on safety systems, Technavio expects active seat belts to be considered as a standard fitment in vehicles.
Growing significance of crash tests and NCAP ratings
Globally, governments disclose crash test ratings of individual automobiles for the benefit of automobile manufacturers, customers, and vendors. With the growing acceptance of safety certifications, automotive manufacturers are manufacturing vehicles that are compliant with these safety standards. The NCAP ratings for each tested automobile is a comprehensive summary of its pedestrian protection, occupant protection, and child protection systems. As active seat belts accept inputs from the in-vehicle active safety systems, the new NCAP programs drive the market for active safety systems.
Regulatory push toward use of active safety systems
“Advanced driver assistance systems and safety systems aid in minimizing fatalities, reducing the number of collisions, and improving overall vehicle safety. Governments across the globe are trying to implement safety regulations for the development of safety systems in integration with sensor systems and cameras,” says Siddharth.
The active safety systems and multiple sensing technologies in automotive vehicles contribute towards the enhancement of functionality of collision avoidance and crash avoidance systems. As consumer awareness regarding systems increase, combined with a push by regulatory mandates, the penetration rates of these safety systems in the automotive market will grow.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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