Global Automotive Seat Belt Retractor Market is expected to reach $36.22 billion by 2027 growing at a CAGR 6.9% during 2019 to 2027.
Some of the key players profiled in the Automotive Seat Belt Retractor Market include APV Safety Products, Belt-tech, Continental AG, DENSO Corporation, Far Europe Inc, Goradia Industries, GWR Co, Joyson Safety Systems, Seat belt Solutions LLC, Tokai Rika Co Ltd and ZF Friedrichshafen AG.
Surge in the demand for vehicle safety systems and new innovations and technologies are the major factors driving the market growth. However, increasing cost of replacement is restraining the market growth.
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The seatbelt retractor is a component of the seat belt. It consists of a gear, a spring, sensors, a pyrotechnic device, and a mechanism that locks up when the vehicle crashes or if any accidents occur. The retractor locks the seat belt in case the vehicle suddenly stops. The seatbelts are one of the mandatory components of the vehicles. They secure the driver and passengers during the crash or collision of the vehicle.
Based on technology, the emergency locking retractors segment is likely to have a huge demand. The growth of this segment is mainly attributed to the integration of this technology with maximum vehicles and its effectiveness. Manufacturers are vying towards increasing the production of emergency locking retractors.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to rising sales of premium and luxury vehicles. Additionally, the high production volumes of vehicles in developing countries such as China, India, and Japan have created avenues of growth for the market.
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Vehicle Types Covered:
• Commercial Vehicles
• Passenger Cars
• Automatic Locking Retractors
• Emergency Locking Retractors
• Switchable Retractors
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
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– Strategic recommendations in key business segments based on the market estimations
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– Supply chain trends mapping the latest technological advancements
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