The North America Automotive Seat Belt Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030).
The automotive industry endorses accelerated safety feature advancements. The primary objective of implementing these features is to enhance transportation's comfort, safety, and efficiency. Seat belts are an integral component of automobiles. Seat belts are designed to protect drivers from injury in an accident. Automotive seat belts minimize contact between occupants and the vehicle, reducing the risk of the driver being propelled out of the vehicle in an accident. It assists passengers in maintaining their posture, particularly during sharp turns.
Rising automobile sales and production, as well as increasing consumer disposable income, are the primary forces propelling the development of the market. However, fluctuations in commodity prices may moderate the growth of the market.
The market is propelled by the rising demand for luxury automobiles and the growing use of advanced technology-inflated seat belts in developed and developing countries. These seat belts function as mini-airbags and protect rear-seat passengers from front-seat-related head injuries in the event of an accident. In addition, they serve as a cushion for bones of adults and children, preventing the collar bones from fracturing or cracking. Due to rising demand for inflated seat belts in passenger cars, particularly luxury vehicles, the market is expected to grow during the forecast period.
Canada has comprehensive seat belt laws requiring all vehicle occupants to wear seat belts. These laws mandate seat belt usage for front and rear-seat passengers, regardless of age or vehicle type. Canadian law enforcement agencies actively enforce seat belt laws. Violators can face fines and penalties, and law enforcement officers are authorized to stop vehicles solely for seat belt violations, which is a strong deterrent. This level of enforcement encourages consistent seat belt usage. Due to the above-mentioned factors, the market will expand significantly in this region.
The US market dominated the North America Automotive Seat Belt Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,850.9 Million by 2030. The Canada market is experiencing a CAGR of 8.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.6% during (2023 - 2030).
Based on Type, the market is segmented into Three-point, and Five-point. Based on Vehicle Type, the market is segmented into Passenger Cars, and Commercial Vehicles. Based on Distribution Channel, the market is segmented into OEM, and Aftermarket. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Automotive Seat Belt Market is Predict to reach $20.2 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GWR Safety Systems, Joyson Safety Systems Aschaffenburg GmbH, ZF Friedrichshafen AG, Autoliv, Inc., Hyundai Mobis Co., Ltd. (Hyundai Motor), Robert Bosch GmbH, Volvo Group, Tokai Rika Co., Ltd., Continental AG and Holmbergs Safety System Holding AB.
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