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Los Angeles, CA -- (SBWIRE) -- 04/19/2019 -- Market research analyst at QY Research has released another report under the domain of automobile and transportation. The report titled, "Global Active Seatbelt Market Report, History and Forecast 2014-2025," provides a thorough analysis with the inputs from industry experts. This report covers the competitive landscape and its growth prospects for the predicted period. The research report serves as a depository of analysis and information for every aspect of the market such as applications, geographical analysis, types, and market drivers and restraints.
According to the report, the global active seatbelt market is estimated to touch the valuation at US$ 330 Mn by the end of 2025 from US$ 190 Mn in the year 2018. The active seatbelt market is growing with a healthy CAGR of 8.5% over the anticipated period of 2019-2025.
Global Active Seatbelt Market: Drivers
The growing demand for passenger vehicles and rising production of vehicles are the key factors that are driving the growth of the active seatbelt market. The rising concerns towards the automotive safety among consumers, an increasing awareness towards the need for safety features, the growing adoption of active seatbelt is boosting the growth of the market in the years to come. Some of the factors such as the increasing demand for luxury vehicles, changing lifestyles, and rising per capita income are likely to fuel the demand for the active seatbelt during the forecasted period.
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Additionally, to reduce the number of accidents and to improve the overall vehicle safety, the governments across the globe are gradually focusing on the stringent regulations that demand the development of safety systems along with the cameras and sensors in the automobile. This factor is expected to propel the growth of the global active seatbelt market in the near future.
Global Active Seatbelt Market: Forecast by Segmentation
The active seatbelt market is segmented into product type and applications. On the basis of application, the market is segmented into SUV and Sedan & Hatchback. Based on the product type, the active seatbelt market is segmented into Machinery Parts, Belt, and ECU System.
Global Active Seatbelt Market: Forecast by Regions
Based on the regions, Asia Pacific is likely to grab the remarkable market share due to the higher demand and production for passenger vehicles in the region. In Europe, Germany is likely to be the most promising market due to the presence of major automobile manufacturers in the region and it is expected to be the largest contributor to the active seatbelt market in the coming years. Due to the advanced technology, North America is also likely to hold a significant market share throughout the anticipated period.
Global Active Seatbelt Market: Key Companies
Joyson, Autoliv, Continental, and ZF are the major manufacturers that are functioning in the global active seatbelt market.
Global Active Seatbelt Market: Competitive Landscape
The global market is categorized by the presence of key market vendors. The vendors are continuously working towards the key market strategies and product portfolio of the active seatbelt market. An increasing investment in Research & Development to develop products and new concepts are improving key players' revenue shares. Autoliv is expected to be the largest player during the projected period.
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