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Seat belts are the highly effective safety technology that has saved numerous lives from vehicle collision over the years. While the pretensioners and load limiters are emerging technologies that are mainly designed to increase the effectiveness of the seat belts. Load limiters helps to protect occupants from seatbelt-imposed injury and the pretensioner restrains the occupant until certain amount of force is applied during the event of a crash. At this situation, the load limiter releases webbing gradually so as not to apply much force on the chest of the occupant. Also, during the event of abrupt deceleration or acceleration, the seat belt pretensioner and load limiter holds passenger as well as the driver firmly to the seats particularly during the start and end of collision. The more number of recent vehicles are being equipped with seat belts pretensioner as well as load limiters.
The market for seat belt pretensioner and load limiter is expected to reach rise at a CAGR of 6.2 percent during the forecast period. The rising demand to maintain a safe road along with the enhanced driver comfort fuels growth of the seat belt pretensioner and load limiter market.
Mainly the human errors causes the accidents; however, the main cause of these accidents are vehicle distraction while driving, over speeding, non-adherence to traffic signals, driving after consuming alcohol, and poor lane discipline. Though, excessive speed of the vehicle is the major factor for road accidents. Even is the passenger is using the seat belt, there is a great need for improvement in such systems. Thus, need to maintain a safety of the passenger as well as the driver fuels demand for seat belt pretensioner and load limiter. Seat belt pretensioners and load limiters gets activated during side accidents, rear accidents, frontal accidents, and rollover accidents. In addition to this, a flourishing passenger cars market across the globe; and the strict regulations relating to the vehicle safety in regions such as North America and Europe fuels growth of the global seat belt pretensioner and load limiter market.
However, the fact that the seat belt pretensioner and load limiter needs additional cost of deployment with the seat belts hampers growth of the market. In addition, lack of awareness about this technology in regions such as developing countries around the globe where its use is only limited to the luxury vehicles is anticipated to hinder market growth. On the other hand, emergence of electronic or pyrotechnic seat belt pretensioner and load limiter system is expected to provide lucrative growth opportunities for the market.
Throughout the forecast period, passenger vehicle will continue to hold a dominant share of the global market, on the basis of vehicle type. This is due to upsurge in demand for high engine power vehicles and SUVs (sport utility vehicle). However, the light commercial vehicle segment is anticipated to witness highest growth rate during the forecast period. This is attributed to the ongoing mandates by the governments around the globe to improve vehicle safety on the road.
According to the sales channel, the OEM segment is expected to hold a dominant share of the global market. Demand from consumers, government mandate, and the road traffic accidents have pushed the OEMs to offer the seat belt pretensioner and load limiter system in their vehicles. Consequently, the segment is also projected to grow at highest growth rate, which in turn propels the seat belt pretensioner and load limiter market in the upcoming years.
SEAT BELT PRETENSIONER AND LOAD LIMITER MARKET SEGMENTATION:
By Product Type
By Sales Channel:
By Vehicle Type:
North America is likely to be the most profitable region followed by Europe throughout forecast period. This is mainly attributed to the growing regulations for vehicle safety in the regions. Moreover, the increasing disposable income and the rising adaption of the customers for technological advancements is expected to generate significant demand for seat belt pretensioner and load limiters in the region.
On the contrary, the substantial disposable income of the public in several countries across the Middle East has led to the rising demand for luxury vehicles, further encouraging demand for seat belt pretensioner and load limiters.
Further, Asia-Pacific region is expected to witness highest growth rate during the forecast period. This is attributed to the factors such as the presence of key automotive manufacturers and rise in adoption of advanced automotive technologies. In addition, the government of India is actively regulating the use of seat belt pretensioner and load limiters to reduce associated accidents. Also, Singapore as well as other ASEAN countries are anticipated to observe surge in the adoption of seat belt pretensioner and load limiter during the forecast period years. Furthermore, Latin America region is expected to strengthen the usage of seat belt pretensioner and load limiters in the upcoming years; this is opportunistic for the market growth.
FEW KEY PLAYERS IN SEAT BELT PRETENSIONER AND LOAD LIMITER MARKET:
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