Automakers wrapping safety strip to reach USD 20.62 billion by 2027
- The global automotive seat belt pretensioner market is expected to reach USD 20.62 billion by 2027, registering a CAGR of about 6.78% during the forecast period (2022-2027).
- Passenger cars take full charge in the vehicle type segment with a CAGR of 6.74%
- The Asia-Pacific region tops the map with a CAGR of 7.79% during the forecast period
Nitro Boosters in driving Seatbelt Pretensioner Market
- Growing public awareness
- Rising vehicle population
- Hike in rapid rate of urbanization
- Stringent safety regulations
- Increase in the number of young and educated population
Leading Unicorns Upcoming Vehicle Models
- Owing to increased demand for seatbelt pretensioners, several manufacturers are partnering major players in the industry to source components for their upcoming vehicle models.
- In December 2021, BMW launched its new I4 at the BMW World event at corporate HQ in Munich. The new I4 equips a seat pretensioner system from Gedia Gebrueder Dingerkus.
- In November 2021, Jeep announced the launch of the new and updated Jeep Compass 2022 which is expected to make a debut in the market in early 2022. The seatbelt parts were supplied for the Jeep vehicle were offered by ZF Friedrichshafen AG
Read our related report on : Automotive Seats Market
Rear mirror’s View on Governments support to boost Seatbelt Pretensioner Market
- The federal government of France is mulling over the introduction of new policies to improve the country’s automobile industry. The government is not only trying to help local automobile companies, such as Renault SA and PSA Peugeot Citroen, but is also aiming to invite foreign companies to invest in the country to manufacture automotive components in the country.
- The government has been promoting luxury vehicles and new technologies, which is expected to eventually create a market for advanced passive safety systems like airbags and seatbelts in the country
- The Mexican government also partnered with Global Road Safety Partnership to advocate better vehicle safety standards. As part of this, the government is planning to imbibe the benefits of using seatbelts and curb the high road traffic related deaths in the country
- In December 2021, the Spanish government made some significant advances to its road safety laws that will come into effect in 2022 with a goal is to eliminate all road deaths and serious injuries globally by creating multiple layers of protection that address all the factors that play a role in crashes: infrastructure design, vehicle safety that will push the demand for seatbelt pretensioner market.
Electric Vehicles are Supercharged with Whooping Opportunities
- To expand in EV business, Hyundai Mobis announced a third electric vehicle parts plant that will be built in South Korea. The plan for the Pyeongtaek plant is to produce drive units such as electric motors, single-speed transmissions, and power electronics with an initial output of 150,000 annually and then up to 300,000 by 2026.
- In August 2021, Russian government announced the aims towards electric vehicles. As a part of it, Russia wants to manufacture 730,000 electric vehicles (EVs) in the 2022-30 period, with an initial production target of 25,000 by the end of 2024. This transition opens way for the manufacturers of seatbelt pretensioner market with ample of opportunities in the coming years.
- In August 2021, Tata Tigor EV had secured a high safety rating owing to the prevention of excessive forward movement during the impact by using retractable pretensioners to hold the passenger in place.
Emission less Innovations in the Near Future
- With the advent of 5G technology and its high capabilities, future seatbelt systems are expected to feature internet-connected systems. One such system is expected to be an interlocking system that enables vehicle ignition only after a seatbelt connection detection.
- Hyundai Mobis continues innovation to improve fuel efficiency and reduce CO2 emissions by integrating the existing separate power electronics into the battery system.
