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(I-AutoNewsWire.com, August 13, 2018 ) Automotive Airbag and Seat Belt Market to grow at significant rate over the forecast timeline. The seat belts are designed to safeguard the drivers from sudden jerk or vehicle stoppage. Rising demand for premium cars has further escalated the revenue generation. Moreover, both seat belts and air bags are primary safety devices in the vehicles. Rising consumer awareness towards safety and security.
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Government legislations towards consumer safety & security, has become a compulsion for the manufacturers to install safety devices in the vehicles. Intense competition in the industry has led to powerful technological advancements. With these technological advancements, consumers are becoming aware about their safety and security. Various governments across the globe are emphasizing on the safety measures inducing immense potential to automotive airbag and seat belt market size till 2024.
Industry is segmented based on design into three-point, four-point, five-point, six-point belts and belt in seat. Three-point belt is expected to be the dominant sector in the industry over the next eight years.
Automotive seat belt technological market has the retractor, the pretensioner, the active seat belts, bag in belts, seat belt reminder system and load limiter. Pretensioner is expected to dominate the industry over the coming years.
Asia Pacific led by India, china and Thailand. Asia Pacific is the growing market for Automotive Airbag and Seat Belt market. Adoption of stringent regulations regarding safety installations coupled with escalating passenger vehicle sales will accelerate the product demand in the region over the forecast timeframe.
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Europe has experienced economic downfall and is currently in its recovery stage. Industry is expected to showcase a stable growth in the region. Europe is the major market for Automotive Airbag and Seat Belt market and it is the hub for many safety system suppliers.
Autoliv, Delphi Automotive, Takata Corporation, Hyundai Mobis Co., Toyoda Gosei, Robert Bosch, and Continental AG are among the prominent players in the industry. Industry participants are aiming to introduce innovative products to enhance their market shares.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com
Source: EmailWire.com
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