Automotive Airbag and Seat Belt Market for Passenger cars is anticipated to witness rapid growth due to substantial production of these vehicles

Asia Pacific led by India, china and Thailand 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.

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.

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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.

Passenger safety has become the utmost priority for the government as well as the companies. Governments of numerous countries have mandated the usage of seat belts in vehicles and Moreover, airbags are also compulsory, especially in developed countries. The customers are also looking total vehicle protection. Initiatives such as New Car Assessment Program (NCAP) will award the vehicle based on safety performance and ratings on existing safety devices.

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.

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Automotive Airbag and Seat Belt Market is segmented based on vehicles into commercial and passenger vehicles. Passenger cars are anticipated to lead the automotive airbag and seat belt market owing to substantial production of these vehicles across the globe.

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.

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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. Supply chain plays a vital role in industry as the quality check takes place in the company itself. Automotive airbags possess a complex supply chain. Takata has executed the biggest recalls ever. The improper packaging of the airbag inflators led to unexpected explosion. The inadequate quality control records led to the incident. It is very important to maintain the communication even if the parts breakdown.