Automotive Seat Belts Market 2028: Top Vendors Analysis, Growth Drivers and Geographical Analysis

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Automotive Seat Belts Market Global Analysis,
Opportunities And Forecast To 2028
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• Industry Insights

• As per a recent research report, Global
  automotive seat belts market share is likely to
  surpass USD 23 billion valuation by 2028
• Automotive seat belts market size is predicted to
  expand at a considerable rate as the incidence of
  road accidents is growing due to a major lack of
  measures taken to improve individual safety.
  According to the National Highway Traffic Safety
  Administration (NHTSA), out of 22,215 American
  citizens killed in passenger vehicle accidents,
  47 of them were not wearing a seat belt.
• Today, many carmakers are introducing advanced
  technologies that make wearing seatbelts
  mandatory to activate the airbag feature during
  the event of an accident. Moreover, governments
  are unveiling various initiatives to improve road
  safety and encourage people to wear seat belts
  and take other precautions.

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• Most light commercial vehicle (LCV) drivers do
  not pay much heed to road safety, thereby causing
  an uptick in the number of fatal LCV accidents
  every year. However, this scenario is changing as
  federal authorities are implementing stricter
  laws and policies to make wearing seatbelts a
  mandatory practice.
• For instance, the Indian government recently
  introduced the New Motor Vehicles Act, which
  focused on reducing traffic violations including
  failure to wear a seatbelt. The enforcement of
  this law saw an almost immediate increase in the
  percentage of commercial vehicle drivers wearing
  a seat belt. For example, 17.8 of LCV drivers in
  Delhi started wearing a seatbelt after the
  implementation of the act.
• Luxury carmakers are introducing novel
  technologies with the production of every new car
  to enhance the driving experience of their
  customers. Road safety has been a focal point of
  discussion for these producers for years,
  prompting them to bring about advancements in
  basic yet important car components like seatbelts.

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• Regional Analysis

• While it is important to wear a seat belt to
  avoid severe injuries or even death during an
  accident, theres another factor that is making
  people take this crucial automotive component
  seriously insurance claims. If a customer is
  fined or suffers from an accident for not wearing
  a seatbelt, then the car insurance company will
  not cover their clients medical or vehicle
  damage expenses.
• Moreover, it can give firms the opportunity to
  increase the insurance rate during renewal time
  as the customer would now come under the
  high-risk driver category. This, in consequence,
  will lead to customers making sure that they wear
  a seat belt, so as to avoid paying for vehicle
  damage or medical issues themselves.

• Competitive Analysis

• Ningbo BX Automotive Co., Ltd.
• Ashimori Industry Co., Ltd.
• Continental AG
• Hyundai Mobis
• B.K Seat Belts Co., Ltd.

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