New York, USA, Aug. 11, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global active seat belt market is projected to register a revenue of $29,100.0 million at a CAGR of 4.4% during the forecast period (2019-2026), increasing from $20,645.1 million in 2018. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: Increase in the manufacturing of automobile and integrated safety systems is a factor enhancing the growth of the global active seat belt market. The main factor behind this growth is predicted to be the safety benefits of active seat belts during air or road travel.
Restraint: The demand of vehicles is comparatively low in the developing countries because of low disposal income. This factor may hamper the growth of the market in the upcoming years.
Opportunity: Latest technologies such as seat belt reminders, gearlocks, and interlocks, and cheat devices are predicted to create many opportunities for the market in the upcoming years.
Key Segments of the Market
The report has divided the market into different segments based on component, application, and regional analysis.
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Component: Pre-Tensioner Sub-Segment Expected to be the Most Lucrative
Pre-tensioner segment accounted for $8,670.9 million in 2018 and is further predicted to garner a revenue of $11,785.5 million by the end of 2026. The major attributor of this growth is the reliability of the pre-tensioner and its operational performance.
Application: Passenger Vehicle Sub-Segment Predicted to be the Most Profitable
Passenger vehicle sub-segment garnered a revenue of $15,218.8 million in 2018, and is further predicted to surpass $21,097.5 million by the end of 2026. The main attributor accelerating the growth of the segment is the increase in innovative new models of cars and surge in the rising purchase.
Region: Asia-Pacific Expected to Dominate the Market
Asia-Pacific regional market is expected to garner the highest revenue of $15,059.9 million by the end of 2026. The reason behind this growth is the presence of the big automotive companies in the region and popularity of advanced cars among the young generation.
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Key Players & Strategies
The most significant players of the global active seat belt system market include
- Far Europe Holding Limited
- Continental Corporation
- Zf Friedrichshafen Ag (Zf Trw Automotive Holdings Corp.)
- Ningbo Joyson Electronics Corp. (Key Safety Systems, inc.)
- Autoliv, Inc.
- Tokai Rika Co., Ltd.
- Hyundai Mobis Co Ltd.
- Denso Corporation
- Takata Corporation
among others.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
In August 2020, Global Blue, a leading strategic technology and payments partner empowering global merchants to capture the growth of international shoppers, and Far Point Acquisition Corporation, a special purpose acquisition company co-sponsored by the institutional asset manager Third Point LLC and former NYSE President Thomas W. Farley, entered into a supplemental letter agreements by FPAC, SL Globetrotter, L.P. (“Globetrotter”), Global Blue’s controlling stockholder and representative of all Global Blue seller parties, and affiliates of Third Point (the “TP Funds”).
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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