LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive seatbelts market and it is poised to grow by USD 1.11 billion during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive seatbelts market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- What are the major trends in the market?
- Seatbelt reminder systems with visual/audible alarm for rear seats is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 3%, the incremental growth of the market is anticipated to be USD 1.11 billion.
- Who are the top players in the market?
- Autoliv Inc., Continental AG, DENSO Corp., Faurecia SA, Ningbo Joyson Electronics Co. Ltd., Robert Bosch GmbH, Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., Toyota Boshoku Corp., and ZF Friedrichshafen AG. are some of the major market participants.
- What are the key market drivers and challenges?
- The advantages of using seatbelts is one of the major factors driving the market. However, the sharp decline in automobile production and sales restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute to 54% of market growth.
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Global Automotive Passive Safety System Market: The automotive passive safety system market size has the potential to grow by USD 2.28 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Autoliv Inc., Continental AG, DENSO Corp., Faurecia SA, Ningbo Joyson Electronics Co. Ltd., Robert Bosch GmbH, Tokai Rika Co. Ltd., Toyoda Gosei Co. Ltd., Toyota Boshoku Corp., and ZF Friedrichshafen AG are some of the major market participants. The advantages of using seatbelts will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive seatbelts market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and