Published on : Sep 03, 2019
The National Safety Council of the U.S. recently wrote a memorandum to the House of Representative Subcommittee on Consumer Protection & Commerce. The memorandum asserted that over 40,000 fatalities related to car accidents were recorded across the U.S. between 2017 and 2018. The memorandum is meant to draw attention towards improvements in car safety standards. This, and several other moves by regional governments and authorities, are slated to drive demand across the global automotive seat belt retractor market.
The past decade is plush with instances of new manufacturing regulations being introduced in the automotive sector. Furthermore, car safety is a key parameter that defines the success of a particular automotive model. Hence, the global automotive seat belt retractor market is projected to emerge as a haven of lucrative opportunities.
A report by ResearchMoz, titled “Automotive Seat Belt Retractor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027”, breaks down several complex dynamics of growth of the global automotive seat belt retractor market. This review is a summarization of these dynamics.
Car Manufacturers become Increasingly Proactive
The concerns of the masses toward automotive safety have led car manufacturers to pull up their socks. Safety is an important parameter that influences the decision of buyers while selecting cars. Most of the automotive manufacturers who focus on safety have tasted success in recent times. Hence, the global automotive seat belt retractor market is poised to earn commendable revenues in the coming years.
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Europe to Witness Paced Market Growth
Some of the most renowned automotive companies such as Fiat, Morris Garage, Bentley, Daimler AG, and Aston Martin are European entities. Hence, the historic expertise of the region in automotive manufacturing has given a thrust to the growth of the European market. Other key regional segments pertaining to the global automotive seat belt retractor market are North America, Asia Pacific, Latin America, and the Middle East and Africa.