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The Active Seat Belt System Market was valued at USD 11.51 billion in 2019 and is projected to reach USD 20.74 billion by 2030, expanding at a CAGR of 5.5% during the forecast period, from 2020 to 2030.
Market Dynamics and Trends
Increasing need for advanced safety features inside vehicles due to the rising number of road accidents have increased the demand for active seat belt systems. Also, technological advancements, implementation of stringent regulatory standards regarding road safety and increase in demand for premium vehicles with superior safety features are expected to drive the active seat belt system market. However, high costs of these systems are expected to hamper the market growth.