Autoliv increased its share of the global seatbelt market to 44% in 2020.
Year-on-year, the company‘s sales of these products fell 8.6% last year, to $ 2.623 billion.
Even so, Autoliv managed to increase its global market share from 41% in 2019 to 44% in 2020.
Overall, sales across all of the company’s segments posted a 12.9% decline in 2020 to $ 7.447 billion.
From its own point of view, Autoliv increased its global share in seat belts by being the technology leader with several innovations such as pretensioners and active seat belts.
Also its strong market position is a reflection of its superior global presence.
Seat belts are the premier life-saving safety product and are also an important requirement in low-end vehicles for growing markets.
For Autoliv, this provides an excellent opportunity to benefit from the expected growth in this market segment.
The company’s strategy, business priorities and objectives are deeply rooted in the growing global demand for road safety.
Every year 1.35 million lives are lost on the roads, according to the World Health Organization (WHO).
Vulnerable road users (pedestrians, bicyclists and motorcyclists) account for about half of these deaths.
Likewise, traffic accidents are one of the leading causes of death in all age groups and the leading cause of death for children and young adults between the ages of 5 and 29.
In addition, tens of millions suffer non-fatal traffic-related injuries, causing not only human suffering, but also costs corresponding to around 3% of GDP in most countries.
Including joint venture operations, Autoliv has approximately 65 production facilities in 25 countries and its clients include the world’s largest automakers.