Global Anti-Lock Braking System (ABS) Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Anti-Lock Braking System Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global anti-lock braking system market report has been segmented on the basis of sub-systems, vehicle type, and region.
Global Anti-Lock Braking System Market: Overview
Anti-lock Braking System (ABS) also called as anti-skid braking system, is a type of an active safety system of a vehicle. This system allows the driver to maintain better control of the vehicle under hard braking and also helps to avoid accidents.
Global Anti-Lock Braking System Market: Dynamics
Technological advancements, stringent safety norms, and increasing safety awareness are some major factors expected to drive revenue growth of global market over the forecast period. Further, increasing incidences of road accidents and the need for safety protocols, regulations and guidelines, is expected to drive revenue growth of target market. In addition, mandatory adoption of ABS and ESC systems, increasing demand for advanced safety features in vehicles, and development of advanced braking system for two-wheelers are also anticipated to bolster growth of the global market. Moreover, integrating ABS with other safety functions such as pressure sensors and wheel speed sensors in motorcycle, which is expected to create lucrative opportunity for growth of the target market over the forecast period.
Global Anti-Lock Braking System Market: Segment Analysis
Among the sub-systems segments, the sensors segment is expected to accounts major revenue share in the target market.
Among the vehicle type segments, the two wheelers segment is expected to account for major revenue share, and is expected to maintain its dominance over the forecast period.
Global Anti-Lock Braking System Market: Region Analysis
The market in Asia Pacific accounts for major share in the global market in terms of revenue and is expected to maintain its dominance over the forecast period. Increasing automobile production, increasing focus on road safety, coupled with government mandating to launch vehicles equipped with ABS from emerging countries such as China and India are some of the factors expected to drive growth of the target market. Heavy investments in R&D activities related to lightweight ABS and presence of major manufacturers in countries in the region, plays an important role for growth of the target market. In addition, rapid urbanization, industrialization, high disposable income, and rising standard of living of individuals in emerging countries are some of the factors contributing to growth of the automotive industry, which subsequently propel demand for the target product.
For instance, as per document released by Ministry of Road Transport & Highways (MoRTH), possibility of mandating airbag and ABS in all vehicles in India, by April 2019, which may create lucrative revenue opportunities for players operating in the target market. In addition, according to New Car Assessment Program (NCAP), ABS should be made mandatory on all two-wheelers irrespective of displacement and size after April 2019.
The market in Europe is expected to grow at a higher growth rate over the forecast period owing to the presence of a large number of automotive manufacturers, along with incorporating vehicle safety systems such as ABS, chassis control, Electric Stability Control (ESC), and driver assistance systems in the region.
Global Anti-Lock Braking System Market Segmentation:
Segmentation by Sub-systems:
- Electronic Control Unit (ECU)
- Hydraulic Unit
Segmentation by Vehicle Type:
- Two Wheelers
- Passenger Vehicles
- Commercial Vehicles
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Robert Bosch GmbH
- Continental AG
- Autoliv Inc.
- Nissin Kogyo Co., Ltd.
- ZF Friedrichshafen AG
- Hyundai Mobis
- Denso Corporation
- Hitachi Automotive Systems, Ltd.
- ADVICS Co., Ltd
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