Anti-lock braking systems are useful for assisting automotive for safe braking and easy steering in situations of the wet or slippery road. Market Research Future (MRFR) has published a research report about the global automotive anti-lock braking system (ABS) market that presumes proliferation for the market with 7% CAGR (Compound Annual Growth Rate) during the forecast period between 2020 and 2027.
The key drivers that play an important role in the market growth include improving technical advancements for ensuring the safety of the passengers & the automotive, increasing adoption of light detection and ranging (LiDAR) in engineering and construction applications, increase in demand of consumers for advanced safety features in the automobiles, development of advanced braking system for two-wheelers, increase in number of auto collision, increased safety awareness, introduction of stringent safety laws & regulations by various transport authorities, increasing use of unmanned aerial vehicles in various applications, and rapid growth of automotive industry. However, some factors that can slow down the market growth include high maintenance cost and high safety standard ratings of anti-lock braking systems.
The global automotive anti-lock braking system market has been segmented on the basis of sub-systems, vehicle types, and lastly, region. Based on sub-systems, this market has been segmented into sensors, electronic control unit, and hydraulic unit. Amongst these, the hydraulic segment holds the maximum market share and generates maximum revenue. During the forecast period, growth has been predicted for sensors due to technological advancement because many leading Anti-lock braking system Original equipment manufacturers (OEMs) are manufacturing advanced anti-lock braking system equipped with a large number of sensors.
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By vehicle type, the market has been segmented into the commercial vehicle, two-wheeler, and passenger cars. Passenger car segment is expected to dominate the anti-lock braking system market due to the increase in the production as well as sales of a large number of passenger cars in countries such as China, Germany, India, and the United States of America (USA).
The regional segmentation of the global automotive anti-lock braking system market segments the market into continent-specific regional markets known as North America, Europe, Asia Pacific, and the rest of the world (RoW). During the forecast period, the Asia Pacific region has been anticipated to emerge as the fastest growing market due to the increasing diffusion rate for anti-lock braking system technology. In this region, China is likely to dominate the market growth due to the increased road accidents and the rules & regulation imposed by the government for the installation of the anti-lock braking system. Other important country-specific markets in this region are India and Japan, followed by the rest of the Asia Pacific region.
Due to technological advancement and safety regulations made compulsory by the government, North America and Europe are important markets too. In North America, the biggest country-specific markets are USA and Canada. In Europe, the primary country-specific markets are France, Germany, Italy, Spain, and the United Kingdom (UK).
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Key Players
The key players in the global automotive ABS markets include Advics Co., Ltd. (Japan), Autoliv Inc. (Sweden), Continental AG (Germany), Denso Corporation (Japan), Hitachi Automotive Systems, Ltd. (Japan), Hyundai Mobis (South Korea), Nissin Kogyo Co., Ltd. (Japan), Robert Bosch GmbH (Germany), TRW Automotive (USA), and WABCO Vehicle Control Systems (Belgium).
Latest Industry News
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- A subsidiary of Japanese two-wheeler manufacturer, Suzuki Motor Corporation, Suzuki Motorcycle India, Japan has launched the much-awaited adventurer tourer - V-Strom 650XT ABS in India. 5 OCT 2020
