Global Anti-Lock Braking System (ABS) Market is estimated to reach $49 billion by 2024; growing at a CAGR of 8.1% from 2016 to 2024. Anti-lock braking system is mainly used to assist vehicles for safe braking and easy steering in emergency situations such as wet or slippery road. It prevents a person from slipping or skidding of a vehicle, and retains steering control after hard braking. Increasing consumer demand for safety features in the automobiles, and stringent safety laws & regulations executed by various transport authorities across the globe, show a growing trend for anti-lock braking system globally. For instance, the European Union Parliament has mandated the use of ABS in two wheelers having engines above 125 cc by 2016, which would fuel the demand for anti-lock braking system in the coming years.
Increase in demand for safety features in vehicles such as electronic stability control (ESC), roll-over stability control (RSC), and traction control system are the major factors driving the global anti-lock braking system market. Moreover, technological advancement in automotive industry has also supplemented the growth of the market. However, high maintenance cost of anti-lock braking systems would act as a restraint for the market. Expansion in untapped markets of developing economies and development of advanced braking systems for two wheelers would unfold attractive business opportunities for the market in the coming years.
The global anti-lock braking system market has been segmented on the basis of sub-systems and vehicle type. By sub-systems, the market is further segmented into ECU, sensors, and hydraulic unit. By vehicle type, the market is categorized into two-wheelers, passenger cars, and commercial vehicles.
Based on geography, the global anti-lock braking system market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK, Italy, and others. Asia-Pacific covers China, India, Japan, Australia, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the global anti-lock braking system market are Autoliv Inc., Robert Bosch GmbH, WABCO, ZF TRW, Hyundai Mobis, Denso Corporation, Nissin Kogyo Co., Ltd., Hitachi Automotive Systems, Ltd., Continental AG, and ADVICS Co., Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of Anti-Lock Braking System Market with respect to major segments such as sub-systems type, and vehicle type
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities of the global Anti-Lock Braking System Market
- An exhaustive regional analysis of Anti-Lock Braking System Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Anti-Lock Braking System Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Anti-Lock Braking System Market
Sub-Systems Type Segments
- Hydraulic Unit
Vehicle Type Segments
- Passenger Cars
- Commercial Vehicles
- North America
- South America
- Middle East