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 prevents a person from slipping or skidding of a vehicle, and retain steering control after hard braking. ABS are mainly used to assist vehicles for safe braking and easy steering in emergency situations such as, wet or slippery road. Stringent safety laws and regulations implemented by various transport authorities and rise in consumer awareness regarding safety features in the automobiles, is fuelling the growth of the market globally. For instance, the European Union Parliament has mandated the use of ABS in two wheelers having engines above 125 cc by 2016 which has led to surge in demand for anti-lock braking system in the region.
Some of the major drivers of global anti-lock braking system market are increase in demand for safety features in vehicles. Moreover, technological advancement in automotive industry has also supplemented the growth of the market. However, high maintenance cost of anti-lock braking systems may hamper the market growth in the coming years. Expansion in untapped markets of developing economies such as Indonesia, and Brazil and development of advanced braking systems for two wheelers would generate attractive business opportunities for the market in the coming years.
The global anti-lock braking system market is segmented by sub-systems and vehicle type. Sub-systems segment includes sensors, ECU, and hydraulic unit. By vehicle type, the market is bifurcated into two-wheelers, passenger cars, and commercial vehicles.
Geographically, 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 anti-lock braking system market are Robert Bosch GmbH, Autoliv Inc., WABCO, Hyundai Mobis, ZF TRW, Denso Corporation, Hitachi Automotive Systems, Ltd., Nissin Kogyo Co., 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