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The global anti-lock braking system (ABS) market size reached US$ 39.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 65.5 Billion by 2027, exhibiting a growth rate (CAGR) of 8.57% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
The anti-lock braking system in a vehicle stands for safety component that comes in action on the sudden application of brakes during the case of an emergency. Generally, the system includes integration of wheel speed sensors, control modules, brake control unit and hydraulic pressure modulator. ABS improves traction control and stability of the vehicle as well as significantly reduces the risks of skidding, especially in slippery conditions. Furthermore, it decreases maintenance costs and enhances the resale value of the vehicle. Owing to these benefits, the anti-lock braking system is widely installed in two-wheelers, passenger cars, and commercial vehicles.
The global anti-lock braking system market is primarily being driven by the increasing need for the inclusion of vehicular safety and control systems, such as ABS, in automobiles. Further, rising consumer safety concerns supported by the growing awareness towards several benefits of ABS, such as reduced braking distances, high compatibility with all road surfaces and minimized wear-tear, have further fueled the product demand. Additionally, the implementation of stringent norms for mandating safety standards coupled with the launch of various initiatives for promoting the need for vehicle safety has also catalyzed the market growth. The legal environment across several developed regions, such as North America, Japan and Europe, has led to the growing adoption of vehicle safety components, including anti-lock braking system. For instance, various organizations, such as the International Center for Automotive Technology, Insurance Institute of Highway Safety, New Car Assessment Program, etc., have increased the safety protocols for vehicles, thereby augmenting the demand for ABS. On the other hand, several emerging economies, such as China and India, are experiencing high demand for vehicles equipped with ABS due to the increasing rate of road accidents coupled with continuous efforts by the government to reduce the number of casualties. Apart from this, several technological upgradations along with the prevalent trend of automation have positively influenced the ABS market. All the above-mentioned factors will continue to fuel the growth of the global anti-lock braking system market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global anti-lock braking system (ABS) market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component type, vehicle type and end-use.
Breakup by Component Type:
Breakup by Vehicle Type:
Breakup by End-Use:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Advics Co. Ltd., Aisin Seiki, Continental AG, Denso Corporation, Hitachi Automotive System Ltd, Mando Corporation, Robert Bosch GmbH, Wabco Ltd, etc.
|Base Year of the Analysis||2021|
|Segment Coverage||Component Type, Vehicle Type, End-Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, China, Japan, India, Australia, Brazil, Mexico, Argentina, Saudi Arabia, United Arab Emirates, Iran, Egypt, South Africa|
|Companies Covered||Advics Co. Ltd., Aisin Seiki, Continental AG, Denso Corporation, Hitachi Automotive System Ltd, Mando Corporation, Robert Bosch GmbH, and Wabco Ltd.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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