Global Anti-Lock Braking System (ABS) Market to Reach US$ 91.8 Billion by 2032, Stimulated by the Significant Growth in the Automotive Industry

September 15, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “Anti-Lock Braking System (ABS) Market Report by Component Type (Speed Sensors, Electronic Control Units (ECU), Hydraulic Units), Vehicle Type (Two Wheelers, Passenger Cars, Commercial Vehicles), End-Use (OEM, Replacement Demand), and Region 2024-2032,” the global anti-lock braking system (ABS) market size reached US$ 46.9 Billion in 2023. The anti-lock braking system (ABS) is a safety mechanism integrated into modern vehicles to prevent the wheels from locking up and skidding during heavy braking. It relies on a system of sensors and actuators that continuously monitor the speed of the wheels and apply or release the brakes to maintain optimal traction. ABS also assists the vehicle to maintain directional stability and control, even on slippery surfaces. The system allows the driver to maintain steering capability while braking, enhancing safety and reducing the risk of accidents. As a result, ABS is a feature integrated with various safety systems used in vehicles, including cars, motorcycles, trucks, and buses.

Global Anti-Lock Braking System (ABS) Market Trends:

The increasing consumer awareness regarding vehicle safety and stringent governmental regulations mandating the integration of ABS in new vehicles are major factors driving the market growth. Furthermore, the development of innovative technologies that enhance the performance and efficiency of ABS is contributing to market growth. In line with this, the emergence of electric and autonomous vehicles leading to innovation and sophistication in automotive technology such as electric vehicles (EVs), with their unique braking dynamics, and autonomous vehicles (AV), with their complex algorithms and sensors, are providing lucrative growth opportunities for the market growth. In line with this, the ability of ABS to integrate seamlessly with other vehicle safety systems like electronic stability control (ESC) and traction control system (TCS), expanding its applicability and appeal, is positively impacting the market growth. Besides this, the increasing awareness among consumers towards prioritizing safety features in vehicles, is creating a positive outlook for the market growth. Looking forward, the market value is projected to reach US$ 91.8 Billion by 2032, expanding at a CAGR of 7.5% during 2024-2032.

Market Summary:

  • Based on the component type, the market has been segmented into speed sensors, electronic control units (ECU), and hydraulic units. According to the report, electronic control units (ECU) represent the largest segment.
  • On the basis of the vehicle type, the market has been divided into two-wheelers, passenger cars, and commercial vehicles. Among these, passenger cars represent the largest segment.
  • Based on the end-use, the market has been bifurcated into OEM and replacement demand. 
  • Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa (Saudi Arabia, Iran, United Arab Emirates, Egypt, South Africa, and others). According to the report, Asia Pacific accounts for the largest market share.
  • The competitive landscape of the market 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, and Wabco Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Component Type
  • Vehicle Type
  • End Use
  • Region
Component Types Covered Speed Sensors, Electronic Control Units (ECU), Hydraulic Units
Vehicle Types Covered Two-Wheelers, Passenger Cars, Commercial Vehicles
End Uses Covered OEM, Replacement Demand
Regions 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$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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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Global Anti-Lock Braking System (ABS) Market to Reach US$ 91.8 Billion by 2032, Stimulated by the Significant Growth in the Automotive Industry
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