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. Looking forward, IMARC Group expects the market to reach US$ 91.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032.
In emergency braking situations, a vital safety component in vehicles is the anti-lock braking system (ABS), which springs into action when brakes are applied rapidly. This complex system consists of multiple parts, including control modules, a brake control unit, wheel speed sensors, and a hydraulic pressure modulator. By allowing the vehicle's wheels to stay in touch with the road, ABS responds to the driver's braking inputs, drastically reducing the likelihood of skidding, especially on slippery roads. This results in improved stopping power, enhanced traction control, and greater vehicle stability. Furthermore, ABS also leads to cost savings on maintenance and insurance, while boosting the vehicle's resale value. Given its numerous advantages, ABS is now a standard feature in a wide range of vehicles, from passenger cars and motorcycles to commercial vehicles.
Anti-Lock Braking System (ABS) Market Trends and Drivers:
The global market is witnessing substantial growth primarily driven by the growing need for anti-lock braking systems (ABS) due to the increasing frequency of road accidents worldwide. Additionally, consumer safety concerns and a rising awareness of the benefits of ABS, such as improved braking performance on various road surfaces and reduced wear and tear, are contributing to market expansion. The development of innovative braking systems tailored for motorcycles, like versatile ABS systems enhancing braking efficiency across different models, is also a significant factor boosting market growth. Moreover, stringent safety regulations imposed by governments and initiatives promoting vehicle safety are key drivers of market expansion. Organizations like the Insurance Institute of Highway Safety, the New Car Assessment Program, and the International Center for Automotive Technology have played vital roles in improving vehicle safety standards and encouraging the adoption of ABS technology. The requirement for advanced braking systems like ABS or combined braking systems (CBS) for motorcycles in certain categories, as stated in Regulation (EU) No 168/2013, is becoming more prevalent in various regions. The Asia-Pacific market stands out as one of the largest markets due to the increasing number of accidents and the growing automotive sector, fueled by rising vehicle demand. Competition among industry players is expected to intensify as companies implement competitive strategies to maintain their market positions. For instance, ZF showcased its advanced driver assistance systems, anti-lock braking systems (ABS), and steering solutions for heavy-duty trucking applications at TMC 2022 in Orlando in March 2022.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/anti-lock-braking-system-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component Type:
- Speed Sensors
- Electronic Control Units (ECU)
- Hydraulic Units
Breakup by Vehicle Type:
- Two Wheelers
- Passenger Cars
- Commercial Vehicles
Breakup by End-Use:
- OEM
- Replacement Demand
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Advics Co. Ltd.
- Aisin Seiki
- Continental AG
- Denso Corporation
- Hitachi Automotive System Ltd
- Mando Corporation
- Robert Bosch GmbH
- Wabco Ltd.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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