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 USD 46.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 91.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032.
The anti-lock braking system (ABS) serves as an essential safety mechanism in automobiles, engaging when brakes are abruptly applied during emergency scenarios. This system comprises several key components, including control modules, a brake control unit, wheel speed sensors, and a hydraulic pressure modulator. By allowing the vehicle’s wheels to maintain contact with the road surface in accordance with the driver’s braking actions, ABS significantly mitigates the likelihood of skidding, especially on slippery surfaces. It enhances stopping power, improves traction control, and bolsters overall vehicle stability. Furthermore, the implementation of ABS can lead to reduced maintenance costs, lower insurance premiums, and enhanced traction control, ultimately contributing to a higher resale value for the vehicle. Given its extensive advantages, ABS is commonly found in passenger vehicles, motorcycles, and commercial transport.
Anti-Lock Braking System (ABS) Market Trends and Drivers:
The global market is witnessing substantial growth, primarily driven by the escalating demand for anti-lock braking systems (ABS) due to the increasing incidence of road accidents worldwide. Additionally, this market expansion is supported by heightened safety awareness among consumers and a growing recognition of the benefits of ABS, such as reduced braking distances, adaptability to various road conditions, and minimized wear and tear. The introduction of innovative braking systems specifically designed for two-wheelers, including a versatile ABS system aimed at improving braking efficiency across different models, is also contributing to market growth. Moreover, the implementation of rigorous safety regulations by governments and initiatives aimed at promoting vehicle safety are significant factors propelling this market forward. Noteworthy organizations, including the Insurance Institute of Highway Safety, the New Car Assessment Program, and the International Center for Automotive Technology, have been instrumental in advancing vehicle safety standards, which has led to a greater adoption of ABS technology. According to Regulation (EU) No 168/2013, motorcycles classified under the L3e-A1 subcategory are required to be equipped with either an advanced braking system (ABS) or a combined braking system (CBS), or both, at the discretion of the manufacturer. The prevalence of ABS is increasing across various regions, with the Asia-Pacific market emerging as one of the largest due to the rising number of accidents and the expanding automotive sector, fueled by the growing demand for vehicles among consumers. The industry is anticipated to encounter heightened competition in the forthcoming years as key players implement competitive strategies to sustain their market positions. For instance, in March 2022, ZF presented its range of products and technologies for heavy-duty trucking applications at TMC 2022 in Orlando, which includes advanced driver assistance systems (ADAS), both pneumatic and hydraulic anti-lock braking systems (ABS), and steering solutions.
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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