Global Anti-Lock Braking System Market Size is projected to be valued $49 Billion by 2024; with a CAGR of 8% from 2017 to 2024. An Anti-lock Braking System (ABS) is a safety anti-skid braking system used on aircraft and on land vehicles, such as motorcycles, cars, buses and trucks. ABS operates by preventing the wheels from locking up during braking, thereby maintaining tractive contact with the road surface and retains steering control after hard braking. ABS offers improved vehicle control and decreases stopping distances on many type of surfaces such as loose gravel, snow-covered,wet or slippery surfaces. This system is an active safety system for automobiles for which safety laws & regulations executed by various transport authorities across the globe, show a growing trend for anti-lock braking system globally.
Increase in demand for safety features in vehicles such as electronic stability control (ESC), roll-over stability control (RSC), and traction control system are the major factors driving the global anti-lock braking system market. Moreover, technological advancement in automotive industry has also supplemented the growth of the market. However, high maintenance cost of anti-lock braking systems would act as a restraint for the market. Expansion in untapped markets of developing economies and development of advanced braking systems for two wheelers would unfold attractive business opportunities for the market in the coming years.
The global anti-lock braking system market has been segmented on the basis of sub-systems, vehicle type and geography. By sub-systems, the market is further segmented into ECU, sensors, and hydraulic unit. By vehicle type, the market is categorized into two-wheelers, passenger cars, and commercial vehicles.
Based on geography, 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 global anti-lock braking system market are Hyundai Mobis, Denso Corporation, Nissin Kogyo Co., Ltd., Hitachi Automotive Systems, Ltd., Autoliv Inc., Robert Bosch GmbH, WABCO, ZF TRW, Continental AG, and ADVICS Co., Ltd., among others.
The key takeaways from the report
Scope of Anti-Lock Braking System Market
Sub-Systems Type Segments
Vehicle Type Segments