The rising number of deaths caused by traffic accidents has compelled governments in many countries to implement strict standards and regulations, including the installation of anti-lock brakes (ABS) in all cars, which is propelling the worldwide industry forward. For example, India's Road Transport Ministry said in September 2015 that by 2018, all motorcycle models shall be equipped with a combined braking system (CBS) and an anti-lock braking system. Aside from letting the driver to preserve the vehicle's directional stability and steering control when braking, ABS has further benefits. It makes it easier for the automobile to handle sharp curves fast and safely. The current Range Rover, for example, employs the in-built ABS to gradually brake a sliding wheel to assist restore traction and grip. Furthermore, anti-lock braking systems work effectively to bring a vehicle to a rapid stop. Anti-lock braking systems collect turbulent shock waves and modify pulses, enabling the wheel to continue turning while applying maximum braking force. As a result, the use of anti-lock braking systems in self-braking systems is on the rise. However, the worldwide market's growth is being hampered by irregular stop timings and expensive costs related with these systems.
Anti-lock braking systems are used in automobiles, lorries, buses, and motorbikes to prevent skidding. It keeps wheels from locking up and prevents cars from slipping out of control. In an emergency, the anti-lock braking system reduces the stopping distance on dry and slick roads and prevents the automobiles from colliding. Due to an increase in the frequency of road accidents, governments throughout the world are enacting severe laws for the installation of ABS in all types of cars. Nearly 1.3 million people die every year in road collisions, according to the Annual Global Road Crash Statistics, necessitating the incorporation of vehicle safety and control systems such as ABS in automobiles.
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According to UnivDatos Market Insights (UMI)’ research report “Automotive Anti-Lock Braking System Market”, the market is expected to witness a CAGR growth of around 7% during the forecast period 2021-2027F. Global Automotive Anti-Lock Braking System Market is experiencing significant growth due to the growing demand of safety features along with increased government mandates for vehicle safety.
Based on sub-system, the market is segmented into Sensors, Electronic Control Unit and Hydraulic Unit. The Sensors segment is expected to grow at a higher CAGR during the forecasted period. Sensors are an important aspect of the anti-lock braking system because they help the ABS control module sense, monitor, and communicate wheel speed. This segment's rapid revenue growth rate may be attributable to technical developments in sensor systems, expanding demand for sophisticated sensors, and increasing vehicle demand.
Based on vehicle type, the market is segmented into Passenger Cars, Commercial Vehicles and Tow-Wheelers. The Passenger Cars segment is expected to grow at a higher CAGR during the forecasted period. Over the projected period, the passenger vehicle category is predicted to increase at a much faster rate in terms of revenue. The increasing use of passenger vehicles, the rise in the number of road accidents, and the introduction of government rules requiring automobiles to have anti-lock brakes (ABS) are all contributing to the passenger car segment's growth. The increase in the production of large number of passenger cars in countries such as China, U.S., Germany, and India will fuel the market growth of ABS
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Asia Pacific to Grab Lion’s Share
Based on the estimation, during the projection period of 2021-2027, Asia Pacific market is predicted to be the fastest-growing region in the coming years. During the projection period, it is predicted to dominate with the greatest CAGR. Due to rising vehicle production and sales, Asia Pacific is expected to dominate the automotive anti-lock braking system market. Manufacturers in this region are concentrating their efforts on producing high-end ABS systems in order to attract more customers and get a competitive advantage over their competitors. The key automobile manufacturing countries in the area are India, South Korea, Japan, and China, which are driving the industry forward. Asia-Pacific is one of the world's fastest-growing regions. Other major drivers driving market revenue growth include rapid urbanization, expanding commercial vehicle usage, rising disposable income, and strong demand for passenger automobiles. Other important reasons driving market expansion include strict government road safety regulations and requirements to install anti-lock brakes (ABS) in cars as a result of an increase in the frequency of road accidents.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Automotive Anti-Lock Braking System Market are includes Denso Corporation, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Continental AG, Autoliv Inc., Hyundai Mobis Co., Ltd., ZF Friedrichshafen AG, Aptiv PLC, The Mando Corporation, Nissin Kogyo Co. etc.
· In Oct. 2020, Hitachi Automotive Systems, Ltd. introduced a new heavy-duty automated parking brake (APB HD) especially designed for pickup trucks, vans, SUVs and light commercial vehicles. The new brake system is suited for a variety of pickup trucks, vans, SUVs and light commercial vehicles with a gross vehicle weight rating at or below 3.5 tons
· In Sep. 2020, ZF one of the largest suppliers of active and passive safety systems for passenger cars test vehicle with Electronic Stability Control (ESC). Brake intervention stabilizes the vehicle in critical situations. This ESC system also includes an Anti-lock Braking System (ABS) and Traction Control (TC)
“Global Automotive Anti-Lock Braking System Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Sub-System (Sensors, Electronic Control Unit and Hydraulic Unit)
2. By Vehicle Type (Passenger Cars, Commercial Vehicles and Tow-Wheelers)
3. By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)
4. By Company (Denso Corporation, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Continental AG, Autoliv Inc., Hyundai Mobis Co., Ltd., ZF Friedrichshafen AG, Aptiv PLC, The Mando Corporation, Nissin Kogyo Co.)
Key questions answered in the study:
1. What are the current and future trends of the Global Automotive Anti-Lock Braking System industry?
2. How the industry has been evolving in terms of end-user demand and product category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Automotive Anti-Lock Braking System industry?
5. What is the customer orientation, purchase behavior, and expectations from the Global Automotive Anti-Lock Braking System suppliers across various countries?
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Table of Content:-
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 AUTOMOTIVE ANTI-LOCK BRAKING SYSTEM MARKET COVID-19 IMPACT
6 AUTOMOTIVE ANTI-LOCK BRAKING SYSTEM MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY SUB-SYSTEM
8 MARKET INSIGHTS BY VEHICLE TYPE
9 MARKET INSIGHTS BY REGION
10 AUTOMOTIVE ANTI-LOCK BRAKING SYSTEM MARKET DYNAMICS
11 AUTOMOTIVE ANTI-LOCK BRAKING SYSTEM MARKET OPPORTUNITIES
12 AUTOMOTIVE ANTI-LOCK BRAKING SYSTEM MARKET TRENDS
13 LEGAL & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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