Anti-Lock
Braking System Market Report, published by Variant Market Research, forecast
that the global market is expected to reach $49 billion by 2024 from $26
billion in 2016; growing at a CAGR of 8.1% from 2016 to 2024. By geography,
Asia-Pacific and Europe are expected to grow at a CAGR of 13.5% and 5.1%,
respectively, during the forecast period.
Browse
Complete Report @ https://www.variantmarketresearch.com/report-categories/automotive/anti-lock-braking-system-market
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
driving factors of 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 may hamper the market growth in the coming year. Similarly, expansion
in untapped markets of developing economies and development of advanced braking
systems for two wheelers would provide new business opportunities for the
market in the near future.
The
global anti-lock braking system market is bifurcated on the basis of
sub-systems and vehicle type. The sub-systems segment is further classified
into ECU, sensors, and hydraulic unit. The hydraulic unit sub-systems generated
the highest revenue in 2016. By vehicle type, the market is categorized into passenger
cars, two-wheelers, and commercial vehicles. The passenger cars segment accounted
for the largest market share in 2016, driven by its increased sale and
obligatory installation of anti-lock braking system. However, the two-wheeler
segment is expected to grow at the fastest CAGR during the forecast period.
Geographically
the market is categorized into North America, Europe, Asia-Pacific, and Rest of
the World (RoW). Asia-Pacific accounted for the largest market share of 31.8%
in 2016, and is expected to continue its dominance during the forecast period.
The growth is majorly attributed to increasing urbanization and
industrialization in developing countries such as China, Japan, and India.
North America accounted for the second largest market share of 27.8%. In terms
of growth, Asia-Pacific is expected to attain the fastest CAGR of
13.5% during the forecast period 2016-2024.
Autoliv
Inc., Hitachi Automotive Systems, WABCO, ZF TRW, Hyundai Mobis, Robert Bosch
GmbH, Denso Corporation, Nissin Kogyo Co., Ltd., Ltd., Continental AG, and
ADVICS Co., Ltd., among others are the major players in the global anti-lock
braking system market.
For
information, contact:
VARIANT MARKET RESEARCH
LLP
USA Office:
649
Mission St.,
5th
Floor, San Francisco,
CA
94105, United States.
Tel:
+1-415-680-2785
Fax:
+1-415-680-2786
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Headquarter):
Office
No. FL No.7, Prakash Developers,
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no 34/A5, Wadgaon Sheri,
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+91 20 65337795
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