Global Anti-Lock Braking System (ABS) Market Is Boosted By Rise In Demand For Security Features In Vehicles


Global Anti-Lock Braking System (ABS) Market  Report, published by Variant Market Research, forecast that the global market was valued at $26 billion in 2016 and expected to reach $49 billion by 2024; growing at a CAGR of 8.1% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe anticipated to grow at a fastest CAGR of 13.5% and 5.1%, respectively, over the forecast period 2016 – 2024.
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Global anti-lock braking system (ABS) market is majorly driven by rise in demand for security features in vehicles such as roll-over stability control (RSC), electronic stability control (ESC), and traction control system. Furthermore, advanced technology in automotive industry has also boosted the growth of the market. Though, high maintenance cost of anti-lock braking systems may hamper the market growth. Expansion in untapped markets of developing economies would provide growth opportunities for the market during the forecast period 2016 - 2024.
The global anti-lock braking system market has been categorized into sub-systems, vehicle type, and geography. The sub-systems segment contains ECU, sensors, and hydraulic unit. Hydraulic unit dominated the sub-systems segment accounting for the maximum revenue in 2016. The vehicle type segment contains two-wheelers, passenger cars, and commercial vehicles. In this segment, passenger cars accounted for the largest market share in 2016, owing to its increasing sale and mandatory installation of anti-lock braking system. Though, the two-wheeler segment is projected to grow at the fastest CAGR during the forecast period.
North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific accounted for the major market share of 31.8% in 2016, and is projected to continue its dominance during the forecast period. The growth would be mostly driven by rising industrialization and urbanization in developing countries such as China, Japan, and India. North America accounted for the second largest market share of 27.8%. Asia-Pacific is predicted to grow at the fastest CAGR of 13.5% over the forecast period 2016-2024.
The major key players operating in the global anti-lock braking system market comprises Robert Bosch GmbH, WABCO, ZF TRW, Hyundai Mobis, Denso Corporation, Nissin Kogyo Co., Ltd., Autoliv Inc., Hitachi Automotive Systems, Ltd., Continental AG, and ADVICS Co., Ltd., among others.
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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