Market Definition:
The Global Anti-Lock Braking System Market size was valued at USD 40.81 billion in 2019, is predicted to reach USD 110.91 billion by 2030, witnessing a CAGR of 9.5% from 2020-2030. Anti-lock Braking System (ABS) is a sophisticated and effective braking system used in two-wheelers, passenger car, commercial vehicles, or other automobiles. Its anti-skid safety system prevents wheel lock under braking, hence maintaining tractive control with road surface. ABS help improve steering control, decreasing the stopping distances on loose gravel, snow-covered surfaces, dry surfaces as well as slippery surface, thereby avoiding vehicle collision.
Market Dynamics and Trends:
The global anti-lock braking system market is on a spur due to escalating number of road-crashes and consequent increase in the death rates. Besides, factors such as increase in number of vehicles, stringent government polices to ensure the maximum safety features, growing demand from the consumers side for advanced safety features as well as increasing awareness towards safe-driving, are expected to foster the market growth throughout the forecast period.
Furthermore, the advanced safety features offered by ABS such as reduced tier wear, reduced braking distance, automated anti-collision system as well as stable braking characteristics on all kinds of road surfaces are anticipated in supplementing the growth of the global anti-lock braking system market. However, factors such as high installation and maintenance cost as well as lack of skilled work-force, are expected to impede the growth of the anti-lock braking system market during the forecast period. Moreover, the growing demand of passenger cars, increasing installation of ABS in two-wheelers, expansion of ABS market in the developing economies as well as its introduction in electric vehicle and conventional vehicles by the leading manufactures, tend to pave the way for lucrative opportunities in the global anti-lock braking system market in the future.
Market Segmentations and Scope of the Study:
The global anti-lock braking system market share analysis is based on sub-system, vehicle type and geography.
Based on sub-system type, the market is segmented into Sensors, Electric Control Unit, and Hydraulic Unit. Based on vehicle type, the market is divided into Two-wheeler, Passenger Cars, and Commercial Vehicles. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Asia-Pacific, Europe, and RoW.
Geographical Analysis:
North America is expected to dominate the global anti-lock braking system market, holding the major market share throughout the forecast period. Increased adoption of anti-lock braking system, technological advancement, presence of well-established infrastructure as well as increased demand of safety features are expected to propel the growth of anti-lock braking system market.
Asia-Pacific region specifically the emerging economies are expected to demonstrate a substantial growth in the global anti-lock braking system market with the highest CAGR, throughout the forecast period. This is attributable to stringent government polices to ensure maximum safety features, upsurge in road accidents, increase in disposable income, as well as extensively growing demand for passenger cars.
Competitive Landscape:
The anti-lock braking system market, which is highly competitive, consists of various market players. Some of the major market players include Autoliv Inc., Advics Co., Ltd., Continental AG, Hitachi Automotive Systems Ltd., Denso Corporation, Nissin Kogyo Co., Ltd., Hyundai Mobis Co., Ltd., WABCO, Robert Bosch GmbH, and ZF TRW among others. The past endeavors and futuristic advancements, sum-up to comprehend the overall anti-lock braking system market growth. For instance, in October 2019, the well-known market player, WABCO, introduced its intelligent Anti-Lock Braking System (iABS), that proves to be the next generation ABS for commercial trailers. The iABS optimizes trailer control hence preventing the wheels from locking, skidding, and slipping during emergency situations.
Furthermore, the road traffic crashes result in approximately 1.35 million deaths every year; leaving 20-50 million people with non-fatal injuries, according to the data provided by World Health Organization. As per studies, Anti-lock braking system can reduce the risk of road accident by 20%. Henceforth, from April 2019, the Government of India has mandated the installation of ABS in all new as well as existing cars and buses, in-order to reduce road crashes. This in-turn is expected to supplement the growth of the anti-lock braking system market in future.
KEY MARKET SEGMENTS:
Global Anti-Lock Braking System market - By Sub-System Type
Global Anti-Lock Braking System market - By Vehicle Type
Global Anti-Lock Braking System market -By Geography
The Global Anti-Lock Braking System Market size was valued at USD 40.81 billion in 2019, is predicted to reach USD 110.91 billion by 2030, witnessing a CAGR of 9.5% from 2020-2030. Anti-lock Braking System (ABS) is a sophisticated and effective braking system used in two-wheelers, passenger car, commercial vehicles, or other automobiles. Its anti-skid safety system prevents wheel lock under braking, hence maintaining tractive control with road surface. ABS help improve steering control, decreasing the stopping distances on loose gravel, snow-covered surfaces, dry surfaces as well as slippery surface, thereby avoiding vehicle collision.
Market Dynamics and Trends:
The global anti-lock braking system market is on a spur due to escalating number of road-crashes and consequent increase in the death rates. Besides, factors such as increase in number of vehicles, stringent government polices to ensure the maximum safety features, growing demand from the consumers side for advanced safety features as well as increasing awareness towards safe-driving, are expected to foster the market growth throughout the forecast period.
Furthermore, the advanced safety features offered by ABS such as reduced tier wear, reduced braking distance, automated anti-collision system as well as stable braking characteristics on all kinds of road surfaces are anticipated in supplementing the growth of the global anti-lock braking system market. However, factors such as high installation and maintenance cost as well as lack of skilled work-force, are expected to impede the growth of the anti-lock braking system market during the forecast period. Moreover, the growing demand of passenger cars, increasing installation of ABS in two-wheelers, expansion of ABS market in the developing economies as well as its introduction in electric vehicle and conventional vehicles by the leading manufactures, tend to pave the way for lucrative opportunities in the global anti-lock braking system market in the future.
Market Segmentations and Scope of the Study:
The global anti-lock braking system market share analysis is based on sub-system, vehicle type and geography.
Based on sub-system type, the market is segmented into Sensors, Electric Control Unit, and Hydraulic Unit. Based on vehicle type, the market is divided into Two-wheeler, Passenger Cars, and Commercial Vehicles. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Asia-Pacific, Europe, and RoW.
Geographical Analysis:
North America is expected to dominate the global anti-lock braking system market, holding the major market share throughout the forecast period. Increased adoption of anti-lock braking system, technological advancement, presence of well-established infrastructure as well as increased demand of safety features are expected to propel the growth of anti-lock braking system market.
Asia-Pacific region specifically the emerging economies are expected to demonstrate a substantial growth in the global anti-lock braking system market with the highest CAGR, throughout the forecast period. This is attributable to stringent government polices to ensure maximum safety features, upsurge in road accidents, increase in disposable income, as well as extensively growing demand for passenger cars.
Competitive Landscape:
The anti-lock braking system market, which is highly competitive, consists of various market players. Some of the major market players include Autoliv Inc., Advics Co., Ltd., Continental AG, Hitachi Automotive Systems Ltd., Denso Corporation, Nissin Kogyo Co., Ltd., Hyundai Mobis Co., Ltd., WABCO, Robert Bosch GmbH, and ZF TRW among others. The past endeavors and futuristic advancements, sum-up to comprehend the overall anti-lock braking system market growth. For instance, in October 2019, the well-known market player, WABCO, introduced its intelligent Anti-Lock Braking System (iABS), that proves to be the next generation ABS for commercial trailers. The iABS optimizes trailer control hence preventing the wheels from locking, skidding, and slipping during emergency situations.
Furthermore, the road traffic crashes result in approximately 1.35 million deaths every year; leaving 20-50 million people with non-fatal injuries, according to the data provided by World Health Organization. As per studies, Anti-lock braking system can reduce the risk of road accident by 20%. Henceforth, from April 2019, the Government of India has mandated the installation of ABS in all new as well as existing cars and buses, in-order to reduce road crashes. This in-turn is expected to supplement the growth of the anti-lock braking system market in future.
KEY MARKET SEGMENTS:
Global Anti-Lock Braking System market - By Sub-System Type
- Sensors
- Electric Control Unit
- Hydraulic Unit
Global Anti-Lock Braking System market - By Vehicle Type
- Two-wheeler
- Passenger Cars
- Commercial Vehicles
Global Anti-Lock Braking System market -By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- RoW
- Latin America
- Middle East
- Africa
Table of Contents
1. Introduction
2. Market Snapshot, 2019-2030 Million USD
4. Market Dynamics
5. Global Anti-Lock Braking System Market, by Sub-System Type
6. Global Anti-Lock Braking System Market, by Vehicle Type
7. Global Anti-Lock Braking System Market, by Region
8. Company Profiles
Executive Summary
Anti-Lock Braking System: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 - 2030. Increase in number of vehicles and rising awareness towards safe driving are expected to drive the anti-lock braking system market growth.Anti-lock Braking System (ABS) is a sophisticated and effective braking system used in two-wheelers, passenger car, commercial vehicles, or other automobiles. Its anti-skid safety system prevents wheel lock under braking, hence maintaining tractive control with road surface.
The global anti-lock braking system market is on a spur due to escalating number of road-crashes and consequent increase in the death rates. Besides, factors such as increase in number of vehicles, stringent government polices to ensure the maximum safety features, growing demand from the consumers side for advanced safety features as well as increasing awareness towards safe-driving, are expected to foster the market growth throughout the forecast period.
However, factors such as high installation and maintenance cost as well as lack of skilled work-force, are expected to impede the growth of the anti-lock braking system market during the forecast period. Moreover, the growing demand of passenger cars, increasing installation of ABS in two-wheelers, expansion of ABS market in the developing economies as well as its introduction in electric vehicle and conventional vehicles by the leading manufactures, tend to pave the way for lucrative opportunities in the global anti-lock braking system market in the future.
The global anti-lock braking system market share analysis is based on sub-system, vehicle type and geography. Based on sub-system type, the market is segmented into Sensors, Electric Control Unit, and Hydraulic Unit. Based on vehicle type, the market is divided into Two-wheeler, Passenger Cars, and Commercial Vehicles. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Asia-Pacific, Europe, and RoW.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Autoliv Inc.
- Advics Co., Ltd.
- Continental AG
- Hitachi Automotive Systems Ltd.
- Denso Corporation
- Nissin Kogyo Co., Ltd.
- Hyundai Mobis Co., Ltd.
- WABCO
- Robert Bosch GmbH
- ZF TRW
