Anti-Lock Braking System Market (By Sub System Type: Sensors, Electric Control Unit, Hydraulic Unit; By Vehicle Type: Two-wheeler, Passenger Cars, Commercial Vehicles) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027
The global anti-lock braking system market is anticipated to grow at a CAGR of around 10.1% during the forecasting period 2020 to 2027 and to reach around US$ 88.1 Bn by 2027.
Anti-lock braking system is an advanced breaking system that prevents the locking of breaks when suddenly applied during the emergency. In case of slippery roads ABS tend to be a better safety solution for passengers in the vehicles
Market Dynamics
Passenger vehicle sale in developed and developing countries is increasing, along with consumers approach towards passenger vehicle quality and safety is changing. Demand for passenger vehicles with advanced safety features such as anti-lock braking system is increasing and manufactures are focused on deploying advanced breaking system for better safety. These are some major factors expected to drive the growth of global anti-lock braking system market.
Government across the globe is imposing various rules and regulation related to passenger safety. Implementation of mandatory rule pertaining to deployment of advanced safety features in passenger vehicles is expected to impact the growth of target market positively.
- In 2019, the government of India has made it mandatory for all cars and mini-buses to install anti-lock braking system (ABS). According to a notification of the road transport ministry, all new models will have to comply with the norms from April 2019.
Transportation sector across the globe is witnessing rapid advancements with the high spending of the government on developing the public transportation system, demand for anti-lock braking system in buses, trucks and other transportation vehicles is expected to augment the growth of target market.
Business development activities through strategic merger and acquisitions in order to increase the customer base and enhance the product portfolio is expected to boost the growth of target market. In addition, approach towards collaborative work for R&D activities is another important factor expected to support the target market growth.
- In 2019, Autoliv, Inc. the worldwide leader in automotive safety systems signed a joint agreement with Great Wall Motor Co. Ltd. This agreement is to support the growth of Haval and Wey, the two international SUV brands of Great Wall, and to enhance their features in safety
However, factors such as high cost associated to product installation and maintenance is expected to hamper the growth of target market. In addition, volatile raw material cost is expected to increase the end product cost further challenging the growth of target market.
Increasing is investment for R&D activities, coupled with inclination towards product development activities and introduction of low cost advanced product are factors responsible to create new opportunities over the forecast period. In addition, major players approach towards shifting the manufacturing units to developing countries due to easy availability of raw materials and low cost labor is expected to further positively impact the revenue traction of the global market.
Anti-Lock Braking System Market Segment Analysis, 2019
The global anti-lock braking system market is segmented into sub-system type, and vehicle type. The vehicle type segment is bifurcated into two-wheeler, passenger cars, and commercial vehicles. Among the vehicle type the passenger vehicles segment is expected to account for significant revenue share.
Segment Analysis by Region
The market in North America is expected to account for major revenue share due to high demand for luxury vehicles and presence of major players operating in the country. In addition, stringent government regulation related to passenger safety is another factors expected to support the growth of target market.
Asia Pacific is expected to witness faster growth in the near future due to presence of major automotive manufactures operating in the region. In addition, high passenger vehicle sale and consumer demand for advanced safety vehicles is expected to support the growth of target market.
Competitive Landscape
The competitive landscape is high due to presence of large number of players and high investment for product development. In addition, business expansion activities through strategic agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Anti-Lock Braking System Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
|
Market Stratification |
Sub System Type, Vehicle Type, and Geography |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Anti-Lock Braking System Market (Sub System Type: Sensors, Electric Control Unit, and Hydraulic Unit; Vehicle Type: Two-wheeler, Passenger Cars, and Commercial Vehicles) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global anti-lock braking system market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global anti-lock braking system market, its sub system type, vehicle type, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global anti-lock braking system market size and segment markets by sub system type, vehicle type, and geography along with the information on companies operating in the market. The anti-lock braking system market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Advics Co., Ltd., Autoliv Inc., Continental AG, Hyundai Mobis Co., Ltd., Denso Corporation, Hitachi Automotive Systems Ltd., WABCO, Nissin Kogyo Co., Ltd., Robert Bosch GmbH, and ZF TRW.
Market Segmentation
Market By Sub System Type
- Sensors
- Electric Control Unit
- Hydraulic Unit
Market By Vehicle Type
- Two-wheeler
- Passenger Cars
- Commercial Vehicles
Market By Region
North America
- US
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest if Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Meddle East & Africa
Frequently Asked Questions
What is anti-lock braking system?
Anti-lock braking system is an advanced breaking system that prevents the locking of breaks when suddenly applied during the emergency.
How much is the CAGR of anti-lock braking system market?
The global anti-lock braking system market is anticipated to grow at a CAGR of around 10.1% during the forecasting period 2020 to 2027.
What will be the global anti-lock braking system market size?
The global anti-lock braking system market size is expected to reach around US$ 88.1 Bn by 2027.
Which region held the maximum share for the anti-lock braking system market?
The market in North America is expected to account for major revenue share due to high demand for luxury vehicles and presence of major players operating in the country.
Which region is projected to grow at a fastest rate for the anti-lock braking system market during the forecast period?
Asia Pacific is expected to witness faster growth in the near future due to presence of major automotive manufactures operating in the region.
Which are the key players of anti-lock braking system market?
The players profiled in the report Advics Co., Ltd., Autoliv Inc., Continental AG, Hyundai Mobis Co., Ltd., Denso Corporation, Hitachi Automotive Systems Ltd., WABCO, Nissin Kogyo Co., Ltd., Robert Bosch GmbH, and ZF TRW.
Which vehicle type segment is expected to account for significant revenue share?
The passenger vehicles segment is expected to account for significant revenue share.
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