Anti-Lock Braking System Market was valued at USD 31.48 Billion in 2022 and is projected to reach USD 56.42 Billion by 2030, growing at a CAGR of 7.93% from 2024 to 2030.
The Anti-Lock Braking System (ABS) market has experienced significant growth in recent years, driven by increasing vehicle production, stringent safety regulations, and technological advancements. As of 2023, the global ABS market was valued at approximately USD 54.1 billion and is projected to reach USD 80.65 billion by 2026, registering a Compound Annual Growth Rate (CAGR) of 9.6% from 2019 to 2026. This growth trajectory underscores the critical role of ABS in enhancing vehicle safety and performance.
Government Regulations: Governments worldwide have implemented stringent safety standards mandating the inclusion of ABS in vehicles. For instance, in many regions, new vehicles are required to be equipped with ABS to enhance road safety.
Technological Advancements: Continuous innovations in automotive safety systems, such as the integration of Electronic Stability Control (ESC) and Electronic Brake-force Distribution (EBD) with ABS, have improved vehicle control and stability, further propelling market growth.
Consumer Awareness: Increasing awareness among consumers about vehicle safety features has led to a higher demand for vehicles equipped with advanced braking systems, including ABS.
The ABS market is segmented based on sub-system type, vehicle type, and region.
Sensors: Critical for detecting wheel speed and preventing wheel lock-up during braking.
Electronic Control Unit (ECU): Processes sensor data to modulate brake pressure accordingly.
Hydraulic Unit: Executes commands from the ECU to adjust brake fluid pressure.
Passenger Cars: Accounted for over 56% of the market share in 2023, driven by rising production and sales in countries like India, China, and the U.S.
Two-Wheelers: The segment is estimated to hold the second-largest position in the market, with manufacturers focusing on developing high-end ABS systems to attract consumers.
Commercial Vehicles: Increasing adoption of ABS due to safety regulations and the need for enhanced braking efficiency under heavy load conditions.
Asia-Pacific: Dominated the market with around 35% share in 2023, characterized by robust economic growth, increasing vehicle production, and a heightened focus on vehicle safety. Countries like China and India are leading in ABS adoption due to stringent safety regulations and government initiatives.
Europe: Known for stringent safety standards and early adoption of automotive safety technologies, contributing to significant market growth.
North America: Valued at USD 10.5 billion in 2023, with growth driven by stringent safety regulations and high consumer awareness regarding vehicle safety features.
The ABS market is highly competitive, with major players continuously innovating to maintain their market positions. Key companies include:
Robert Bosch GmbH
Continental AG
Autoliv Inc.
Nissin Kogyo Co., Ltd.
WABCO Holdings Inc.
Hitachi Automotive Systems, Ltd.
ZF Friedrichshafen AG
Denso Corporation
Haldex AB
Hyundai Mobis
Advics Co. Ltd.
Aisin Seiki
Mando Corporation
For example, in January 2023, Continental announced the introduction of a new single-channel ABS solution in India for two-wheelers, including sub-125cc motorcycles, to enhance safety features in the growing two-wheeler market.
The ABS market is poised for continued growth, driven by:
Regulatory Developments: Expansion of safety regulations mandating ABS in various vehicle categories across different regions.
Technological Integration: Development of modular and scalable ABS designed for the braking characteristics of two-wheelers, adaptable to models ranging from lower power segments to high-end sports bikes.
Emerging Markets: Increasing vehicle production and sales in emerging economies, coupled with rising consumer awareness about vehicle safety, are expected to drive demand for ABS.
In conclusion, the Anti-Lock Braking System market is experiencing significant growth, underpinned by regulatory mandates, technological advancements, and increasing consumer demand for vehicle safety. As the automotive industry continues to evolve, ABS will remain a critical component in ensuring road safety and enhancing vehicle performance.
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Bosch
Continental
ZF
Autoliv
WABCO
Brakes India
Hyundai Mobis
Mando
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Anti-Lock Braking System Market
Motorcycles
Passenger Cars
Commercial Vehicles
Based on Types the Market is categorized into Below types that held the largest Anti-Lock Braking System market share In 2023.
Pneumatic Anti-Lock Braking System
Hydraulic Anti-Lock Braking System
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Anti-Lock Braking System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Anti-Lock Braking System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Anti-Lock Braking System Market, By Type
6. Global Anti-Lock Braking System Market, By Application
7. Global Anti-Lock Braking System Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Anti-Lock Braking System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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