ABS market is anticipated to grow at a considerable CAGR of 9.6% during the forecast period. The primary factor contributing toward the market growth includes the rising incidence of road-accidents across the globe, which has increased the concerns related to road safety. According to the World Health Organization (WHO), around 1.3 million people loses life in road accidents every year, and about half of the casualties occur in middle and low-income economies that have less than 50% of the global total vehicles. Thus, to reduce cases of road accidents and provide improved enhanced safety, the automobile manufacturers are offering better ABS in vehicles, which in turn will bolster the market growth. ABS, are found in automobiles, trucks, buses, and motorcycles. It stops wheels from locking up and vehicles from slipping out of control. Additionally, the ABS reduces the distance on rough and dry roads, protecting cars from crashing in emergency situations.
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The global ABS market is segmented based on the sub-system type and vehicle type. Based on the sub-system type, the market is sub-segmented into sensors, ECU, and hydraulic unit. Based on the vehicle type, the market is sub-segmented into two-wheeler, passenger cars, and commercial vehicles. Among the sub-system type, the sensors sub-segment is anticipated to witness lucrative growth over the forecast period. An ABS sensor is a wheel speed sensor that assists the car’s ABS system to know when to engage. The ABS system is designed to kick in during emergency braking situations to prevent wheels from locking up, which in turn, maintains control of a vehicle while avoiding accidents.
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Automotive Anti-Lock Braking Systems (ABS) Market Segmentation
By Sub-System Type
- Sensors
- Electronic Control Unit (ECU)
- Hydraulic Unit
By Vehicle Type
- Two-Wheeler
- Passenger Cars
- Commercial Vehicle
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Advics Co., Ltd.
- Autoliv Inc.
- Beijing Automotive Group Co., Ltd.
- BWI Group
- Continental AG
- Delphi Technologies
- DENSO Corp.
- Haldex AB
- Hitachi, Ltd.
- Jiaozuo Brake Co., Ltd.
- JUNEN Enterprise Corp.
- KEMI Lab
- Knorr-Bremse Group
- Robert Bosch GmbH
- The Asia/Pacific Group
- The Distance Education Accrediting Commission (DETC)
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