Anti-lock Braking System Market

Anti-lock Braking System Market Outlook-2026

The global anti-lock braking system market size was valued at $37.69 billion in 2018 and is projected to reach $80.65 billion by 2026, registering a CAGR of 9.6% from 2019 to 2026. Asia-Pacific accounted for the highest share in 2018 and is anticipated to maintain its lead throughout the anti-lock braking system market forecast.

Anti-lock braking system (ABS) is an advanced active braking system used in automobiles, which helps drivers to control their vehicles. It allows wheels of a vehicle to maintain dynamic contact with the road surface, which is proportional to the braking inputs given by the driver. It improves vehicle control and reduces the chances of collision on both dry and slippery surfaces. Automobile companies have equipped their vehicles with anti-lock braking system, traction control system (TCS), electronic brake force distribution (EBD), and electronic stability control (ESC) to offer advanced safety features and improve stability, control, & safety on difficult terrains. According to the Annual Global Road Crash Statistics, nearly 1.3 million people die every year in road crashes; thereby, leading to increase in need for inclusion of vehicular safety and control systems such as ABS in automobiles.

The factors such as growth in demand for safety features, technological advancements in automotive industry, and increase in government mandates for vehicle safety drive the growth of the anti-lock braking system market. Moreover, high maintenance and installation cost is expected to hinder the market growth. However, development of advanced braking system for two wheelers along with the expansion in untapped market of developing countries is anticipated to provide lucrative opportunities for the key market players during the forecast period.

The global ABS market is segment based on sub-system type, vehicle type, and region. Based on sub-system type, the market is divided into sensors, electric control unit, and hydraulic unit. By vehicle type, it is categorized into two wheelers, passenger cars, and commercial vehicles. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players including Advics Co., Ltd., Autoliv Inc., Continental AG, Denso Corporation, Hitachi Automotive Systems Ltd., Hyundai Mobis Co., Ltd., Nissin Kogyo Co., Ltd., Robert Bosch GmbH, WABCO, ZF TRW, and others hold the largest share of the anti-lock braking system industry.

Growth in demand for safety features

The demand for safety features such as ABS, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is on rise, owing to increase in number of road accidents around the world. According to the Association of Safe International Road Travel (ASIRT), nearly 1.3 million people die in road crashes each year around the world, with an average 3,287 deaths per day. In addition, road traffic crashes rank as the ninth leading cause of death and account for 2.2% of all deaths globally. Therefore, increase in concern regarding these conditions increase the demand for incorporation of safety features in the vehicles. Thus, automobile companies are focusing toward the production of safety features to be enabled in the vehicles; thereby, driving the growth of the anti-lock braking system market.

Increase in government mandates for vehicle safety

Governments across the globe have made regulations to install safety measures in the vehicle due to increase in number of road accidents leading to death. Countries such as India and France are enforcing laws and regulations on vehicles to enable safety systems like ABS and ESC in their vehicles within a stipulated time period. For instance, Indian government has regulated the installation of safety features such as automatic braking system and advanced driving system in the vehicles running in the country. Government of India, through an amendment to the Motor Vehicle Act, has made ABS mandatory in all new models of commercial vehicles, starting from April 2015. Moreover, automobile manufacturers need to obtain safety ratings by organizations such as the Insurance Institute of Highway Safety (IIHS), New Car Assessment Program (NCAP), and International Centre for Automotive Technology (ICAT) to access a sales license for vehicles in the market. Therefore, increase of global safety protocols for vehicle safety is likely to drive the market for the anti-lock braking system.

High maintenance and installation cost

High maintenance cost of the components of the anti-lock braking system presents a barrier to the growth of the anti-lock braking system market. On an average, maintenance and installation cost of ABS is $2000, including labor cost for commercial vehicles. The electronic control module of ABS costs from $1000 to $5000 and is also not readily available in the market. This high maintenance and installation cost of the anti-lock braking system can be a potential barrier to the growth of the ABS market.

Development of advanced braking system for two wheelers

Development and innovation in braking systems of two wheelers can propel the growth of the anti-lock braking system market in the upcoming years. According to the report by the Transport Research Wing of India, two-wheelers accounted for the highest share in total road accidents (25%) in 2016. Therefore, an urgent need of safety systems for anti-lock braking system is on a rise. Recent innovations, such as modular and scalable anti-lock braking system, are especially designed for the braking characteristics of two wheelers and can be adapted to models ranging from the lower power segment to high-end sports bikes. The development of advanced braking systems for two wheelers can unfold various opportunities to the operating companies for growth in the ABS market.

Key Benefits for Anti-lock Braking System Market:

• This study presents the analytical depiction of the global anti-lock braking system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
• The overall anti-lock braking systems market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
• The report presents information related to the key drivers, restraints, and opportunities of the global anti-lock braking systems market with a detailed impact analysis.
• The current ABS market is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

 Anti-lock Braking System Market Report Highlights