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Global Anti lock Braking System (ABS) Market is expected to garner $41 billion by 2022, registering a CAGR of 8.2% during the forecast period 2016-2022. Anti-lock braking system (ABS) is an active safety system for automobiles that helps to avoid accidents and supports the driver to reach the destination safely. ABS allows the wheels of an automobile to maintain traction according to driver’s input while braking to prevent the wheels from locking up and avoid uncontrolled skidding. ABS offers improved vehicle control and decreases stopping distances on various type of surfaces; however, on loose gravel or snow-covered surfaces, ABS can significantly improve vehicle control and maneuverability.
The global ABS market observes growth primarily due to safety measures both on the demand and supply side. Automobile manufacturers all around the world are focused on installing vehicle safety systems such as ABS, Electric Stability Control (ESC), chassis control, and driver assistance systems due to stringent safety laws and protocols mandated by various regulatory authorities of different countries.
The global ABS market is segmented on the basis of sub-systems, vehicle type, and geography. Based on sub-systems, it is divided into sensors, electronics control unit (ECU), and hydraulic unit. The market by vehicle type comprises two wheelers, passenger cars and commercial vehicles. Passenger cars are anticipated to account for the largest market share, as it is the largest adapter of vehicle safety system due to stringent safety laws and increase in safety concern of consumers. The market is analyzed on the basis of regions such as North America, Europe, Asia-Pacific, and LAMEA.
Passenger Cars Leads the ABS Market:
Passenger cars comprise of vehicles such as sedans, hatchback, sports utility vehicles (SUV), Multi utility vehicles (MUV), and electric cars (BEC, PEV, and BHEV). The global automotive industry exhibited sales of approximately 66 million passenger cars in 2015. Passenger cars consume the major share of overall vehicle sales and undergo strict safety tests and regulations.
Currently, product launch strategy drives the market, accounted for around 48% of total strategies adopted by key players. Leading ABS manufacturer such as Continental AG and Bosch expand their business by launching advance ABS, which can be combined with ESC or ADAS.
Two Wheeler ABS: Propelling the Market Growth
Increase in rate of road accidents and global safety protocols drive the market growth of ABS in two wheelers. Two wheelers contribute in the maximum number of road traffic accidents globally, so government enforces laws and regulations regarding the usage of safety systems like ABS and ESC in vehicles. Also, the number of two wheelers increases at a notable rate and is expected to reach 160 million units by 2021.
Asia-Pacific: Most Lucrative ABS Market
The Asia-Pacific region includes China, Japan, India, Australia, and rest of Asia-Pacific. It offers lucrative opportunities in the ABS market, and is anticipated to be the fastest-growing market over the study period. The growth of the market in the region is supplemented by the increase in road safety rules by government such as launching vehicle with ABS. For instance, as per Indian government rules, airbag and ABS are compulsory and hence would be a standard feature in passenger cars from October 2018. Moreover, ABS will be mandatory for two wheelers with more than 125cc engine.
The leading market players in the ABS market focus to expand their business operations in the emerging countries. The companies operating in the market have consistently introduced innovative solutions to enhance their product portfolio. Product development and partnerships are observed as the two prominent growth strategies adopted by the key market players. The major players profiled in this report include Robert Bosch GmbH, Continental AG, Autoliv Inc., Nissin Kogyo Co., Ltd., WABCO, ZF TRW, Hyundai Mobis, Denso Corporation, Hitachi Automotive Systems, Ltd., and ADVICS Co., Ltd.
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