Passenger Car Segment to Dominate Anti-Lock Braking System Market until 2024

Increasing incidents of road accidents and continuous efforts by the government of various economies to drive Global Anti-Lock Braking System (ABS) market through 2024

According to TechSci Research report, “Global Anti-Lock Braking System (ABS) Market By Vehicle Type, By Sub-System, By Demand Category, By Region, Competition Forecast & Opportunities, 2024”, global anti-lock braking system (ABS) market was valued at around $ 57 billion in 2018 and the market is poised to grow at a CAGR of over 8% in the next five years on account of growing concerns pertaining to safety, increasing number of on-road vehicles and stringent safety norms in various countries. Anti-lock braking systems use various kinds of mechanism to prevent accidents when compared with traditional brakes. Additionally, these systems are vital in poor weather conditions and slippery roads as they assist in maintenance of stability and control over steering.

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Global Anti-Lock Braking System (ABS) market can be segmented based on vehicle type, sub-system, demand category and region. In 2018, passenger car accounted for the largest share and the trend is anticipated to continue in the forthcoming years as well. This is due to high production and sales of passenger cars.

Robert Bosch GmbH, Autoliv Inc., Mando Corporation, Continental AG, ADVICS Co., Ltd., Aisin Seiki Co., Ltd., Denso Corporation, WABCO Holdings, Inc., among others are the leading players operating in the market. The companies operating in the market are employing various strategies including expansion, product development and collaboration in order to increase their share in the market. Companies such as Bosch and Continental are introducing advanced ABS which can be combined with advanced driver-assistance systems (ADAS) and electronic stability control (ESC), to register growth in the market.

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“Asia-Pacific held the largest share in the global anti-lock braking system market and the trend is likely to continue in the forthcoming years as well. This is due to increase in road safety regulations set by the government in countries such as India, China, among others. For instance, Indian government, in April 2019, mandated the installation of ABS in all the mini-buses and passenger. Such initiatives are positively influencing the growth of the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Anti-Lock Braking System (ABS) Market By Vehicle Type, By Sub-System, By Demand Category, By Company and By Geography, Forecast & Opportunities, 2024” has evaluated the future growth potential of global Anti-Lock Braking System (ABS) market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global Anti-Lock Braking System (ABS) market.

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