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Global Anti-Lock Braking System Market Size is expected to reach USD 42.3 Billion by 2022, rising at a growth rate of 8.6% CAGR during 2016-2022.
Anti-lock braking system (ABS) is the technology, which acts as a safety system and is a great technology that minimizes accidents as it offers better road grip. ABS is designed to interpret inputs from the driver in the instances of braking to maintain traction, and as a result prevent wheels from locking up and provide better road grip. Better level of vehicle control is a direct benefit of ABS and to add to it, on loose gravel ground instances or snow-covered surfaces, ABS can significantly improve vehicle control and maneuverability. The developments within the automotive industry aren't limited just to enhancements in the design or engines, but developments also have been witnessed in areas such as safety of the vehicles, passengers and also the pedestrians.
The growth of the market is primarily driven due to growing focus on customer safety, the impending demand for comfort in driving along the need to adhere to the government regulations to ensure safety. However, factors such as pricing pressure, inflation, complexity and difficulty in testing systems are some of the biggest challenges of this industry. The major trends that would have notable growth are trends such as increased electronic content and electronic integration, deployment of ADAS in low-cost cars and a rise in number of driverless cars. The report highlights the adoption of Anti-lock Braking System (ABS).
Based on Sub System Type, the global Anti-lock Braking System (ABS) market is bifurcated into Sensor, Electronic Control Unit segment and Hydraulic Unit. Based on Vehicle Type, the global Anti-lock Braking System (ABS) market is bifurcated into Passenger Cars, Commercial Vehicles and Motor Cycle. Based on region, Anti-Lock Braking System (ABS) Market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. Asia-Pacific remained the dominant region in the global Anti-Lock Braking System (ABS) Market (ADAS) market in 2015. LAMEA would witness highest CAGR during the forecast period (2016-2022).
The report covers the analysis of key stakeholders of the Anti-Lock Braking System (ABS) Market. Key companies profiled in the report include Magna International, Inc., Autoliv Inc., Continental AG, Denso Corporation, Valeo S.A., Robert Bosch GmbH, Ford Motor Company and BMW AG.