Global Anti-Lock Braking System Market Analysis & Outlook 2030

In 2021, the global anti-lock braking system market is estimated to be valued at USD 45 billion and is expected to expand at a compound annual growth rate of 10% from 2022 to 2030. The Asia-Pacific region has increased its share in 2018 and is expected to maintain its leading position in the overall anti-lock braking system market forecast.

The Anti-lock Braking System (ABS) is an advanced active braking system used in automobiles to help the driver control the vehicle. It allows the wheels of the vehicle to maintain dynamic contact with the road, which is proportional to the braking input given by the driver. Improve vehicle control and reduce the chance of collisions on dry and smooth surfaces. Automobile companies have equipped their vehicles with anti-lock braking systems, traction control systems (TCS), electronic brake force distribution (EBD) and electronic stability control (ESC) to provide advanced safety features and improve stability in difficult situations Sex, control and safety. land. According to annual global road accident statistics, nearly 1.3 million people die in traffic accidents each year; therefore, the demand for automobile safety and control systems (such as ABS) increases.

 Increased demand for safety functions:
Due to the increase in the number of global traffic accidents, the demand for safety functions such as ABS, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is rising. According to data from the Association for Safe International Road Travel (ASIRT), nearly 1.3 million people die in traffic accidents worldwide each year, with an average of 3,287 deaths every day. In addition, traffic accidents are the ninth leading cause of death, accounting for 2.2% of all deaths worldwide. Therefore, increasing attention to these situations has increased the need to incorporate safety features in vehicles. Therefore, automobile companies are focusing on the production of safety features that will be enabled on vehicles; therefore, it is driving the growth of the anti-lock braking system market.

 Increased government requirements for vehicle safety:
Due to the increase in the number of fatal road accidents, governments around the world have promulgated regulations to implement vehicle safety measures. Countries such as India and France are implementing vehicle laws and regulations to enable safety systems such as ABS and ESC on their vehicles within a specified time. For example, the Indian government has regulated the installation of safety features such as automatic braking systems and advanced driving systems on vehicles circulating in the country. Since April 2015, the Indian government has passed amendments to the Motor Vehicles Act, which mandates that all new commercial vehicles must be equipped with ABS. In addition, automakers must obtain safety qualifications from organizations such as the Highway Insurance Association. Safety (IIHS), New Car Assessment Program (NCAP), and International Automotive Technology Center (ICAT) obtain licenses to sell vehicles on the market. Therefore, the rise of global vehicle safety agreements may promote the development of the anti-lock braking system market.

 High maintenance and installation costs:
The high maintenance cost of anti-lock brake system components is an obstacle to the growth of the anti-lock brake system market. On average, ABS installation and maintenance costs are $2,000, including labor costs for commercial vehicles. The cost of the ABS electronic control module is between US$1,000 and US$5,000, and it is not available on the market. The high maintenance and installation costs of anti-lock braking systems may become a potential obstacle to the growth of the ABS market.

 Development of advanced two-wheeler brake systems:
The development and innovation of two-wheeler brake systems may drive the growth of the anti-lock brake system market in the next few years. According to the report of the Ministry of Transport Research of India, two-wheelers accounted for the highest proportion of road traffic accidents in 2016 (25%). Therefore, the urgent need for safety systems in vehicle systems is increasing. Recent innovations, such as the scalable and modular anti-lock braking system, are designed for the braking characteristics of two-wheelers and can be applied to models ranging from low-power market segments to high-end sports bikes. The development of advanced braking systems for two-wheelers can provide operating companies with various growth opportunities in the ABS market.

 The main benefits of the anti-lock brake system market:
This study introduces an analysis overview of the global anti-lock brake system market analysis, as well as current trends and future estimates to represent the upcoming investment areas. It is determined by understanding profit trends to gain a stronger foothold. The report provides information related to the key drivers, constraints and opportunities of the global anti-lock braking system market, and provides a detailed impact analysis. Assessment of financial capability in 2022-2030. Porters five forces analysis illustrates the strength of buyers and suppliers in this industry.

 Key market segments for anti-lock braking systems:
according to subsystem type, sensor, electronic control unit, hydraulic unit, according to vehicle type, two-wheeled passenger car, commercial vehicle
 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.