Hydraulic Anti-Lock Braking System Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global hydraulic anti-lock braking system market is anticipated to grow at a CAGR of 9.0% during the forecast period (2022-2028). Hydraulic anti-lock braking system works by stopping the wheels from locking up during braking, thereby maintaining tractive contact with the road surface and allowing the driver to maintain more control over the vehicle. This supports the wheels of a vehicle to maintain dynamic contact with the road surface, proportional to the braking inputs provided by the driver. The market growth is majorly attributable to such key advantages offered by the hydraulic anti-lock braking system. Further, owing to the reduced chances of collision on both dry and slippery surfaces and improved vehicle control, the demand for hydraulic anti-lock braking system is likely to grow during the forecast period.

The market growth is also attributed to the growing concerns for passenger as well as the driver's safety coupled with the introduction of stringent safety regulations & standards mandating the use of automotive seat belts. Motor vehicle crashes are the leading cause of work-related death mortalities across all industries globally. According to the National Safety Council of US, 1,038 workers died and 25,830 were injured in the work-related road accidents. Only heavy trucks are not involved in these work-related crashes, however, light fleet vehicles, such as pick-up trucks, passenger vehicles, SUVs, and vans are also responsible. Thus, to minimize such risks, the demand for hydraulic anti-lock braking system is likely to grow, thereby augmenting the growth of the global hydraulic anti-lock braking system market.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Application
•Regions covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape: Denso Corp., Autoliv Inc., and Continental AG, among others.

A full report Hydraulic Anti-Lock Braking System Market of is available at:  https://orionmarketreports.com/hydraulic-anti-lock-braking-system-market/102272/

Global Hydraulic Anti-Lock Braking System Market Report by Segment
By Type
•One Channel, One Sensor
•Three Channel, Three Sensor
•Four Channel, Four Sensor
By Application
•Passenger Vehicles
•Light Trucks
•Mini Cargo Buses

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.