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Explore Global Automotive Anti-lock Braking System (ABS) Market Size, Share, Development, Growth and Demand Forecast to 2023
Automotive Anti-lock Braking System (ABS) Market
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The stringent safety government regulations and increased safety awareness in various countries is expected to boost the growth of the global automotive anti-lock braking system market in the near future.
The increasing number of deaths caused due to road accidents, especially improper braking sequence, has forced the government in many regions to implement stringent rules and regulations, and deploy ABS in vehicles. Presently, the integration of airbags in two-wheeler vehicles is only mandatory in the developed markets, which is a factor hindering the growth of the market of automotive anti-lock braking system in the developing countries.
Asia-Pacific accounted for the largest share in the global automotive anti-lock braking system market, due to the large automotive production volume in this region. North America and Middle East & Africa held the second and third place in the global automotive ABS market.
China and India are the major automotive producing countries, which are driving the growth of the automotive anti-lock braking system market in Asia-Pacific.
The growth in Asia-Pacific automotive anti-lock braking system market is fueled by increasing penetration of electronic stability control (ECS) and ABS in countries, such as China and India due to supporting macroeconomic factors, including changing lifestyle due to growing urbanization, up surging disposable income and purchasing power, and increasing awareness of active safety systems.
Wabco Holdings developed the first anti-lock breaking system for the automobile industry in 1981. In the coming years, the increased demand for luxury cars from European and Asia-Pacific countries, mainly China, India, and Japan, is expected to drive the growth of the global market.
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Robert Bosch GmbH, Delphi Automotive LLP, Continental AG, Hyundai Mobis Ltd., Autoliv Inc., DENSO CORPORATION, TRW Automotive Inc. are some of the competitors in the global automotive anti-lock braking system market.
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