Press release
Global Anti-Lock Braking System Market Industry Trends,Estimation & Forecast, 2018 - 2025
Anti-Lock Braking System Market Industry
Development and innovation in braking systems of two-wheelers can propel the growth of the anti-lock braking system market in the upcoming years. According to the report by the Transport Research Wing of India, two-wheelers accounted for the highest share in total road accidents (25%) in 2016. Therefore, an urgent need for safety systems for the anti-lock braking system is on a rise. Recent innovations, such as modular and scalable anti-lock braking systems, are specially designed for the braking characteristics of two-wheelers and can be adapted to models ranging from the lower power segment to high-end sports bikes. The development of advanced braking systems for two-wheelers can unfold various opportunities to the operating companies for growth in the ABS market.
“Global Anti-Lock Braking System market is valued at USD37.6 million in 2018 and it is expected to reach more than USD78.65 billion by 2025, likely to grow at a CAGR of9.4 % during the forecast period”
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By vehicle type, two-wheelers accounted for the highest share in total road accidents (25%) in 2016. Therefore, an urgent need for safety systems for the anti-lock braking system is on a rise. Recent innovations, such as modular and scalable anti-lock braking systems, are specially designed for the braking characteristics of two-wheelers and can be adapted to models ranging from the lower power segment to high-end sports bikes. The development of advanced braking systems for two wheelers can unfold various opportunities to the operating companies for growth in the ABS market.
North America had the highest market share of 38% globally. followed by Europe and Asia Pacific region respectively. In terms of growth rate, Asia Pacific is the highest growing market with double-digit CAGR, followed by Japan and South Korea. The growth in Asia Pacific segment of the global anti-lock braking system (ABS) market is fueled by increasing penetration rate of ABS in regions like China and India due to supporting macroeconomic factors such as rising income and purchasing power, changing lifestyle to due growing urbanization and increasing awareness of active safety systems. Additionally, countries like Japan and South Korea are also forecast to register significant growth in demand for ABS is expected to account for double-digit growth in terms of revenue in the global anti-lock braking system (ABS) due to stringent government legislations and safety norms.
The global anti-lock braking system (ABS) market is fragmented with a number of global and local players. Some of the key players in the global anti-lock braking system (ABS) and electronic stability control system (ECS) market are Autoliv Inc., Continental Ag, Delphi Automotive Plc, Denso Corporation, Robert Bosch GMBH, and TRW Automotive.
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