Anti-Lock Braking System Market Growth by Top Companies with Forecast 2030

The Global Anti-Lock Braking System Market size valued to USD 40.81 billion in 2019, is predicted to reach USD 110.91 billion by 2030, witnessing a CAGR of 9.5% from 2020-2030.

Anti-lock Braking System (ABS) is a sophisticated and effective braking system used in two-wheelers, passenger car, commercial vehicles, or other automobiles. Its anti-skid safety system prevents wheel lock under braking, hence maintaining tractive control with road surface. ABS help improve steering control, decreasing the stopping distances on loose gravel, snow-covered surfaces, dry surfaces as well as slippery surface, thereby avoiding vehicle collision.

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Top Companies: Autoliv Inc., Advics Co., Ltd., Continental AG, Hitachi Automotive Systems Ltd., Denso Corporation, Nissin Kogyo Co., Ltd., Hyundai Mobis Co., Ltd., WABCO, Robert Bosch GmbH and others.

Market Dynamics and Trends

The global anti-lock braking system market is on a spur due to escalating number of road-crashes and consequent increase in the death rates. Besides, factors such as increase in number of vehicles, stringent government polices to ensure the maximum safety features, growing demand from the consumers side for advanced safety features as well as increasing awareness towards safe-driving, are expected to foster the market growth throughout the forecast period.

Furthermore, the advanced safety features offered by ABS such as reduced tier wear, reduced braking distance, automated anti-collision system as well as stable braking characteristics on all kinds of road surfaces are anticipated in supplementing the growth of the global anti-lock braking system market.

However, factors such as high installation and maintenance cost as well as lack of skilled work-force, are expected to impede the growth of the anti-lock braking system market during the forecast period. Moreover, the growing demand of passenger cars, increasing installation of ABS in two-wheelers, expansion of ABS market in the developing economies as well as its introduction in electric vehicle and conventional vehicles by the leading manufactures, tend to pave the way for lucrative opportunities in the global anti-lock braking system market in the future.

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Geographical Analysis

North America is expected to dominate the global anti-lock braking system market, holding the major market share throughout the forecast period. Increased adoption of anti-lock braking system, technological advancement, presence of well-established infrastructure as well as increased demand of safety features are expected to propel the growth of anti-lock braking system market.

Asia-Pacific region specifically the emerging economies are expected to demonstrate a substantial growth in the global anti-lock braking system market with the highest CAGR, throughout the forecast period. This is attributable to stringent government polices to ensure maximum safety features, upsurge in road accidents, increase in disposable income, as well as extensively growing demand for passenger cars.

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This release was published on openPR.