Anti Lock Braking System (ABS) Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global anti-lock braking system (ABS) market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period (2022-2028). The growing incidents of accidents and the ongoing efforts of governments around the world to reduce the number of accidents are major factors driving the ABS market. The governing bodies apply strict rules for the installation of ABS on all types of vehicles due to the increasing number of road accidents. In addition, this has made travel much safer than before, which has greatly increased the adoption of ABS-powered vehicles by consumers. The growing demand for these car safety features is expected to drive the market.

TThe ABS market is expected to show a high level of growth, as these systems are now widely used in two intervening wheels. Most of the two wheels in the developed market are luxury cars with the same safety features as the standard ones. However, in emerging markets, two-wheelers are the entry-level cars and are the cheapest. Additionally, the anti-lock braking system works in different ways compared to regular brakes. It works more accurately than normal brakes.

The hydraulic unit is the central part of the ABS consisting of an electronic control unit, which controls the brakes on each wheel and the return pump. In line with this, each wheel has a wheel-speed sensor that measures the speed and transmits information to the control unit. Under heavy braking, when the tire is about to be locked, the system reduces the braking pressure on that one wheel until the risk of locking is prevented. Brake pressure increases when the wheels turn freely. This increase and release of pressure continue until the driver reduces the force of the brake pedal. The anti-lock braking system has sensors, electronic control unit, and a hydraulic unit.

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

Competitive Landscape- ADVICS Co. Ltd., Autoliv Inc., Continental AG, Denso Corp., Robert Bosch GmbH, among others.

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Global Anti Lock Braking System (ABS) Market Report by Segment
By Type
•Sensors
•Electric Control Unit
•Hydraulic Unit
By Vehicle Type
•Two-Wheeler
•Passenger Cars
•Commercial Vehicles

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.