Anti-Lock Braking System Market Size USD 96.9 Billion by 2030

The global Anti-Lock Braking System Market is expected to witness steady growth over the forecast period, driven by rising automotive production and increasing adoption of advanced safety technologies. This analysis provides insights into the market size, trends, drivers, restraints, regional outlook, and competitive landscape.
An anti-lock braking system (ABS) is a safety feature on vehicles that prevents the wheels from locking up during braking, thus maintaining steering control and preventing skidding. ABS works by rapidly pulsing the brakes, which allows the wheels to keep rotating even when the driver is applying maximum braking force. This helps the driver to maintain control of the vehicle and avoid skidding, which can lead to accidents. ABS is a very effective safety feature, and it has been shown to reduce the risk of accidents by up to 30%. It is now required on all new cars in many countries, and it is a standard feature on most vehicles. If you are considering buying a new car, be sure to look for one that has ABS. It is a simple, but very effective, safety feature that can help to keep you safe on the road.

Anti-Lock Braking System Market Highlights and Statistics:

● Global market size will reach USD 96.9 billion by 2030 from USD 42.4 billion in 2021, growing at a CAGR of 9.7% during the forecast period.
● Passenger cars accounted for the biggest revenue share in 2022 owing to high penetration of ABS in compact and mid-sized models.
● Asia Pacific leads the market with the biggest share in 2022 due to large-scale vehicle manufacturing.
● Integration of ABS with electronic stability control (ESC) and traction control systems to boost product adoption.
● Rising sales of luxury and premium category vehicles to stimulate market growth.

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Anti-Lock Braking System Market Overview and Analysis:

The ABS market outlook is positive due to a number of factors. First, automotive production is rising, which means there will be more vehicles on the road that need ABS systems. Second, the cost of ABS components is falling, which makes them more affordable for automakers to install. Third, there is a growing focus on vehicle safety by both consumers and regulatory agencies, which is driving demand for ABS systems. Fourth, advancements in mechatronics and electronics are enhancing the braking performance, stability, and control of ABS systems. Finally, standardization of ABS in mid and low-end vehicle segments will broaden the adoption prospects of these systems. Overall, the ABS market is expected to grow significantly in the coming years due to these factors.

Trends Fueling Growth in the Anti-Lock Braking System Market:

● Advancements in ABS technology have led to the development of compact and lightweight modules that reduce weight, volume, and costs.
● Advanced sensors, pumps, valves, and controllers have been introduced to provide precise braking response.
● ABS is now being combined with other ADAS technologies such as traction control systems and electronic stability control.
● Electronically controlled brake systems have emerged to enhance braking performance.
● ABS features are now being integrated into two-wheelers and commercial vehicles.

Major Factors Driving Demand for Anti-Lock Braking Systems:

● Mandatory installation of ABS by regulatory bodies to improve vehicle and road safety.
● Rising global vehicle parc and production levels.
● Consumer preference for vehicles installed with advanced safety systems.
● Growth in sales of premium and luxury cars equipped with ABS as a standard feature.
● Technological advancements to further enhance ABS efficiency while reducing costs.

Key Challenges in the Anti-Lock Braking System Market:

● ABS systems are more expensive than conventional braking systems.
● ABS can be difficult to integrate into alternative powertrain platforms, such as hybrid and electric vehicles.
● Developing advanced ABS solutions requires significant research and development investment.
● ABS is not widely used in entry-level and mid-priced vehicles in emerging economies.
● ABS systems must strike a balance between performance, reliability, size, and cost.

Segmentation:

Based on the Sub System Type:
● Electric Control Unit
● Hydraulic Unit
● Sensors

Based on the Vehicle Type:
● Passenger Cars
● Commercial Vehicles
● Two-wheeler

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Regional Overview:

Based on region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market during the forecast period. This is attributed to the increasing demand for safety features in vehicles in North America. Asia Pacific is expected to grow at the highest CAGR during the forecast period. This is attributed to the rising automotive production and increasing demand for safety features in vehicles in Asia Pacific.

Leading Companies Offering Anti-Lock Braking Systems:

ADVICS Co. Ltd., Continental AG, Denso Corporation, Hyundai Mobis, Nissin Kogyo Co. Ltd., Robert Bosch GmbH, ZF TRW Automotive Holdings Corp. and Autoliv Inc.

Conclusion:

Increase in adoption across vehicle segments along with integration with newer ADAS technologies will be crucial for future growth.

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This release was published on openPR.