Press release
Anti-Lock Braking System and Electronic Stability Control System Market Trends and Segments 2015-2025
Manufacturing vehicles with new design, hi-tech innovation, fuel efficiency and enhanced safety are the major challenges for automakers today. Need for extra comfort driving and active safety features has resulted in evolution of anti-lock braking system (ABS) and electronic stability control system (ECS). The ABS and ECS active safety systems are mainly used for reducing accidents and mitigating its impact.
Drivers for Anti-Lock Braking System and Electronic Stability Control System Market
Rising safety concern all over the world is shifting consumer preference to look for active safety systems like ABS and ESC. ABS is an active type of safety system which prevents the wheels from ceasing rotation and avoids uncontrolled skidding. The main application of ABS system is improve vehicle control and decrease the stopping distances on slippery and dry surfaces.
Automakers are also demonstrating the application and advantage of this technology through several media platform to increase awareness together with making it as differentiating factor. Increased acceptance of ABS by original equipment manufacturers (OEMs) and by customers across the globe has resulted into pushing ABS capability upward by frequent up gradation such as electronically control of the front-to-rear brake bias. Additionally, the capability of ABS can be enhanced by implementing traction control system, electronic brake force distribution (EBD) and electronic stability control.
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In order to minimize the loss of steering control, ESC system is used. ECS is set of sensor devices and software also known also referred to as dynamic stability control (DSC) or electronic stability program (ESP). In Europe and United States the government has mandate use of ABS and ESC system in all new passenger cars.
Anti-Lock Braking System and Electronic Stability Control System Market Segmentation
The global anti-lock braking system (ABS) and electronic stability control system (ECS) market is expanding rapidly due to various factors, such as stringent government norms related to safety and consumer preferences shifting to new technology advancement and active safety features.
Regional Outlook on Anti-Lock Braking System and Electronic Stability Control System Market
The global anti-lock braking system (ABS) and electronic stability control system (ECS) market can be segmented as vehicle type, channel type, product type and geographical regions. The global anti-lock braking system (ABS) and electronic stability control system (ECS) market is geographically sub-segmented into seven key regions namely North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. In 2013, North America accounted for largest share in global anti-lock braking system (ABS) and electronic stability control system (ECS) market, 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) and electronic stability control system (ECS) market is fueled by increasing penetration rate of ABS and ECS in region 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 is also forecast to register significant growth in demand for ABS and ESC system and is expected to account for double digit growth in terms of revenue in the global anti-lock braking system (ABS) and electronic stability control system (ECS) market due to stringent government legislations and safety norms.
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Key Players in the Anti-Lock Braking System and Electronic Stability Control System Market
The global anti-lock braking system (ABS) and electronic stability control system (ECS) market is fragmented with number of global and local player. Some of the key players in the global anti-lock braking system (ABS) and electronic stability control system (ECS) market are Autoliv Inc., Contenental Ag, Delphi Automotive Plc, Denso Corporation, Robert Bosch GMBH and TRW Automotive.
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