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Automotive Antilock Braking System And Electronic Stability Control Market Size, Share, Trends Analysis, And Forecast To 2033
Automotive Antilock Braking System And Electronic Stability Control Market Share
As per the report, the automotive antilock braking system and electronic stability control market size has grown strongly in recent years. It will grow from $52.31 billion in 2023 to $56.37 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The automotive antilock braking system and electronic stability control market size is expected to see strong growth in the next few years. It will grow to $76.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
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Increasing Accident Rates Driving Growth In Automotive Anti-Lock Braking And Stability Control Markets
The increasing rate of accidents is expected to propel the growth of the automotive antilock braking system and electronic stability control market going forward. Accidents are rising due to increased vehicle usage and distracted driving, often caused by mobile device use. Additionally, insufficient infrastructure and driver errors contribute to the growing number of accidents. Antilock braking systems prevent wheels from locking during braking, improving steering control and reducing collision risks, while electronic stability control enhances vehicle stability by detecting and minimizing skids, thereby lowering accident rates significantly. For instance, in May 2022, the National Highway Traffic Safety Administration, a US-based federal government, reported a 10.5% rise in motor vehicle crash fatalities, with an average of 42,915 deaths compared to 38,824 in 2020. Therefore, the increasing rate of accidents is driving the growth of the automotive antilock braking system and electronic stability control market.
Innovative Electric Braking Systems Revolutionize Automotive Safety
Major companies operating in the automotive antilock braking systems and electronic stability control market are focused on developing innovative technologies, such as electric braking systems, to strengthen their position in the market. Electric braking systems aim to enhance safety, efficiency, and performance in vehicles by leveraging electronic controls to manage braking force more effectively than traditional hydraulic systems. For instance, in October 2022, Lippert International Inc., a US-based producer of high-quality connection systems, introduced a fully integrated electric anti-lock braking system. This new system integrates cutting-edge technology to enhance trailer safety and performance. Its key features include real-time monitoring of wheel speed, which allows for precise control and prevents wheel lock-up during braking. The system is designed to be robust and reliable, capable of operating effectively in various road and weather conditions. Lippert's ABS promises to set a new standard in trailer braking technology, ensuring smoother and safer towing experiences for users across diverse applications.
The automotive antilock braking system and electronic stability control market covered in this report is segmented -
1) By Technology: Three Channel Antilock Braking System, Four Channel Antilock Braking System, Electronic Stability Control
2) By Vehicle Type: Compact Vehicle, Mid-Sized Vehicle, Premium Vehicle, Luxury Vehicle, Commercial Vehicle, Heavy Commercial Vehicle
3) By End Use: Original Equipment Manufacturer, Aftermarket
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Major companies operating in the automotive antilock braking system and electronic stability control market are Toyota Motor Corporation, Ford Motor Company, Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Nissan Motor Co. Ltd., Tata Motors Limited, DENSO Corporation, Continental AG, Hyundai Mobis Co. Ltd., ZF Friedrichshafen AG, Aisin Corporation, Schaeffler Group, Murata Manufacturing Co. Ltd., Autoliv Inc., Knorr-Bremse AG, Akebono Brake Industry Co. Ltd., Bendix Commercial Vehicle Systems LLC, Veoneer HoldCo LLC, Haldex AB, Magneti Marelli, Delphi Technologies, WABCO Holdings Inc.
Contents of the report:
1. Executive Summary
2. Automotive Antilock Braking System And Electronic Stability Control Market Report Structure
3. Automotive Antilock Braking System And Electronic Stability Control Market Trends And Strategies
4. Automotive Antilock Braking System And Electronic Stability Control Market - Macro Economic Scenario
5. Automotive Antilock Braking System And Electronic Stability Control Market Size And Growth
…..
27. Automotive Antilock Braking System And Electronic Stability Control Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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