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Automotive Anti-Lock Braking System (ABS) Market: 2018 Global Industry Size, Share, Growth, Trends, Outlook To 2023
Get Sample Copy of Global Automotive anti-lock braking system (ABS) Market Report at https://www.marketresearchfuture.com/sample_request/5413
Automotive anti-lock braking system (ABS)s (TLMSs) have applications across varied industry. Anti-lock braking systems are used to assist automotive for safe braking and easy steering in situations of wet or slippery road. The use of these systems in automotive prevents a person from slipping or skidding of a vehicle, and retains the control of steering after hard braking. The increase in demand of consumers for advanced safety features in the automobiles and the introduction of stringent safety laws & regulations by various transport authorities are driving the growth of anti-lock braking system.
Global Automotive anti-lock braking system (ABS) Market Companies Mentioned In Report:
Robert Bosch GmbH (Germany), Continental AG (Germany), Autoliv Inc. (Sweden), Nissin Kogyo Co., Ltd. (Japan), WABCO Vehicle Control Systems (Belgium), TRW Automotive (U.S.), Hyundai Mobis (South Korea), Denso Corporation (Japan), Hitachi Automotive Systems, Ltd. (Japan), and Advics Co., Ltd. (Japan).
The global Automotive anti-lock braking system (ABS) market is primarily driven by Leading automobile manufacturers are introducing anti-lock breaking system in both traditional and electric vehicles to the entry level vehicles. The increase in number of auto collision, increased safety awareness, development of advance braking system for two wheelers and the improving technical advancements for ensuring the safety of the passengers and the automotive, also add to the market growth.
The market is expected to witness growth opportunities over the forecast period with the expansion strategy, followed by key players to enter into untapped markets of developing economies and development of advanced braking systems for two wheelers.
However, fluctuations in the prices of raw materials, and the high cost of maintenance, restrain the market growth. Therefore, the global automotive anti-lock braking system (ABS) market has seen a remarkable growth in the global market and it has been observed that, its demand in the future is expected to grow with the CAGR of 7%.
Market Overview:
Based on vehicle type, the market has been segmented into two wheeler, passenger cars, and commercial vehicle. Passenger car segment is expected to dominate the anti-lock braking system market due to the increase in the production of large number of passenger cars in countries such as China, U.S., Germany, and India.
Geographically, the global automotive anti-lock braking system (ABS) market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to grow with the highest CAGR over the forecast period due to increasing diffusion rate for anti-lock braking system technology. In Asia Pacific, China is projected to dominate the growth of the anti-lock braking system market due to the increased road accidents and the rules & regulation imposed by government for installation of anti-lock braking system.
Inquire For Complete Report on Automotive anti-lock braking system (ABS) Market Report at: https://www.marketresearchfuture.com/reports/anti-lock-braking-system-market-5413
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