Passenger Car Segment to Dominate Anti-Lock Braking System Market until 2024
Increasing incidents of road
accidents and continuous efforts by the government of various economies to
drive Global Anti-Lock Braking System (ABS) market through 2024
According
to TechSci Research report, “Global Anti-Lock
Braking System (ABS) Market By Vehicle Type, By Sub-System, By Demand
Category, By Region, Competition Forecast & Opportunities, 2024”, global anti-lock braking system (ABS) market was valued at
around $ 57 billion in 2018 and the market is poised to grow at a CAGR of over 8%
in the next five years on account of growing concerns pertaining to safety,
increasing number of on-road vehicles and stringent safety norms in various countries.
Anti-lock braking systems use various kinds of mechanism to prevent accidents
when compared with traditional brakes. Additionally, these systems are vital in
poor weather conditions and slippery roads as they assist in maintenance of stability
and control over steering.
Browse 121 market data Figures spread through 110 Pages and an in-depth TOC on "Global
Anti-Lock Braking System (ABS) Market"
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Global Anti-Lock Braking System (ABS) market can be segmented based on
vehicle type, sub-system, demand category and region. In 2018, passenger car accounted
for the largest share and the trend is anticipated to continue in the
forthcoming years as well. This is due to high production and sales of
passenger cars.
Robert Bosch GmbH, Autoliv Inc., Mando Corporation, Continental AG,
ADVICS Co., Ltd., Aisin Seiki Co., Ltd., Denso Corporation, WABCO Holdings,
Inc., among others are the leading players operating in the market. The companies
operating in the market are employing various strategies including expansion,
product development and collaboration in order to increase their share in the
market. Companies such as Bosch and Continental are introducing advanced ABS
which can be combined with advanced driver-assistance systems (ADAS) and
electronic stability control (ESC), to register growth in the market.
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“Asia-Pacific
held the largest share in the global anti-lock braking system market and the
trend is likely to continue in the forthcoming years as well. This is due to
increase in road safety regulations set by the government in countries such as
India, China, among others. For instance, Indian government, in April 2019,
mandated the installation of ABS in all the mini-buses and passenger. Such
initiatives are positively influencing the growth of the market.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Anti-Lock Braking System (ABS) Market By
Vehicle Type, By Sub-System, By Demand Category, By Company and By Geography,
Forecast & Opportunities, 2024” has evaluated the future growth potential of global Anti-Lock
Braking System (ABS) market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global Anti-Lock
Braking System (ABS) market.
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