Anti-lock Braking System Abs Market Overview 2024-2032, Industry Size, Share, Trends and Forecast

The latest report by IMARC Group, titled “Anti-Lock Braking System (ABS) Market Report by Component Type (Speed Sensors, Electronic Control Units (ECU), Hydraulic Units), Vehicle Type (Two Wheelers, Passenger Cars, Commercial Vehicles), End-Use (OEM, Replacement Demand), and Region 2024-2032“, The global anti-lock braking system (ABS) market size reached US$ 46.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 91.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032. 

In emergency braking scenarios, a vehicle's anti-lock braking system (ABS) springs into action, playing a vital role in ensuring safety on the road. This complex system consists of multiple components, including control modules, a brake control unit, wheel speed sensors, and a hydraulic pressure modulator, all working in tandem. By maintaining wheel contact with the road surface, ABS helps prevent skidding, especially on slippery roads, while also boosting stopping power, traction control, and overall vehicle stability. Furthermore, this system reduces maintenance costs, insurance premiums, and improves traction control, thereby increasing the vehicle's resale value. Given its numerous advantages, ABS has become a ubiquitous feature in passenger cars, motorcycles, and commercial vehicles.

Anti-Lock Braking System (ABS) Market Trends and Drivers:

The worldwide demand for anti-lock braking systems (ABS) is surging, driven primarily by the alarming rise in road accidents globally, which in turn is fueling the growth of the global market. The market is also receiving a boost from the growing emphasis on safety among consumers, who are becoming increasingly aware of the benefits of ABS, including improved stopping power, adaptability to diverse road surfaces, and extended brake life. A pioneering braking system designed specifically for two-wheeled vehicles, which can be customized to optimize braking performance across different models, is another key driver of market expansion. Moreover, the implementation of rigorous safety standards by governments and the introduction of initiatives to promote vehicle safety are significantly contributing to the market's upward trajectory. Notably, organizations such as the Insurance Institute of Highway Safety, the New Car Assessment Program, and the International Center for Automotive Technology have been instrumental in elevating vehicle safety benchmarks, resulting in a greater uptake of ABS technology. Under EU Regulation 168/2013, L3e-A1 category motorcycles are required to feature either an advanced braking system (ABS), a combined braking system (CBS), or a combination of both, at the manufacturer's option. The adoption of ABS technology is gaining traction globally, with the Asia-Pacific region emerging as a significant market driven by a surge in accidents and a thriving automotive industry fueled by growing individual demand for vehicles. The industry is expected to face intense competition in the coming years as major players employ aggressive strategies to maintain their market share. For instance, in March 2022, ZF unveiled its Commercial Vehicle Solutions portfolio, featuring cutting-edge products and technologies for heavy-duty trucking applications, including advanced driver assistance systems (ADAS), ABS systems, and steering solutions, at the TMC 2022 event in Orlando.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/anti-lock-braking-system-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component Type:

• Speed Sensors
• Electronic Control Units (ECU)
• Hydraulic Units

Breakup by Vehicle Type:

• Two Wheelers
• Passenger Cars
• Commercial Vehicles

Breakup by End-Use:

• OEM
• Replacement Demand

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• Advics Co. Ltd.
• Aisin Seiki
• Continental AG
• Denso Corporation
• Hitachi Automotive System Ltd
• Mando Corporation
• Robert Bosch GmbH
• Wabco Ltd.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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