Vehicle TypeĬustomized per your requirements. For each segment, the market sizing and forecast have been done on the basis of value (USD billion) for all the above segments. The report also covers the market size and forecast for the automotive anti-lock braking system market across the regions mentioned. The market has been segmented by vehicle type into motorcycles, passenger cars, and commercial vehicles.īy Geography, the market has been segmented into North America, Europe, Asia-pacific, and the Rest of the world. ABS operates by preventing the wheels from locking up during braking, thereby maintaining tractive contact with the road surface and allowing the driver to maintain more control over the vehicle.Īutomotive Anti-lock Braking System Market has been segmented by vehicle type and geography. However, Asia-pacific is projected to become the key market for the automotive anti-lock braking system, with Japan, India, and China, the major automotive manufacturing hubs during the forecast period.Īn anti-lock braking system (ABS) is a safety anti-skid braking system used on aircraft and land vehicles, such as cars, motorcycles, trucks, and buses. Increased adoption of such safety systems in passenger vehicles is expected to boost the market during the forecast period. But in emerging markets, two-wheelers are the cheapest and entry-level vehicles. Most of the two-wheelers in the developed markets are high-end vehicles that have similar safety features as standard. The ABS market is expected to show a high growth rate, as these systems are starting to be used extensively in entry-level two-wheelers. Nearly 3,300 people die every day due to road crashes, and about 9/10th of the casualties occur in middle and low-income countries that have less than half of the world’s total vehicles. Over the long term, the increasing acceptance of ABS systems is the increasing focus on safety and the potential reduction in road-accident-related deaths. However, with the expected increase in sales of passenger vehicles and increased awareness of safety in both passenger and commercial vehicles, the market is looking forward to reviving and growing economically back to pre-covid conditions. Also, with significantly less or almost zero vehicular movements, the aftermarket sector of the industry did not register many sales. With low vehicle sales reported In 2020, the significant market potential for the anti-lock braking system market was completely low. The COVID-19 pandemic had a negative impact on the market. The automotive anti-lock braking system market was valued at 49.06 billion in 2021 and is expected to reach USD 88.39 billion by 2027, registering a CAGR above 9% during the forecast period (2022 - 2027).
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