Global Automotive Anti-Lock Braking System Market is expected to foresee steady growth. Asia Pacific holds the largest share!
- Vikas Kumar
- March 4, 2022
- AUTOMOTIVE, NEWS
- Automotive Anti-Lock Braking System Market Growth, Automotive Anti-Lock Braking System Market News, Automotive Anti-Lock Braking System Market Share, Automotive Anti-Lock Braking System Market Size, Automotive Anti-Lock Braking System Market Trend
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Global Automotive Anti-Lock Braking System Market is expected to grow at a CAGR of around 7% during the forecast period 2021-2027. Anti-lock braking systems are used in automobiles, lorries, buses, and motorbikes to prevent skidding. It keeps wheels from locking up and prevents cars from slipping out of control. In an emergency, the anti-lock braking system reduces the stopping distance on dry and slick roads and prevents the automobiles from colliding. Due to an increase in the frequency of road accidents, governments throughout the world are enacting severe laws for the installation of ABS in all types of cars. Nearly 1.3 million people die every year in road collisions, according to the Annual Global Road Crash Statistics, necessitating the incorporation of vehicle safety and control systems such as ABS in automobiles.
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The anti-lock braking system market is growing due to reasons such as rising demand for safety features, technical improvements in the automotive sector, and increased regulatory demands for vehicle safety. Furthermore, the market’s expansion is projected to be hampered by expensive maintenance and installation costs. During the projected period, however, the development of sophisticated braking systems for two-wheelers, as well as the rise of the untapped market of emerging nations, are expected to present profitable prospects for major market participants.
The global COVID-19 epidemic has had a substantial influence on the expansion of the vehicle anti-lock braking systems (ABS) industry. The dissemination of the innovation COVID-19 has had an impact on almost every industry on the planet. Lockdowns have been enacted by governments in numerous nations, forcing citizens to stay at home and reducing physical connection between people. To guarantee business continuity during the COVID-19 pandemic, most firms have permitted their staff to work from home, which is projected to stymie the growth of the vehicle anti-lock braking systems (ABS) market throughout the predicted timeframe. The growing emphasis on remote labour will stifle the expansion of the automobile sector, which will, in turn, stifle the growth of the anti-lock braking systems (ABS) market.
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For a better understanding of the market adoption of Automotive Anti-Lock Braking System, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Due to rising vehicle production and sales, Asia Pacific is expected to dominate the automotive anti-lock braking system market. Manufacturers in this region are concentrating their efforts on producing high-end ABS systems in order to attract more customers and get a competitive advantage over their competitors. The key automobile manufacturing countries in the area are India, South Korea, Japan, and China, which are driving the industry forward. Asia-Pacific is one of the world’s fastest-growing regions. Other major drivers driving market revenue growth include rapid urbanization, expanding commercial vehicle usage, rising disposable income, and strong demand for passenger automobiles. Other important reasons driving market expansion include strict government road safety regulations and requirements to install anti-lock brakes (ABS) in cars as a result of an increase in the frequency of road accidents.
For a detailed analysis of the market drivers browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=17986
Global Automotive Anti-Lock Braking System Market Segmentation
Market Insight, by Sub-System
- Electronic Control Unit
- Hydraulic Unit
Market Insight, by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Market Insight, by Region
- North America Automotive Anti-Lock Braking System Market
- United States
- Rest of North America
- Europe Automotive Anti-Lock Braking System Market
- United Kingdom
- Rest of Europe
- Asia Pacific Automotive Anti-Lock Braking System Market
- South Korea
- Rest of Asia-Pacific
- Rest of World Automotive Anti-Lock Braking System Market
Top Company Profiles
- Denso Corporation
- Robert Bosch GmbH
- Hitachi Automotive Systems Ltd.
- Continental AG
- Autoliv Inc.
- Hyundai Mobis Co., Ltd.
- ZF Friedrichshafen AG
- Aptiv PLC
- The Mando Corporation
- Nissin Kogyo Co.