Automotive ABS Market Overview
The global automotive anti-lock braking system (ABS) market is anticipated to raise at a steady rate mainly driven by the factors such as technological advancement, affordability, and amplified safety awareness, coupled with safety guidelines by various governments. ABS reduces the skidding of vehicle, which occurs when driver pushes the brake pedal of the vehicle in case of an emergency. Program like New Car Assessment Program (NCAP) and organizations such as Insurance Institute of Highway Safety, and International Centre for Automotive Technology evaluate safety grades of vehicles and compel automotive companies to include safety systems matching according to their parameters, which in turn, will boost the market growth.
On the basis of vehicle type, the automotive ABS market has been categorized into passenger car, commercial vehicle, and two-wheeler. Among these, passenger car category is expected to dominate the market, owing to the growth in production and sales of passenger cars. This is due to the fact that passenger car is the largest acceptor of vehicle safety system because of rigorous safety rules and increase in safety concern of end users.
Based on region, the automotive ABS market has been categorized into North America, Europe, Asia-Pacific (APAC), and rest of the world. Globally, APAC holds the largest share in the market, owing to the high-volume production of automobiles. China, Japan, and India are the leading automotive manufacturing countries, which are fueling the development of the market in the region. In addition, the growth of the market in the region is also propelled by auxiliary macroeconomic factors such as changing lifestyle, growing urbanization, and increasing alertness about active safety systems.
Automotive ABS Market Dynamics
Major drivers that are propelling the global automotive ABS market are governments’ guidelines and legislations, and consumers’ preference for safety. Growing number of deaths owing to road accidents, especially due to inappropriate braking sequence, has enforced governments of several counties to implement strict rules and regulations for the installation of ABS in vehicles.
In an attempt to reduce deaths and crashes, many governments are introducing regulations to ensure road safety. For instance, European Union made compulsory to install ABS in two-wheelers. Also, the Indian government, through a modification to the Motor Vehicle Act in 2017, has made ABS compulsory for all new models of commercial vehicles. Preference of customers for safety measures is also driving the automotive ABS market growth. Across the globe, automotive manufacturers are focusing on installing vehicle safety systems, which includes ABS, chassis control, and driver assistance systems, mainly due to rigorous safety laws.
Factors restraining the growth of the automotive ABS market are high maintenance cost and price fluctuation of raw materials. Also, an automobile installed with ABS may also go out of control if driven at a very high speed. Therefore, ABS is not applicable for reckless driving or failure of ABS to perceive the precise safety distance.
Automotive ABS Market Competitive Landscape
In the approaching years, the amplified demand for luxury cars from the APAC region, mainly from Japan, India, and China are expected to propel the development of the market, globally. Some of the players operating in the automotive ABS market are Aptiv PLC, Robert Bosch GmbH, Nissin Kogyo Co. Ltd., Autoliv Inc., Hyundai Mobis Ltd., Continental AG, WABCO Vehicle Control Systems, Hitachi Automotive Systems Ltd., DENSO Corporation, ZF Friedrichshafen AG, and Advics Co. Ltd.
The report will also provide country-wise analysis of the market. Some of the major countries covered in the report are the U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Norway, Poland, China, India, Japan, South Korea, Australia, Africa, Brazil, and Russia.