Anti-Lock Braking System Market

Anti-Lock Braking System Market by Product Types (Four-Channel, Four-Sensor; Three-Channel, Three-Sensor and One-Channel, One-Sensor) by Vehicle Type (Two Whelers, Passenger Cars, Commercial Vehicles) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Anti-Lock Braking System in terms of revenue?

    The global Anti-Lock Braking System valued at 38.59 Billion in 2020 and is expected to reach 82.34 Billion in 2028 growing at a CAGR of 9.18%%

  • Which are the prominent players in the market?

    The prominent players in the market are Mando, Knorr-Bremse, Guangzhou Sivco, Bosch, Continental, Kormee, Hyundai Mobis, TRW, Junen, Wabco, Nissin Kogyo, Wanxiang, APG, Hitachi, Dongfeng Electronic, ADVICS..

  • At what CAGR is the market projected to grow within the forecast period?

    The market is project to grow at a CAGR of 9.18%% between 2021 and 2028.

  • What are the driving factors fueling the growth of the market.

    The driving factors of the Anti-Lock Braking System include

    • The increasing demand for safety features is anticipated to augment the growth of the anti-lock braking system market during the forecast period. This is attributable to the increase in number of road accidents across the globe. According to the Association of Safe International Road Travel, approximately 1.35 million people die in road crashes each year; on average 3,700 people lose their lives every day on the roads. Therefore, increase in number of fatalities and concern regarding these conditions has increased the demand for implementation of safety features in the vehicles. Hence, most of the automobile companies are focusing towards incorporating safety features in the vehicles; thereby, driving the growth of the anti-lock braking system market.
    • The increase in implementation of regulations by the governments across the globe to install safety measures in the vehicle is expected to propel the growth of the market. This is due to increase in number of road accidents leading to death. In economies such as India and France various laws and regulations are been enforced on vehicles to enable safety systems like ABS and ESC in their vehicles. Moreover, automobile manufacturers need to obtain safety ratings by authorized organizations to access a sales license for vehicles in the market. Hence, increase of global safety protocols for vehicle safety is likely to drive the for global anti-lock braking system market.

  • Which region accounted for the largest share in the market?

    North America was the leading regional segment of the Anti-Lock Braking System in 2020.

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