Anti-Lock Braking System Market

The global Anti-Lock Braking System market was valued at USD 38.59 Billion in 2020 and is projected to reach USD 82.34 Billion by 2028, growing at a CAGR of 9.18%% from 2021 to 2028.

Anti-lock braking system (ABS) is a safety system for automobiles which is intended to keep the wheel rotating and to prevent the skidding of the vehicle. It improves vehicle control and reduces the chances of collision on both dry and slippery surfaces. Automobile companies have equipped their vehicles with anti-lock braking system, traction control system (TCS), electronic brake force distribution (EBD), and electronic stability control (ESC) to offer advanced safety features and improve stability, control, & safety on difficult terrains.

This report provides an analysis of the Anti-Lock Braking System market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers a thorough insights on various tools such as SWOT analysis, PEST analysis, value chain analysis, Porter’s five forces analysis, pricing analysis, and technology roadmap among others. These assessments aid the industry stakeholders to analyze the Anti-Lock Braking System market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.

The COVID-19 outbreak has affected various industries worldwide. The Anti-Lock Braking System market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report covers exhaustive analysis on the global Anti-Lock Braking System industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.

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. 

The high maintenance and installation cost of the components of the anti-lock braking system is anticipated to hamper the growth of the anti-lock braking system market. The average maintenance and installation cost of anti-lock braking system is $2000, including labour cost for commercial vehicles. The electronic control module of anti-lock braking system costs from $1000 to $5000 which is not even readily available in the market. Thus, the high costs is restraining the growth of the market.

The report delivers an acute breakdown of the market based on various segments such as Product Types, Vehicle Type, and region. The report will cover market estimations and forecast for each segment by region for the years 20156–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Product Types, the market is divided into Four-Channel, Four-Sensor; Three-Channel, Three-Sensor and One-Channel, One-Sensor. Three-Channel, Three-Sensor held the largest share in 2020 and is projected to witness substantial growth during the forecast period.

Based on Vehicle Type, the market is divided into Two Whelers, Passenger Cars, Commercial Vehicles. Passenger Cars attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Based on the geography, the global Anti-Lock Braking System market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2016–2028. The regional analysis section also provides qualitative analysis comprising of regional trends such as drivers, restraints, opportunities and regulatory norms. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Anti-Lock Braking System market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Anti-Lock Braking System market are Mando, Knorr-Bremse, Guangzhou Sivco, Bosch, Continental, Kormee, Hyundai Mobis, TRW, Junen, Wabco, Nissin Kogyo, Wanxiang, APG, Hitachi, Dongfeng Electronic, ADVICS.. This section of the report comprising of a thorough profiling of companies based on various parameters such as company/business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.