Anti-Lock Braking System Market
Anti-Lock Braking System Market Global Industry Assessment & Forecast
#
Pages:
142
2021
Nov - 2021
VMR-2021-0588
Segments Covered
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
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
38.59 Billion |
 Revenue 2028:
|
82.34 Billion |
 Revenue CAGR
(2021 - 2028): |
9.18% |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Anti-Lock Braking System Market - Global Market Assessment, 2021 - 2028
Anti-Lock Braking System Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
Secondary Research
Primary Research:
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Anti-Lock Braking System market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Anti-Lock Braking System market.
FAQ
Frequently Asked Question
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.
