The latest report by IMARC Group, titled “Anti-Lock Braking System (ABS) Market Report by Component Type (Speed Sensors, Electronic Control Units (ECU), Hydraulic Units), Vehicle Type (Two Wheelers, Passenger Cars, Commercial Vehicles), End-Use (OEM, Replacement Demand), and Region 2024-2032“, The global anti-lock braking system (ABS) market size reached US$ 46.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 91.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032. 

The anti-lock braking system (ABS) is a crucial safety feature in vehicles that is activated when the brakes are applied suddenly in emergency situations. It is composed of various components such as control modules, a brake control unit, wheel speed sensors, and a hydraulic pressure modulator. The system enables the wheels of a vehicle to maintain contact with the road surface, corresponding to the braking inputs given by the driver. This significantly reduces the risk of skidding, particularly in slippery conditions, and provides increased stopping power, improved traction control, and enhanced vehicle stability. Additionally, ABS lowers maintenance expenses, minimizes insurance costs, and improves traction control, ultimately increasing the resale value of the vehicle. Due to its numerous benefits, ABS is widely used in passenger cars, two-wheelers, and commercial vehicles.

Anti-Lock Braking System (ABS) Market Trends and Drivers:

The global market is experiencing significant growth primarily due to the increasing demand for anti-lock braking systems (ABS) as a result of the rising number of road accidents worldwide. Furthermore, the market is boosted by heightened safety concerns among consumers and a growing awareness of the advantages of ABS, including shorter braking distances, compatibility with different road surfaces, and reduced wear and tear. An innovative braking system tailored for two-wheelers, such as a versatile ABS system designed to enhance braking performance across various models, is also driving market expansion. Additionally, the enforcement of stringent safety regulations by governments and the launch of initiatives to promote vehicle safety are key factors fueling market growth. Notably, organizations such as the Insurance Institute of Highway Safety, the New Car Assessment Program, and the International Center for Automotive Technology have played a crucial role in enhancing vehicle safety standards, leading to increased adoption of ABS technology. According to Regulation (EU) No 168/2013, motorcycles in the L3e-A1 subcategory must be equipped with an advanced braking system (ABS) or a combined braking system (CBS), or both, at the manufacturer's discretion. The use of ABS is becoming more widespread in various regions, with the Asia-Pacific market being one of the largest due to the increasing number of accidents and the growing automotive sector, which is driven by the rising demand for vehicles among individuals. The industry can expect to face competition in the coming years as various key players adopt competitive strategies to maintain their market presence. For example, in March 2022, ZF showcased its Commercial Vehicle Solutions' product and technology range for heavy-duty trucking applications at TMC 2022 in Orlando, which includes advanced driver assistance systems (ADAS), both pneumatic and hydraulic anti-lock braking systems (ABS), and steering solutions.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/anti-lock-braking-system-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component Type:

  • Speed Sensors
  • Electronic Control Units (ECU)
  • Hydraulic Units

Breakup by Vehicle Type:

  • Two Wheelers
  • Passenger Cars
  • Commercial Vehicles

Breakup by End-Use:

  • OEM
  • Replacement Demand

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Advics Co. Ltd.
  • Aisin Seiki
  • Continental AG
  • Denso Corporation
  • Hitachi Automotive System Ltd
  • Mando Corporation
  • Robert Bosch GmbH
  • Wabco Ltd.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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