The global ABS market is anticipated to grow at a considerable CAGR of 9.6% during the forecast period. The growing causalities in road traffic crashes have pushed several developed and developing economies to mandate ABS in vehicles, which in turn will bolster market growth. According to the National Crime Records Bureau (NCRB), in 2021, approximately 1.6 million died in road accidents in India. The major reason for road accidents includes over-speeding, rash driving, violation of rules, loss of control of the vehicle, failure to understand signs, and various others. Thus, the government of India introduced several strict rules and regulations for mandating the implementation of ABS in two-wheelers and four-wheelers. For instance, in July 2019, the Indian government introduced an initiative to make the country cleaner and safer by equipping mandatory ABS and speed limiters in all commercial vehicles. Under the initiative, all commercial vehicles weighing 12 tonnes or more including multi-axle, trackers, and trailers, are made mandatory to be equipped with an ABS system.
Browse the full report description of “Automotive Anti-Lock Braking System (ABS) Market Size, Share & Trends Analysis Report by Sub-System (Sensors, Electronic Control Unit (ECU), and hydraulic Unit), and by Vehicle Type (Two-Wheeler, Passenger Cars, and Commercial Vehicles) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/abs-market
Apart from this, developed nations including the US, Canada, and others witnessed a drastic increase in road crash incidences. As per the data released by the National Highway Traffic Safety Administration (NHTSA), the fatality rate in the US was 1.3 fatalities per 100 million VMT (Vitreomacular traction). Owing to such rising road fatalities, the country is involved in adopting ABS equipped vehicles for better safety.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Sub-System Type
o By Vehicle Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including BWI Group, Continental AG, Delphi Technologies, Robert Bosch GmbH, KEMI Labs, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Automotive Anti-Lock Braking System (ABS) Market Report Segment
By Sub-System Type
By Vehicle Type
Global Automotive Anti-Lock Braking System (ABS) Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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