Market Size of Asia-Pacific Automotive Anti-Lock Braking System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Automotive Anti-Lock Braking System Market Analysis
The Asia-Pacific Automotive Anti-Lock Braking System market is anticipated to register a CAGR of more than 7% during the forecast period (2020 - 2025).
- Nowadays, Anti-lock braking system (ABS) is used in almost every modern car. It automatically provides optimum braking force and avoids of lockup of wheels. Anti-Lock Braking System helps control the direction of the vehicle due to a spin-out or plow out, resulting in a complete loss of steering control. It significantly reduces the risk of being in a rollover, which is one of the most dangerous types of single-vehicle crashes.
- In 2019, 1.35 million people lost their lives in road traffic crashes worldwide, with 90% of causalities belonging to developing countries. Also, most of these developing countries are mainly situated in the Asia Pacific. As a result, emerging markets such as India will become the largest ABS market in the future, which is expected to drive the market.
- However, ABS in 2-wheelers, especially in cost-conscious markets, sometimes offers a single channel with only a front-wheel with an ABS. Also, entry-level cars aren't offering ABS with a higher safety system. However, with emerging technologies and growing government policies, entry-level and 2- wheelers will see a higher adoption towards ABS systems since results have shown that even a lower ABAS equipped system may increase braking distances.
