Automotive ABS & Electronic Stability Control Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
|CAGR:||> 9 %|
*Disclaimer: Major Players sorted in no particular order
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Automotive ABS & Electronic Stability Control Market Analysis
The automotive anti-lock braking system market was valued at 49.06 billion in 2021 and is expected to reach USD 88.39 billion by 2027, registering a CAGR above 9% during the forecast period (2022 - 2027).
The COVID-19 pandemic had a negative impact on the market. With low vehicle sales reported In 2020, the significant market potential for the anti-lock braking system market was completely low. Also, with significantly less or almost zero vehicular movements, the aftermarket sector of the industry did not register many sales. However, with the expected increase in sales of passenger vehicles and increased awareness of safety in both passenger and commercial vehicles, the market is looking forward to reviving and growing economically back to pre-covid conditions.
Over the long term, the increasing acceptance of ABS systems is the increasing focus on safety and the potential reduction in road-accident-related deaths. Nearly 3,300 people die every day due to road crashes, and about 9/10th of the casualties occur in middle and low-income countries that have less than half of the world’s total vehicles.
The ABS market is expected to show a high growth rate, as these systems are starting to be used extensively in entry-level two-wheelers. Most of the two-wheelers in the developed markets are high-end vehicles that have similar safety features as standard. But in emerging markets, two-wheelers are the cheapest and entry-level vehicles. Increased adoption of such safety systems in passenger vehicles is expected to boost the market during the forecast period.
However, Asia-pacific is projected to become the key market for the automotive anti-lock braking system, with Japan, India, and China, the major automotive manufacturing hubs during the forecast period.
Automotive ABS & Electronic Stability Control Industry Segmentation
An anti-lock braking system (ABS) is a safety anti-skid braking system used on aircraft and land vehicles, such as cars, motorcycles, trucks, and buses. ABS operates by preventing the wheels from locking up during braking, thereby maintaining tractive contact with the road surface and allowing the driver to maintain more control over the vehicle.
Automotive Anti-lock Braking System Market has been segmented by vehicle type and geography.
The market has been segmented by vehicle type into motorcycles, passenger cars, and commercial vehicles.
By Geography, the market has been segmented into North America, Europe, Asia-pacific, and the Rest of the world.
The report also covers the market size and forecast for the automotive anti-lock braking system market across the regions mentioned. For each segment, the market sizing and forecast have been done on the basis of value (USD billion) for all the above segments.
Automotive ABS & Electronic Stability Control Market Trends
This section covers the major market trends shaping the Automotive ABS & Electronic Stability Control Market according to our research experts:
Government Regulations Likely to Drive Adoption of ABS in Passenger Cars
The automotive anti-lock braking system market is primarily driven by the growing demand for vehicle safety and control systems in automobiles, such as anti-lock brakes (ABS). Furthermore, the implementation of strict regulations dictating safety standards, and the launch of various programs highlighting the importance of vehicle safety, have fuelled market expansion.
In Europe, all new passenger cars must be equipped with ABS since 2004. The United States took nearly a decade to mandate ABS in all new passenger cars. The National Highway Traffic Safety Administration (NHTSA) mandated ABS in conjunction with Electronic Stability Control (ESC) under the provisions of the March 2007 Federal Motor Vehicle Safety Standard (FMVSS) No. 126.
The increasing safety standards in the automotive industry globally are driving the developing countries to follow the developed countries, where all new passenger cars are sold with ABS as a standard feature.
The Ministry of Road Transport and Highways (MoRTH) in India notified that ABS is mandatory for all new passenger cars and two-wheelers from April 2019. In 2021, nearly 92% of the passenger car sold had been equipped with ABS, owing to the mandatory ABS rule in countries like Japan and Brazil.
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Government Regulations Across the World are Driving the ABS Market
The increasing rate of accidents and the continuous efforts of governments worldwide to reduce the number of casualties is a significant drivers for the anti-lock braking systems market.
Asia-Pacific is one of the fastest-growing markets globally. The increasing demand for the region's anti-lock braking system (ABS) is supported by the increase in road safety rules, which ensures that all new vehicles are equipped with ABS. For instance,
- The Indian government has mandated that all cars and mini-buses install an anti-lock braking system (ABS) by April 2019. According to the Road Transport Ministry, all new vehicles must comply with the norms from April 2018 onward. Similarly, all new vehicles of the existing models will have to install the ABS from April 2019 onwards. Moreover, ABS will be mandatory for two-wheelers with more than a 125cc engine.
- In July 2020, Under Regulation (EU) No 168/2013, motorcycles in the L3e-A1 subcategory must be fitted with an advanced braking system consisting of either an anti-lock braking system (ABS) or a combined braking system (CBS) or both at the discretion of the manufacturer.
The National Transportation Safety Board (NTSB) promotes anti-lock brakes in the manufacturing process of motorcycles in the United States. The NTSB does not have the right to create laws, so it aims to persuade the NHTSA, an organization responsible for introducing and enforcing road safety rules. The Insurance Institute for Highway Safety found that motorcycles furnished with anti-lock brakes have a 31% lower crash rate than bikes without the feature.
The European Union parliament mandated anti-lock braking systems as the standard equipment in motorcycles built in 2016. The Insurance Institute of Highway Safety reported that 8.9% of registered motorcycles were required to have anti-lock brake systems in 2017. This number had increased steadily since 2002 when anti-lock brake technology was considered a standard equipment on only 0.2% of motorcycles.
The anti-lock brake system (ABS) market is anticipated to grow during the forecast period. Developed and developing countries are making the anti-lock braking system (ABS) mandatory in four-wheelers and two-wheelers to reduce the number of causalities.
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Automotive ABS & Electronic Stability Control Industry Overview
The automotive anti-lock braking system market is dominated by major players, such as Robert Bosch GmbH, Autoliv Inc., Continental Reifen Deutschland GmbH, DENSO Corporation, and ZF Friedrichshafen AG.
The companies are strategically investing, making acquisitions, and entering into partnerships in key technologies. Also, almost all passenger vehicles are equipped with an anti-lock braking system, which drives the market growth.
- In March 2022, Haldex signed a long-term agreement with KRONE Commercial Vehicle Group to supply the fourth generation Electronic Brake System (EBS) platform for trailers.
- In March 2022, ZF announced that its new Commercial Vehicle Solutions division would introduce its full product and technology portfolio for heavy-duty trucking applications at TMC 2022 in Orlando. ZF's show floor exhibit includes a virtual tour of the company's entire commercial vehicle product line, including chassis technology: air management; suspension solutions; air disc brakes, brake actuators, and vacuum pumps, vehicle dynamics: ADAS, anti-lock braking systems (pneumatic and hydraulic), and steering solutions.
Automotive ABS & Electronic Stability Control Market Leaders
Robert Bosch GmbH
ZF Friedrichshafen AG
*Disclaimer: Major Players sorted in no particular order
Automotive ABS & Electronic Stability Control Market News
- In January 2022, Ineos Styrolution announced the start of ABS production in Wingles, France, having completed the conversion of an existing polystyrene line to the production of ABS. This move makes Wingles the company’s third ABS production site in Europe, together with Antwerp, Belgium, and Cologne, Germany.
- In August 2021, Bosch planned to start production of a motorcycle anti-lock braking system (ABS) at its Amata plant in Rayong, Thailand, in Q2/2022 to meet the increasing demand for safety systems in the Asian market. Following Japan and India, the Amata plant will be Bosch’s third manufacturing site for motorcycle ABS worldwide.
- In October 2021, Endurance Technologies announced that it had commenced the production of anti-lock braking systems (ABS) modulators from one of its manufacturing plants at Waluj, Aurangabad.
Automotive ABS & Electronic Stability Control Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Vehicle Type
5.1.2 Passenger Cars
5.1.3 Commercial Vehicles
5.2.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.2.4 Rest of the World
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Continental Reifen Deutschland GmbH
6.2.2 Delphi Technologies PLC
6.2.3 DENSO Corporation
6.2.4 Autoliv Inc.
6.2.5 ZF Friedrichshafen AG
6.2.6 Robert Bosch GmbH
6.2.7 Haldex AB
6.2.8 WABCO Holdings Inc.
6.2.9 Hyundai Mobis Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Automotive ABS & Electronic Stability Control Market Research FAQs
What is the study period of this market?
The Automotive Anti-lock Braking System Market is studied from 2018 - 2028.
What is the growth rate of Automotive Anti-lock Braking System Market?
The Automotive Anti-lock Braking System Market is growing at a CAGR of >9% over the next 5 years.
What is Automotive Anti-lock Braking System Market size in 2018?
The Automotive Anti-lock Braking System Market is valued at 49 Billion USD in 2018.
What is Automotive Anti-lock Braking System Market size in 2028?
The Automotive Anti-lock Braking System Market is valued at 88 Billion USD in 2028.
Which region has highest growth rate in Automotive Anti-lock Braking System Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Automotive Anti-lock Braking System Market?
North America holds highest share in 2021.
Who are the key players in Automotive Anti-lock Braking System Market?
Autoliv Inc., Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Continental AG are the major companies operating in Automotive Anti-lock Braking System Market.
Automotive Anti Lock Braking System and Electronic Stability Control Industry Report
Statistics for the 2023 Automotive Anti Lock Braking System And Electronic Stability Control market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Anti Lock Braking System And Electronic Stability Control analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.