Automotive Anti Lock Braking System And Electronic Stability Control Market Size

Automotive Anti-lock Braking System Market Analysis

The Automotive Anti Lock Braking System And Electronic Stability Control Market size is estimated at USD 60.97 billion in 2024, and is expected to reach USD 91.51 billion by 2029, growing at a CAGR of 8.46% during the forecast period (2024-2029).

In 2022, some 85 million motor vehicles were produced worldwide. In 2022, China emerged as the global leader in passenger car production, manufacturing approximately 23.84 million vehicles alongside 3.19 million commercial vehicles, solidifying its position as the foremost producer of passenger cars worldwide.

Over the long term, the increasing acceptance of ABS systems is the growing 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 automotive anti-lock brake system market is expected to show a high growth rate as these systems are starting to be used extensively in entry-level two-wheelers. Most two-wheelers in the developed markets are high-end vehicles with safety features similar to the standard. However, 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 automotive anti-lock braking system market. During the forecast period, Japan, India, and China are the major automotive manufacturing hubs.