Market Trends of Automotive Anti Lock Braking System and Electronic Stability Control Industry
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.
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.
