Market Size of Europe Automotive Anti-Lock Braking System Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 20.35 Billion |
| Market Size (2029) | USD 27.62 Billion |
| CAGR (2024 - 2029) | 6.30 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Automotive Anti-Lock Braking System Market Analysis
The Europe Automotive Anti-Lock Braking System Market size is estimated at USD 20.35 billion in 2024, and is expected to reach USD 27.62 billion by 2029, growing at a CAGR of 6.30% during the forecast period (2024-2029).
- COVID-19 had a severe impact on the market due to the indirect consequence of low automotive production and sales registered in 2020 due to the pandemic. 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, Growing production of vehicles with integrated safety features in the wake of rising awareness toward the comfort and safety of passengers and government regulations mandating safety features are expected to drive demand in the market. Moreover, the rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market.
- Nowadays, an anti-lock braking system (ABS) is used in every modern car. It automatically provides optimum braking force short of lockup. The computers modulate the brake pressure to ensure that all wheels maintain traction, allowing them to brake and steer simultaneously.
- Europe is known for its swift and stringent adaption toward road safety. Countries such as Germany and the United Kingdom have mandated entry-level vehicles to install ABS systems just as important as seatbelts seen today in every car.
- However, ABS in 2-wheelers, especially in cost-conscious markets, sometimes offer options for a single channel, with only a front wheel equipped with an ABS. Additionally, entry-level cars are not provided by ABS with a higher safety system. However, with emerging technologies and growing government policies, entry-level and 2- wheelers may see higher adoption of ABS systems since results have shown that even a lower ABS-equipped system may increase braking distances.
