Market Trends of Two-wheeler Anti-lock Braking System Industry
This section covers the major market trends shaping the Two Wheeler Anti Lock Braking System Market according to our research experts:
Government Regulations Driving the Adoption of ABS in the 2-wheeler.
In Europe, The European Union parliament mandated anti-lock braking systems as the standard equipment in motorcycles built from 2016. Europe is one of the first regions that has made the ABS compulsory and also holds a significant share in the global 2-wheeler market. For instance, according to the European Association of Motorcycle Manufacturers (ACEM) total of 1,079,524 motorcycles were registered in 2019 in the EU which is increased by 8% compared to 2018. The largest motorcycle markets in Europe are Italy 231,712 units, France 197,470 units, and Spain 177,037 motorcycles.
The increasing safety standards in the automotive industry, globally, are driving the countries to follow the developed regions, where all new two-wheelers are sold with ABS as a standard feature. For instance, Japan's Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) constructed amendments in the safety standards for road transport in 2015 but it came into effect in 2018. In the new law, the requirement for all new motorcycles of more than 125cc is to be equipped with Anti-lock Braking Systems (ABS) as a standard. Whereas, two-wheelers below 125cc must come with either ABS or CBS. However, the dirt bikes are exempted from the law.
Asia-Pacific is projected to witness the highest growth in 2-wheeler ABS Market
Asia Pacific 2-wheeler ABS market is anticipated to grow at a rapid rate over the forecast period. China, India, and Japan are the major economies in the regional market that are anticipated to influence the global market. The region has the top five countries which are the largest market for two-wheelers. In 2019 India which is one of the largest 2-wheeler markets has seen a 7.9% increase of 2 wheelers sale from 20.2 million units in 2018 to 21.18 million units in 2019.
Local governments are making ABS compulsory by passing various laws. For instance, in India from April 2019, all four and two-wheelers manufactured in the country will have to be compulsorily equipped with an Anti-Lock Braking System. As per the norms, all new two-wheelers with an engine displacement over 125cc will have to be equipped with ABS while models with an engine displacement of less than 125cc will have compulsory fitment of the combi-braking system (CBS).
In 2019, the Taiwan government has announced that they will subsidize the installation or purchase of a new scooter or motorcycle with an anti-lock braking system (ABS), in which the government will contribute US$ 130 to equip or buy a vehicle with ABS. This subsidy will be available for two years starting from 2019, and only for scooters and motorcycles with less than 125cc engine capacity.
