PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454129
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454129
Automotive Anti-Lock Braking system Market size was valued at USD 46,290.76 Million in 2023, expanding at a CAGR of 8.10% from 2024 to 2032.
An Anti-lock Braking System (ABS) installed in vehicles is designed to avoid wheel lock-up when braking suddenly or forcefully. In the absence of ABS, wheels can cease rotating abruptly, leading to sliding during emergency braking. The primary function of ABS, also known as an Anti-skid braking system, is to maintain traction by adjusting brake pressure to prevent skidding while braking heavily. ABS aims to prevent skidding, which can cause loss of control and steering due to locked wheels during intense braking. These systems are now standard in numerous new vehicles, with the goal of enhancing steering capabilities during emergencies rather than reducing stopping distances.
Automotive Anti-Lock Braking system Market- Market Dynamics
Growing demand for safety features in the vehicles by consumers is projected to drive the market
With the rise in awareness of road safety among consumers, there is an increasing desire for vehicles that are equipped with advanced safety technologies such as ABS. ABS plays a crucial role in accident prevention by minimizing the chances of skidding and ensuring control is maintained during sudden braking situations. Studies indicate that the implementation of advanced safety features in cars could potentially decrease the likelihood of a severe collision by 49% and reduce the risk of injuries by 53%. Car safety landscapes can be categorized as either passive or active, as per data from Kelley Blue Book. Moreover, continuous improvements in ABS technology could present growth opportunities for the market. Nevertheless, the complexity and maintenance demands associated with these technologies might impede market expansion.
Automotive Anti-Lock Braking system Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.10% over the forecast period (2024-2032)
Based on Sub-System Type segmentation, Electric Control Unit (ECU) was predicted to show maximum market share in the year 2023
Based on Vehicle Type segmentation, Passenger Vehicles was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Automotive Anti-Lock Braking system Market is segmented on the basis of Sub-System Type, Vehicle Type, End-User, and Region.
The market is segmented into three categories according to Sub-System Type: Sensors, Electric Control Unit (ECU), and Hydraulic Unit. The Electric Control Unit (ECU) segment holds the largest market share. Serving as the ABS system's central processing unit, the ECU collects data from the wheel speed sensors and analyzes it to identify potential wheel lock-ups. Upon detection, it transmits instructions to the hydraulic control unit to regulate the braking pressure as needed.
The market is categorized into three segments according to the vehicle Type: Two-Wheelers, Commercial Vehicles, and Passenger Vehicles. The dominant segment in the market is Passenger Vehicles. The demand for ABS in passenger vehicles has been consistently rising due to the increasing awareness among consumers about vehicle safety and the implementation of strict safety regulations by governments worldwide.
The market is segmented into two distinct categories, namely OEM and Aftermarket ABS, based on the end-user. With the continuous progress in technology and the implementation of stricter safety regulations, the market is expected to experience consistent growth. This growth presents favorable prospects for both OEMs and aftermarket suppliers.
Automotive Anti-Lock Braking system Market- Geographical Insights
This market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be driven by the Asia Pacific region, primarily due to the increasing production and sales of vehicles. Many countries in this region have implemented regulations that require the inclusion of ABS in new vehicles to enhance road safety. Compliance with these regulations further promotes the adoption of ABS in the region. According to Automotive Production Data, China's vehicle production and sales volumes have increased by 51.2% and 47.9% year-on-year in January 2024. In the forecast period, North America and Europe are also expected to drive market growth, mainly due to the growing automotive industry in these regions.
As the electric and autonomous vehicle market continues to grow, the ABS market is seeing an influx of new players who are focusing on developing specialized ABS solutions for these emerging vehicle technologies. These companies are dedicated to improving ABS performance, reliability, and cost-effectiveness in order to gain a competitive advantage. In addition, building strong distribution networks, providing exceptional customer support, and offering comprehensive aftermarket solutions are essential for achieving success in this competitive landscape. For instance, WABCO Aftermarket Programming is a procedure that enables users to efficiently program WABCO truck ABS Electronic Control Units using the OEM's configuration file. This process significantly reduces inventory and downtime, as it only takes a few hours compared to the time it would take to order a fully programmed ECU.
Continental has commenced the provision of a new iteration of electronic brake systems, known as the MK 120 ESC, to Changan, a Chinese automobile manufacturer. This development signifies the global debut of the MK 120 ESC in series production. Changan has chosen to equip its latest models, the Oshan X5 Plus and Uni-T, which are available in the Chinese market, with this advanced brake system.
On May 17, 2023, Continental, a technology company based in Germany, announced its partnership with Changan, a Chinese car manufacturer. Continental will be supplying Changan with their latest electronic brake systems, known as the MK 120 ESC, for their new generation of vehicles. This collaboration marks a significant milestone as it is the first time the MK 120 ESC will be used in series production on a global scale. Changan will be incorporating this advanced brake system into their latest models, including the Oshan X5 Plus and Uni-T, which will be available in the Chinese market.
GLOBAL AUTOMOTIVE ANTI-LOCK BRAKING SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Robert Bosch GmbH (Germany)
Continental AG (Germany)
Autoliv Inc. (Sweden)
Nissin Kogyo Co., Ltd. (Japan)
WABCO Vehicle Control Systems (Belgium)
TRW Automotive (U.S.)
Hyundai Mobis (South Korea)
Hitachi Automotive Systems, Ltd. (Japan)
Advics Co., Ltd. (Japan)
Denso Corporation (Japan)
Others