Anti-Lock Braking System (ABS) Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Anti-Lock Braking System (ABS) market was valued at USD 54.1 billion in 2023 with projections indicating a CAGR of over 6% from 2024 to 2032, driven by mandates for new vehicles. Recognizing ABS's pivotal role in road safety, governments worldwide have made it a standard feature, preventing wheel lock-up and ensuring vehicular control during emergencies.

For example, the National Highway Traffic Safety Administration (NHTSA) in the U.S. mandated ABS for all new heavy vehicles, leading to a notable drop in accident rates. However, in April 2024, safety concerns arose when the 2023 Cadillac LYRIQ was investigated for brake system failures, including hard brake pedals and a loss of brake boost. Echoing these sentiments, the European Union and nations like India have implemented strict regulations, making ABS mandatory in diverse vehicle categories, from passenger cars to commercial vehicles.

Technological advancements, regulatory mandates, and shifting consumer preferences are shaping the industry growth. A prominent trend is the growing integration of ABS with advanced safety systems like electronic stability control (ESC), traction control systems (TCS), and electronic brake force distribution (EBD). Such integrations not only bolster vehicle safety and performance but also cater to the rising consumer demand for holistic safety solutions.

The overall industry is divided into vehicle, component, technology, sales channel, and region.

The market segments vehicles into two-wheelers, passenger cars, and commercial vehicles. The passenger cars dominated, holding over 56% share in 2023. Within passenger cars, ABS plays a crucial role in enhancing driving stability by preventing wheel lock-up during braking. Key components of this system include sensors, an electronic control unit (ECU), and a hydraulic unit. Wheel-installed sensors monitor speed while detecting potential lock-up signs. The ECU processes this data, making real-time adjustments to braking pressure via the hydraulic unit to prevent skidding.

The market categorizes ABS technology into conventional ABS, electronic stability control (ESC), and electronic brake-force distribution (EBD). The conventional ABS segment held a 52% share in 2023. This technology, pivotal for vehicle safety, prevents wheel lock-up during emergencies. Key components include wheel speed sensors, an ECU, and a hydraulic modulator, with sensors at each wheel providing real-time data to the ECU.

The Asia-Pacific region claimed about 35% of the ABS market share in 2023. This dominance is fueled by strong economic growth, rising vehicle production, and an emphasis on vehicle safety. China, the globe's largest automobile market, spearheads ABS adoption, thanks to stringent safety regulations and proactive government initiatives. Meanwhile, Japan's focus on advanced safety features and India's increasing consumer awareness and regulatory push will further amplify ABS integration.

Product Code: 10629

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Vehicle manufacturers
- 3.2.2 OEMs
- 3.2.3 Aftermarket suppliers
- 3.2.4 Automotive service providers
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
- 3.6.1 Partnership/Collaboration
- 3.6.2 Merger/Acquisition
- 3.6.3 Investment
- 3.6.4 Product launch and innovation
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Mandatory ABS regulations for new vehicles
  - 3.8.1.2 Integration with Advanced Driver Assistance Systems (ADAS)
  - 3.8.1.3 Rising awareness of vehicle safety benefits
  - 3.8.1.4 Increased adoption of electric and hybrid vehicles
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High initial cost of ABS integration
  - 3.8.2.2 Complex maintenance and repair requirements
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Vehicle, 2021-2032 ($Bn, Units)

5.1 Key trends
5.2 Two-wheeler
- 5.2.1 Sensors
- 5.2.2 Electronic Control Unit (ECU)
- 5.2.3 Hydraulic unit
5.3 Passenger cars
- 5.3.1 Sensors
- 5.3.2 Electronic Control Unit (ECU)
- 5.3.3 Hydraulic unit
5.4 Commercial vehicle
- 5.4.1 Sensors
- 5.4.2 Electronic Control Unit (ECU)
- 5.4.3 Hydraulic unit

Chapter 6 Market Estimates and Forecast, By Component, 2021-2032 ($Bn, Units)

6.1 Key trends
6.2 Sensors
6.3 Electronic Control Unit (ECU)
6.4 Hydraulic unit

Chapter 7 Market Estimates and Forecast, By Technology, 2021-2032 ($Bn, Units)

7.1 Key trends
7.2 Conventional ABS
7.3 Electronic Stability Control (ESC)
7.4 Electronic Brake-Force Distribution (EBD)

Chapter 8 Market Estimates and Forecast, By Sales Channel, 2021-2032 ($Bn, Units)

8.1 Key trends
8.2 OEM
8.3 Aftermarket

Chapter 9 Market Estimates and Forecast, By Region, 2021-2032 ($Bn, Units)

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 ANZ
- 9.4.5 South Korea
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Advics Co., Ltd.
10.2 Aisin Seiki Co., Ltd.
10.3 Autoliv Inc.
10.4 Brembo S.p.A.
10.5 Continental AG
10.6 Delphi Technologies
10.7 Denso Corporation
10.8 Haldex AB
10.9 Hella KGaA Hueck and Co.
10.10 Hitachi Automotive Systems, Ltd.
10.11 Hyundai Mobis
10.12 Knorr-Bremse AG
10.13 Magna International Inc.
10.14 Mando Corporation
10.15 Mitsubishi Electric Corporation
10.16 Nissin Kogyo Co., Ltd.
10.17 Robert Bosch GmbH
10.18 TRW Automotive
10.19 WABCO Holdings Inc.
10.20 ZF Friedrichshafen AG