Global Automotive ABS Parts Market Size By Product, By Application, By Geographic Scope And Forecast

Automotive ABS Parts Market Size And Forecast

Automotive ABS Parts Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

Increase in demand for safety features driving the Automotive ABS Parts Market growth. Technological advancements in the automotive industry, and an increase in government mandates for vehicle safety fuel the growth of the Automotive ABS Parts Market. The Global Automotive ABS Parts Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive ABS Parts Market Definition

ABS (Anti-lock braking system) is a braking system that prevents the vehicle's wheels from locking up completely during sharp braking. The ABS is a sophisticated active braking system that aids drivers in keeping control of their vehicles. It permits a vehicle's wheels to maintain dynamic contact with the road surface that is proportional to the driver's braking inputs. On both dry and slippery surfaces, it improves vehicle control and minimizes the risk of a collision. Automobile manufacturers have equipped their vehicles with advanced safety systems such as anti-lock braking, traction control, electronic brake-force distribution (EBD), and electronic stability control (ESC) to improve stability, control, and safety over difficult terrains.

Nearly 1.3 million people die every year in road crashes, according to the Annual Global Road Crash Statistics, necessitating the inclusion of automobile safety and control systems such as ABS in automobiles. Advantages of ABS installation include a short brake path, better grip with the road surface, steerability of a vehicle at the braking moment, and higher wear-resistance of tires. Wheel speed sensors, hydraulic valves, a pump, and an ABS controller, often known as an ABS Module or ABS ECU, are the four major components of an ABS system. The electronic control unit (ECU) is the brain of the Anti-lock braking system and uses data from the sensors to determine whether or not to pump the brakes

Global Automotive ABS Parts Market Overview

Increase in demand for safety features driving the Automotive ABS Parts Market growth. Safety features such as ABS, traction control, electronic stability control, tire pressure monitors, airbags, and telematics are in high demand due to an increase in the number of road accidents around the world. As a result, as people's concerns about these conditions increase, so does the demand for safety features in vehicles. As a result, manufacturers are focusing their efforts on developing safety features for incorporation in automobiles, propelling the Automotive ABS Parts Market forward. Technological advancements in the automotive industry, and an increase in government mandates for vehicle safety fuel the growth of the Automotive ABS Parts Market.

Owing to an increase in the number of road accidents, governments all over the world have enacted regulations requiring car manufacturers to add safety features. Vehicle laws and regulations are being enforced in countries such as India and France to ensure that safety systems like ABS and ESC are fitted in vehicles within a certain time frame. The installation of safety features such as automatic braking and advanced driving technologies in automobiles operating in India, for instance, is regulated by the Indian government. However, high maintenance and installation cost is expected to restrain the Automotive ABS Parts Market growth.

The high maintenance costs of anti-lock braking system components are a stumbling block to the market's expansion. The average cost of ABS maintenance and installation, including labor for commercial vehicles, is $2000. The high maintenance and installation costs of ABS parts may act as a restraining factor to the Automotive ABS Parts Market's growth. Furthermore, the development of an advanced braking system for two-wheelers along with the expansion in the untapped market of developing countries is expected to provide lucrative opportunities for the Automotive ABS Parts Market players during the forecast period.

Global Automotive ABS Parts Market: Segmentation Analysis

The Global Automotive ABS Parts Market is Segmented on the basis of Product, Application, And Geography.

Automotive ABS Parts Market, By Product

• ABS Motor
• ABS Control Module
• ABS ECU
• ABS Actuator
• Others

Based on Product, The market is segmented into ABS Motor, ABS Control Module, ABS ECU, ABS Actuator, and Others. The ABS controller, also known as an ABS ECU, receives input signals from all of the wheel speed sensors and analyzes the information to determine if any of the wheels are slipping. The controller will limit the braking force and send the signal to actuate the hydraulic braking valves on and off if a wheel spin is detected and a wheel loses traction.

Automotive ABS Parts Market, By Application

• Passenger Cars
• Commercial Vehicles

Based on Application, The market is segmented into Passenger Cars and Commercial Vehicles. The passenger cars segment is expected to dominate owing to rising passenger car production and sales of passenger cars in countries such as India, China, the United States, and Others.

Automotive ABS Parts Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, The Automotive ABS Parts Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific is expected to dominate the Automotive ABS Parts Market during the forecasted years. This is owing to increasing vehicle production and sales of vehicles in the region.

Key Players

• The "Global Automotive ABS Parts Market" study report will provide a valuable insight with an emphasis on the global market including some of the major players such as
• Toyota Boshoku (Japan), Freudenberg (Germany), Hitachi Automotive Systems (Japan), Hitachi Metals (Japan), Federal-Mogul (USA), NOK (Japan), ADVICS (Japan), Linamar (Canada), HUTCHINSON (France), Dongfeng Electronic Technology Co., Ltd. (DETC) (China), Zhejiang Asia-Pacific Mechanical & Electronic (China), TT Electronics (UK), Suncall (Japan), Fine Sinter (Japan), Owari Precise Products (Japan), AB Elektronik (Germany).

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.