Market Research Report
Global Anti-Lock Braking System Market Size study, by Type (Brake Disc, Brake Pad, Brake Shoe, Brake Liner, Drum Brake), by Application (Passenger Vehicles, Commercial Vehicles) and Regional Forecasts 2019-2026
|Published by||Bizwit Research & Consulting LLP||Product code||917258|
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|Global Anti-Lock Braking System Market Size study, by Type (Brake Disc, Brake Pad, Brake Shoe, Brake Liner, Drum Brake), by Application (Passenger Vehicles, Commercial Vehicles) and Regional Forecasts 2019-2026|
|Published: November 18, 2019||Content info:||
Global Anti-Lock Braking System Market is valued approximately at USD 31.34 billion in 2018 and is anticipated to grow with a growth rate of more than 8.50% over the forecast period 2019-2026. Anti-Lock Braking System (NDT) is an advanced active braking system used in automobiles that helps drivers to control their vehicle effectively. They are usually used to assist automotive for safe breaking and easy steering in conditions of slippery or wet roads. Anti-lock braking system in vehicles offers various benefits such as reduced braking distance, stable braking attributes on all road surfaces and improves traction control. Rise in number of passenger & commercial vehicles coupled with increasing rate of road accidents worldwide is the major factor responsible for high CAGR of the market over the forecast period. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA), the global production of commercial vehicles was nearly 25.1 billion in 2018, represent an increase from 23.8 billion in 2017. Also, the annual number of road traffic deaths has continued to increase, reaching a high of 1.35 million in 2016, as per the report "Global Status Report On Road Safety 2018" released by World Health Organization (WHO). Moreover, governmental efforts to reduce number of road accidents is the major factor that offers lucrative growth opportunity to the market. For instance, The Indian government has made it mandatory for all cars and mini-buses to install anti-lock braking system (ABS) by April 2019. However, high maintenance and installation cost along with volatile prices of raw material are few factors anticipated to hinder the growth of global Anti-Lock Braking System market during the forecast period.
The regional analysis of global Anti-Lock Braking System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region in terms of revenue and market share owing to rise in adoption of safety features such as anti-lock breaking system along with rise in number of road accidents in the region. However, Asia-Pacific is also expected to exhibit at high growth rate / CAGR over the forecast period of 2019-2026 owing to favorable laws & regulation enforced by government associated with vehicle safety across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: