Market Research Report
Automotive Anti-lock Braking System Market - Growth, Trends, and Forecast (2020 - 2025)
|Automotive Anti-lock Braking System Market - Growth, Trends, and Forecast (2020 - 2025)|
Published: February 1, 2020
Mordor Intelligence Pvt Ltd
Content info: 60 Pages
Delivery time: 2-3 business days
The automotive anti-lock braking system market is expected to register a CAGR of over 7.5%, during the forecast period (2020 - 2025).
Government Regulations Driving the Adoption of ABS in Passenger Cars
The increasing safety standards in the automotive industry, globally, are driving the countries in the developing regions to follow the developed regions, where all new passenger cars are sold with ABS as a standard feature.
Government Regulations Across the World Driving the ABS Market
The increasing rate of accidents and the continuous efforts of governments, across the world, in reducing the number of accidents is a major driver for the anti-lock braking systems market.
Asia-Pacific is one of the fastest-growing market, globally. The increasing demand for anti-lock braking system (ABS) in the region is supported by the increase in road safety rules set by the government, which makes sure that all new vehicles are equipped with ABS. For instance,
The National Transportation Safety Board (NTSB) is working towards promoting the anti-lock brakes in the manufacturing process of motorcycles in the United States. The NTSB does not have the right to create laws, so it is aiming to persuade the NHTSA, an organization responsible for introducing and enforcing road safety rules. The Insurance Institute for Highway Safety found that motorcycles furnished with anti-lock brakes have a 31% lower crash rate than bikes without the feature.
The European Union parliament mandated anti-lock braking systems as the standard equipment in motorcycles built from 2016. The Insurance Institute of Highway Safety reported that 8.9% of registered motorcycles were required to have anti-lock brake systems in 2017. This number increased steadily since 2002, when anti-lock brake technology was considered a standard form of equipment on only 0.2% of motorcycles.
The market for anti-lock brake system (ABS) is anticipated to grow, over the forecast period, as the developed and developing countries are making anti-lock braking system (ABS) mandatory in the four-wheeler, and two-wheeler for reducing the number of causalities and also ABS makes vehicle technologically more strong.
The automotive anti-lock braking system market is dominated by major players, such as Robert Bosch GmbH, Autoliv Inc., Continental Reifen Deutschland GmbH, DENSO Corporation, and ZF Friedrichshafen AG, among others. The companies are strategically investing, making acquisitions, and entering into partnerships in key technologies. Also, almost all the passenger vehicles are equipped with the anti-lock braking system, which is majorly driving the market growth.