Anti-Lock Braking System (ABS) Market Worth $65.5 billion by 2027

Market Statistics:

According to IMARC Group latest published report, titled “Anti-Lock Braking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” that the global anti-lock braking system (ABS) market size reached US$ 39.8 Billion in 2021. Looking forward, the market expected to reach US$ 65.5 Billion by 2027, exhibiting a growth rate (CAGR) of 8.57% during 2022-2027.

What are ABS (brakes) Braking System

An anti-lock braking system, or ABS, is advanced safety equipment that is a part of the active braking system used in automobiles. It helps to prevent the wheels of a vehicle from locking up under emergency, panic, or harsh braking conditions, and enable it to maintain dynamic contact with the road surface.

Covid-19 Scenario:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Anti-Lock Braking System Market Trends

ABS improves stability and traction control of the vehicle while significantly reducing the risks of skidding, especially in slippery conditions. This provides high-end safety features to the consumers at an affordable price, which, in turn, is escalating the demand for ABS. Along with this, the rising number of road accidents has compelled the governments of various countries to implement mandatory standards for people to equip their vehicles with an ABS to improve stability, control, and safety aspects of the car. The growing awareness about the benefits of ABS, several technological advancements in the automotive industry, and increasing consumer safety concerns are some of the other factors that are expected to bolster the growth of the market in the coming years.

Competitive Scenario with Key Players:

The competitive landscape of the market has also been analyzed, with some of the key players being

• • Advics Co. Ltd.,
  • AISIN SEIKI CO (ASEKF),
  • DENSO CORP (DNZOY),
  • HITACHI (HTHIY),
  • MANDO (204320.KS),
  • Robert Bosch GmbH,
  • Wabco Ltd, etc.

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The report cover the below key market segments:

Breakup by Component Type:

• Speed Sensors
• Electronic Control Units (ECU)
• Hydraulic Units

Breakup by Vehicle Type:

• Two Wheelers
• Passenger Cars
• Commercial Vehicles

Breakup by End-Use:

• OEM
• Replacement Demand

Breakup by Region Segment:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

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