Global Commercial Vehicle Anti-lock Braking System Market 2016-2020
About Commercial Vehicle Anti-Lock Braking System
While driving a vehicle, braking is a mandatory operation that is needed to control the vehicle. There are different road-side driving conditions such as off-highway conditions, city traffic among others that have led to the evolution of the different automotive braking systems. This has led to the development of anti-lock braking systems, autonomous braking systems, and advanced emergency braking systems among others. The ABS plays a crucial role in preventing skidding and locking of tires when the brakes are pressed. In an ABS equipped commercial vehicle, the sensor technology enables sensing of the wheel lock-up and sends corrective actions to enable the driver to establish control of the vehicle.
Technavio’s analysts forecast the global commercial vehicle anti-lock braking system market to grow at a CAGR of 6.24% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicle anti-lock braking system market for 2016-2020. To calculate the market size, the report considers the ABS deployed in the commercial vehicles (LCVs and HCVs). The annual production numbers of commercial vehicles are also considered in the report.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Vehicle Anti-Lock Braking System Market 2016-2020
Technavio recognizes the following companies as the key players in the global commercial vehicle anti-lock braking system market: Continental, Bosch, Delphi, Wabco, and ZF-TRW.
Other Prominent Vendors in the market are: Meritor Wabco, Valeo, ZF, Denso, Magna International, Ficosa International, Mando, Autoliv, Bendix, Renesas, Haldex, Jiaozuo Brake, Nissin Brake Ohio, Knorr-Bremse, Tata AutoComp, and Sundaram Clayton.
Commenting on the report, an analyst from Technavio’s team said: “Emergence of new businesses and opportunities for other vertical markets and market adjacencies will gain traction in this market. As the safety systems penetration in commercial vehicle increases, Technavio believes that this will pave the way for adjacent market opportunities.”
According to the report, need for making safer vehicles to curb road accidents will drive growth in the market. It is estimated that 90% of the fatalities in accidents occur in low and middle-income countries through these countries account for only half of the world's vehicle population. Further, it is also estimated that road traffic accidents are likely to become the seventh leading cause of death by 2030 with the road traffic crashes costing countries approximately 3%-5% of their gross national product.
Further, the report states that though developing regions like India have just recently declared a mandate for ABS fitment in commercial vehicles, there are several countries in APAC and in other developing regions such as the Latin America where the regulatory mandates have lagged. These mandates are meant for the commercial vehicle category and require the vehicles to have a minimum level of safety systems equipped with them.
Continental, Bosch, Delphi, Wabco, ZF-TRW, Meritor Wabco, Valeo, ZF, Denso, Magna International, Ficosa International, Mando, Autoliv, Bendix, Renesas, Haldex, Jiaozuo Brake, Nissin Brake Ohio, Knorr-Bremse, Tata AutoComp, Sundaram Clayton.