Automotive Anti-lock Braking System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Automotive Anti-lock Braking System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The automotive anti-lock braking system market is expected to register a CAGR of over 7.5% during the forecast period (2020 - 2025).

Key Highlights

• The key factors for the increasing acceptance of ABS systems are the increasing focus on safety and the potential reduction in road-accident related deaths. Nearly 3,300 people die every day due to road crashes, and about 9/10th of the total casualties occur in the middle and low-income countries that have less than half of the world’s total vehicles.
• The ABS market is expected to show a high rate of growth, as these systems are starting to be used extensively in entry-level two-wheelers. Most of the two-wheelers in the developed markets are high-end vehicles that have similar safety features as standard. But in the emerging markets, two-wheelers are entry-level vehicles and are the cheapest.
• Increased adoption of such safety systems in passenger vehicles is expected to boost the market during the forecast period. Emerging countries, such as Germany, Spain, and the United States, are planning to develop legislation to make ABS mandatory on heavy commercial vehicles, which is expected to drive the market.

Key Market TrendsGovernment Regulations are Driving the Adoption of ABS in Passenger Cars

The increasing safety standards in the automotive industry, globally, are driving the developing countries to follow the developed countries, where all new passenger cars are sold with ABS as a standard feature.

• In Europe, all new passenger cars have to be equipped with ABS, since 2004.
• The United States took nearly a decade to mandate ABS in all new passenger cars. As of September 2013, the National Highway Traffic Safety Administration (NHTSA) mandated ABS in conjunction with Electronic Stability Control (ESC), under the provisions of the March 2007 Federal Motor Vehicle Safety Standard (FMVSS) No. 126.
• In 2017, the Ministry of Road Transport and Highways (MoRTH) in India released a notification, where ABS is mandatory for all new passenger cars from April 2019.
• In 2018, nearly more than 70% of the passenger car sold had been equipped with ABS, owing to the mandatory ABS rule in countries like Japan and Brazil.
• ABS in passenger cars are likely to increase, due to the increasing passenger car sales, majorly in Asia-Pacific and Europe during the forecast period.

Government Regulations Across the World are 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 markets globally. The increasing demand for the anti-lock braking system (ABS) in the region is supported by the increase in road safety rules, which makes sure that all new vehicles are equipped with ABS. 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. According to the Road Transport Ministry, all new vehicles will have to comply with the norms from April 2018 onward. Similarly, all new vehicles of the existing models will have to install the ABS from April 2019 onwards. Moreover, ABS will be mandatory for two-wheelers with more than 125cc engine.
• In 2013, the government of Australia made Anti-lock Braking Systems (ABS) mandatory for all-new trucks.

The National Transportation Safety Board (NTSB) is 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 anti-lock brake system (ABS) market is anticipated to grow during the forecast period. As developed and developing countries are making the anti-lock braking system (ABS) mandatory in four-wheelers and two-wheelers for reducing the number of causalities.

Competitive Landscape

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. 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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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