Market Definition: Automotive Anti-Lock Braking System Market
Global Automotive Anti-Lock Braking System Market is expected to rise from its initial estimated value of USD 54.80 billion in 2018 to an estimated value of USD 78.23 billion by 2026, registering a CAGR of 4.55% in the forecast period of 2019-2026.
Anti-lock braking system offers the driver safe braking mechanisms and help in steering and handling of the vehicle. These systems prevent the vehicles from slipping even on wet surfaces, and offer plenty of benefits such as reduced braking time and distance as well as reduction of tier wear and tear.
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Key Market Competitors: Automotive Anti-Lock Braking System Market
Few of the major competitors are Robert Bosch GmbH, Continental AG, Autoliv Inc., ZF Friedrichshafen AG, Aptiv, BorgWarner Inc., WABCO, DENSO CORPORATION, HYUNDAI MOBIS, Nissin Kogyo Co. Ltd., Hitachi Automotive Systems Ltd., ADVICS CO.LTD., Mando Corp., AISIN SEIKI Co. Ltd., AKEBONO BRAKE INDUSTRY CO. LTD., Brembo, Federal-Mogul LLC, Knorr-Bremse.
The report gives the details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. Under competitive analysis section, major key players existing in the market are mentioned along with various details such as company profiles, their market share analysis, and their different strategies which make them thrive in the market.
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Major Market Drivers & Restraints are as follows:
- Increasing adoption of anti-lock braking systems in two wheelers will drive the market growth high significantly
- Increase in global vehicle sales has directly affected the market of Automotive Anti-Lock Braking System as the authorities have regulated the inclusions of these systems in the vehicles as compulsory
- High cost of maintenance and change in cost of raw materials will be one of the factors for restricted market growth
- Presence of counterfeit parts and their low cost as compared to genuine manufacturers part is expected to restrict the market growth
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Market Segmentation: Automotive Anti-Lock Braking System Market
- By Sub-Systems:
- Electronic Control Unit
- Hydraulic Unit
- By Vehicle Type
- Commercial Vehicles
- Passenger Vehicles
- North America:
- South America:
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
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Global Automotive Anti-Lock Braking System Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Automotive Anti-Lock Braking System Market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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