Europe and North America will Remain Most Lucrative Markets for Automotive ABS and ESC
A recent research report delivered by Future Market Insights (FMI) has projected the global market for automotive ABS and ESC to exhibit an undulating expansion over the forecast period, 2017 to 2022. Global sales of automotive ABS and ESC has been estimated to surpass US$ 100,000 Mn in revenues by 2022-end.
Automotive Abs And Esc Market
The report encompasses important factors fuelling expansion of the market, trends and deve...
The automotive industry is currently being propelled by hi-tech innovation, being more inclined toward adoption of advanced technologies for reducing crashes and mitigating impact of accidents on passengers. Automotive safety systems, such as ABS and ESC, are therefore gaining immense traction among consumers across the globe. Leading manufacturers of ABS and ESC systems are adopting strategic approaches such as mergers & acquisitions and new product launches, with an aim of expanding their product line and maintaining their instrumental position in the market.
Europe and North America – Most Lucrative Markets for Automotive ABS and ESC
In regions such as Europe and North America, automotive ABS and ESC systems have a high penetration rate and are well established. In terms of revenues, Europe and North America will continue to be the most lucrative market for automotive ABS and ESC. The market in North America is projected to register the highest CAGR through 2022.
Asia-Pacific excluding Japan (APEJ) is also expected to be a major lucrative market for automotive ABS and ESC, with revenues estimated to exceed US$ 25,000 Mn in revenues by 2022-end. Growth of the automotive ABS and ESC market in APEJ can be highly attributed to increasing consumer preferences for better safety systems in vehicles, along with the introduction of legislation & policy framework that mandates integration of safety equipment in vehicles.
OEMs to Account for Over 90% Revenue Share of Global Automotive ABS and ESC Market during 2017 to 2022
Automotive braking systems with improved vehicle safety and requirement of minimum maintenance, such as the ABS and ESC, introduced by OEMs have created the breakthrough developments in the market. OEMs will account for over 90% revenue share of the automotive ABS and ESC market during 2017 to 2022.
Whether in light of outlaw status of ABS and ESC, or street market liability concerns in most of the vehicles, aftermarket has failed so far in developing even a basic ABS or ESC system. However, sales of ABS and ESC systems in aftermarket are projected to register an above-average expansion through 2022, although estimated to account for a very low revenue share of the market over the forecast period.
Compact Vehicles to Account for Nearly One-Third Market Revenue Share throughout the Forecast Period
Sales of automotive ABS and ESC are forecast to register the fastest expansion in compact vehicles, followed by light commercial vehicles and heavy commercial vehicles. Nearly one third revenue share of the market is projected to be accounted by automotive ABS and ESC sales in compact vehicles throughout the forecast period. In addition, sales of automotive ABS and ESC in mid-sized vehicles are also projected to record a robust expansion through 2022.
ESC technology in the global automotive ABS and ESC market will remain preferred among consumers. Revenues from sales of ESC technology in vehicles are forecast to account for nearly one-fourth share of the market in 2017. Demand for ESC technology will further witness an upsurge over the forecast period. The largest revenue share of the market has been anticipated to be accounted by three channel ABS technology, with sales poised to expand at approximately 10% CAGR through 2022. Sales of four channel ABS technology will continue to witness a relatively slower expansion than three channel ABS and ESC technology segments through 2022.
For more information on the global automotive ABS and ESC market, write in to Future Market Insights analysts at [email protected]
About the Automotive Division of FMI
The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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