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Global Anti-Lock Braking System and Electronic Stability Control System Market

Market Insights on Global Anti-Lock Braking System and Electronic Stability Control System covering sales outlook, demand forecast & up-to-date key trends

Anti-Lock Braking System and Electronic Stability Control System Market By Type (Anti-Lock Braking System, and Electronic Stability Control System), By Vehicle Type (Two Wheelers, Passenger Vehicle, Commercial Vehicle) & By Region Forecast to 2022-2032

Anti-Lock Braking System and Electronic Stability Control System Market Snapshot

The global Anti-Lock Braking System and Electronic Stability Control Systems market is predicted to reach at US$ 158.4 Bn in 2032. The rising concerns towards the automotive safety systems is raising continuously with increasing public awareness and increasing government regulations to decrease the accidental cases. The rising safety parameters for passenger vehicles has pushed the vehicle manufacturers to upgrade the active safety system of the vehicle and enhance the overall safety ratings of the vehicle, which is driving the demand for ABS and Electronic Stability Control System across the globe.

According to FMI, the Global Anti-Lock Braking System and Electronic Stability Control System Market is anticipated to develop at a CAGR of 6.3% from US$ 85.9 Bn in 2022 to 2032.

Market Size (2021)

US$ 78,029.5 Mn

Market Size 2022E

US$ 85,988.5 Mn

Market Size 2032

US$ 158,406.5 Mn

Value CAGR (2022-2032)

6.3%

ABS is an active safety system that prevents uncontrolled skidding by keeping the wheels from stopping rotating. The primary purpose of an ABS system is to increase vehicle control and shorten stopping distances on slick, dry conditions. The development of electronically controlled front-to-rear braking bias is a result of the increased acceptance of ABS by original equipment manufacturers (OEMs) and customers worldwide.

The application of the ESC system is intended to reduce the loss of steering control. The governments have mandated that all new passenger cars in Europe and the U.S. will be equipped with ESC and ABS systems, which had a favourable effect on the market.

The market for ABS and ESC systems has been significantly impacted by the automotive industry's shift toward autonomous mobility. to improve the vehicle's control and stability when travelling, especially on switchback roads and in the wet season.

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Historic Market Outlook for Global Anti-Lock Braking System and Electronic Stability Control System Market

In the analysis of the market demand for Anti-Lock Braking System and Electronic Stability Control System from 2017 to 2021, a historical growth rate of around 3.5% CAGR was discovered. Recent past innovation of safety features in a vehicle is key trend observed in the automotive sector across the globe, and increasing demand for energy efficient and higher safety rating vehicle has fuelled the demand for Anti-Lock Braking System and Electronic Stability Control Systems during historic period.

Nowadays, Anti-Lock Braking System and Electronic Stability Control Systems is a crucial component of active vehicle safety system, as it not only provide the better braking to the vehicle but also enhances the drivers control over the vehicle by avoiding the understeer and oversteer conditions.

As per the current survey conducted by FMI, the forecast growth outlook for the Anti-Lock Braking System and Electronic Stability Control System is to remain around 6.3% for the period of 2022 and 2032. Adoption rate for Anti-Lock Braking System and Electronic Stability Control System is expected to boost in upcoming period, key supporting trend of such excessive demand is related to increasing popularity of higher safety rating vehicles.

What are the Various Factors Driving the Anti-Lock Braking System and Electronic Stability Control System Market?

Globally, the increasing sales of passenger vehicles is a key driving factors behind the sales of Anti-Lock Braking System and Electronic Stability Control System. The market is anticipating a return to pre-COVID conditions through increasing sales of passenger vehicles and more public awareness of safety in both passenger and commercial vehicles. Long-term, the growing acceptability of ABS systems is a result of the increased emphasis on safety and anticipated decline in traffic-related fatalities. Road crashes claim the lives of almost 3,300 people every day, and 90% of the casualties take place in low- and middle-income nations, which are home to fewer than half of the world's automobiles.

Nikhil Kaitwade
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Which Factors May Hinder the Global Anti-Lock Braking System and Electronic Stability Control System Market Growth?

Despite numerous growth factors, there are still some that are limiting market expansion. The biggest barrier to the demand for anti-lock brakes and electronic stability control systems in developing nations is a lack of technical knowledge. Because of their high installation costs, these systems raise the overall cost of a vehicle. However, as more of these systems are produced in large quantities and technology advances, the market for energy-efficient braking systems is predicted to grow rapidly in the future.

What is Regional Analysis of Global Anti-Lock Braking System and Electronic Stability Control System Market Share?

Six geographical regions make up the market: North America, Europe, Middle East & Africa, South Asia & Pacific, East Asia, and Latin America. The U.S. and China are the two largest consumers of Anti-Lock Braking System and Electronic Stability Control Systems in the world, together accounting for 35.7% of the market in 2021. The U.S. dominates the global market demand.

The North America region leads the demand for ABS and ESC Systems as U.S. Government has made it mandatory for all the vehicles running on road should be equipped with ABS and ESC systems which has boosted the demand in the region, The U.S. is one of the largest consumer of automotive vehicles owing to which U.S. is expected to hold around 90% of demand generated in North American market.

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Category-wise Insights

Which Vehicle Type why demand is for Anti-Lock Braking System and Electronic Stability Control System in Passenger vehicles?

By Vehicle Type, the passenger car segment is expected to hold the highest market share, Since these safety systems has high penetration in passenger vehicles as well as post COVID period the demand & production for Passenger cars has boosted in global market with increasing penetration of electric vehicles in global sales, as rising sales of EV’s has fuelled the demand for innovative safety systems, resulting in increasing demands for Anti-Lock Braking System and Electronic Stability Control System.

Market Competition

Top market players in the Global Anti-Lock Braking System and Electronic Stability Control System Market include Autoliv Inc., Delphi Automotive Plc, Continental Ag, Robert Bosch GMBH, Denso Corporation, TRW Automotive, ADVICS, Hitachi Astemo, Dongfeng Liuzhou Motor, Wuhu Bethel Electronic Control System Co., Ltd., NASN Automotive Electronics Co., Ltd.

The global market for Anti-Lock Braking System and Electronic Stability Control Systems is highly consolidated with leading players controlling the global market, Market players are continuously making R&D investments to implement cutting-edge technology into their products and offering customers superior products to have an upper hand over its peers. Other tactics are also employed, including partnerships, mergers, contracts, and strategic alliances.

A few key players control the majority of the market share in the fiercely competitive Global Market for Anti-Lock Braking System and Electronic Stability Control Systems. In- Anti-Lock Braking System and Electronic Stability Control System development is heavily funded by the vast majority of companies operating in the Anti-Lock Braking System and Electronic Stability Control System Market, frequently in order to create new and enhanced technology. The primary methods adopted by the leading rivals in the Global Anti-Lock Braking System and Electronic Stability Control System Market are product expansion and mergers and acquisitions.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 4.8% from 2022 to 2032

Base Year for Estimation

2022

Historical Data

2017-2021

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Million, Volume in Units and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends ,and Pricing Analysis

Segments Covered

  • Type
  • Vehicle Type
  • Region

Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Rest of LATAM
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • BENELUX
  • Russia
  • Rest of Europe
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • ANZ
  • Rest of SAP
  • GCC Countries
  • Turkey
  • Northern America
  • South Africa
  • Rest Of MEA

Key Companies Profiled

  • Autoliv Inc.
  • Delphi Automotive Plc
  • Continental Ag
  • Robert Bosch GMBH
  • Denso Corporation
  • TRW Automotive
  • ADVICS
  • Hitachi Astemo
  • Dongfeng Liuzhou Motor
  • Wuhu Bethel Electronic Control System Co., Ltd.
  • NASN Automotive Electronics Co., Ltd.

Customization & Pricing

Available upon Request

Key Segments

By Type, Global Anti-Lock Braking System and Electronic Stability Control System Market is segmented as:

  • Anti-Lock Braking System
  • Electronic Stability Control System

By Vehicle Type, Global Anti-Lock Braking System and Electronic Stability Control System Market is segmented as:

  • Two Wheeler
  • Passenger Vehicle
  • Commercial Vehicle

By Region, Global Anti-Lock Braking System and Electronic Stability Control System Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East & Africa

Frequently Asked Questions

In 2021, the value of the Global Anti-Lock Braking System and Electronic Stability Control System Market reached over US$ 78,029.5 Mn.

During the forecast period, the Anti-Lock Braking System and Electronic Stability Control System Markets estimated to expand at a CAGR of 6.3% during 2022-2032.

The Global Anti-Lock Braking System and Electronic Stability Control System Market is projected to reach US$ 158,406.5 Mn by the end of 2032.

The U.S. is projected to lead the Global Anti-Lock Braking System and Electronic Stability Control System Market in the forecast period.

The key players operating in the Global Anti-Lock Braking System and Electronic Stability Control System Market are Robert Bosch GMBH, Continental AG, Autoliv Inc, Denso Corporation, and TRW automotive.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Global Anti-Lock Braking System and Electronic Stability Control System Market