Anti-lock Braking System Market is expected to reach $44.5 billion by 2024 with emerging CAGR of 7.1 %. The passenger car market segment is expected to drive the global anti-lock breaking system market for further growth.
Anti-lock breaking system (ABS) is advance braking system for automobiles which prevents skidding of vehicles by performing sequential braking controlled by a microcontroller. The microcontroller is fed by real-time data regarding the vehicle such as, speed and momentum of the vehicle. Maintaining the steering ability over the wet and rough surface is the most important function of the ABS. ABS can be used in traditional as well as electric vehicles. Leading automobile manufacturers are introducing ABS to their entry level vehicles which is expected to boost the market growth for global Anti-lock Braking System market.
The global ABS market is driven by the factors such as, rising demand for advance safety features, technological advancements, and rapidly growing automotive market. Further, stringent government safety rules & regulation is also one of the prominent factors to boost the growth of global ABS market. For instance, the Road Transport Ministry of the India reported for compulsion of ABS in every motorcycle by end of 2018. However, the high per unit cost of ABS units will restrain the market. The advance technological innovation along with reduction in per unit cost of ABS is expected to unfold numerous opportunities for the market growth within untapped Asia-pacific market.
The global ABS market is highly fragmented due to presence of several local and international vendors and manufacturers. The market is largely dependent on automobiles sales and dominated by intense competition. New product innovation and development are key strategies adopted by key vendors to gain more market share within global ABS market. For instance, Robert Bosch GmbH, a leader in ABS market has launched ABS for bicycle users, in July 2017.
Download Free Sample Report: https://www.fiormarkets.com/report-detail/124437/request-sample
The global ABS market is segmented on the basis of subsystem, vehicle type, and region. Sensors, electronic control unit (ECU), and hydraulic unit are further segmentation of subsystem. Vehicle is further categorized into two wheelers, passenger cars, and commercial vehicles. The global market has been segmented into North America, Europe, Asia-Pacific, and RoW (Latin America, Middle East, and Africa) based on the geographical market.
The prominent players profiled in the report are Robert Bosch GmbH, Continental AG, Autoliv Inc, Nissin Kogyo Co., Ltd., Wabco, ZFTRW, Hyundai Mobis Co., Ltd, Denso Corporation, Hitachi Automotive Systems Ltd, and Advics Co., Ltd.
Anti-lock Braking System Market Segmentation
The market is segmented on the basis of Component, Vehicle Type and Geography.
Electronic Control Unit (ECU)
By Vehicle Type
Rest of Europe
Rest of Asia-Pacific
To Get Full Report Visit @ https://www.fiormarkets.com/report/anti-lock-braking-system-market-by-sub-system-sensors-124437.html
Key Market Players
Robert Bosch GmbH
Nissin Kogyo Co., Ltd.
Hyundai Mobis Co., Ltd
Hitachi Automotive Systems Ltd
Advics Co., Ltd.
To Read Similar Reports Visit @ http://www.albaniantimes.com/
Company Name: Fior Markets
Contact Person: Mark Stone
Address:Office 102, Aspirations, Baner Road Baner