Anti-Lock Braking System (ABS) Market 2021, Industry Size, Growth Rate, Share, Supply Chain Analysis, Impact of COVID-19, Development Status, Risk and Challenges 2030

In a recent published report, Kenneth Research has updated the market report for Anti-Lock Braking System (ABS) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Anti-Lock Braking System (ABS) Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

Global Anti-Lock Braking System (ABS) Market is estimated to reach $49 billion by 2024; growing at a CAGR of 8.1% from 2016 to 2024. Anti-lock braking system prevents a person from slipping or skidding of a vehicle, and retain steering control after hard braking. ABS are mainly used to assist vehicles for safe braking and easy steering in emergency situations such as, wet or slippery road. Stringent safety laws and regulations implemented by various transport authorities and rise in consumer awareness regarding safety features in the automobiles, is fuelling the growth of the market globally. For instance, the European Union Parliament has mandated the use of ABS in two wheelers having engines above 125 cc by 2016 which has led to surge in demand for anti-lock braking system in the region.

Some of the major drivers of global anti-lock braking system market are increase in demand for safety features in vehicles. Moreover, technological advancement in automotive industry has also supplemented the growth of the market. However, high maintenance cost of anti-lock braking systems may hamper the market growth in the coming years. Expansion in untapped markets of developing economies such as Indonesia, and Brazil and development of advanced braking systems for two wheelers would generate attractive business opportunities for the market in the coming years. The global anti-lock braking system market is segmented by sub-systems and vehicle type. Sub-systems segment includes sensors, ECU, and hydraulic unit. By vehicle type, the market is bifurcated into two-wheelers, passenger cars, and commercial vehicles.

Geographically, the global anti-lock braking system market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK, Italy, and others. Asia-Pacific covers China, India, Japan, Australia, and others. Rest of the World (RoW) covers South America, Middle East and Africa.

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Major companies operating in the anti-lock braking system market are Robert Bosch GmbH, Autoliv Inc., WABCO, Hyundai Mobis, ZF TRW, Denso Corporation, Hitachi Automotive Systems, Ltd., Nissin Kogyo Co., Ltd., Continental AG, and ADVICS Co., Ltd., among others.

The key takeaways from the report:
The report will provide detailed analysis of Anti-Lock Braking System Market with respect to major segments such as sub-systems type, and vehicle type. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities of the global Anti-Lock Braking System Market. An exhaustive regional analysis of Anti-Lock Braking System Market from 2015 to 2024 has been included in the report.

Profile of the key players in the Anti-Lock Braking System Market, will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Anti-Lock Braking System Market:
Sub-Systems Type Segments
Hydraulic Unit
Vehicle Type Segments
Passenger Cars
Commercial Vehicles

Geographical Segments
North America

South America
Middle East

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