Anti-lock Braking System Market Forecasts to 2030 – Global Analysis By Product Type (Four-Channel, Four-Sensor and Three-Channel, Three-Sensor and One-Channel, One-Sensor and Other Product Types), Sub System Type (Sensors, Electric Control Unit (ECU), Hyd

Anti-lock Braking System Market Forecasts to 2030 – Global Analysis By Product Type (Four-Channel, Four-Sensor and Three-Channel, Three-Sensor and One-Channel, One-Sensor and Other Product Types), Sub System Type (Sensors, Electric Control Unit (ECU), Hydraulic Unit and Other Sub System Types), Vehicle Type (Two-Wheeler, Passenger Cars, Commercial Vehicles and Other Vehicle Types), Component Type, End User and by Geography

According to Stratistics MRC, the Global Anti-lock Braking System Market is accounted for $59.86 billion in 2023 and is expected to reach $130.68 billion by 2030 growing at a CAGR of 11.8% during the forecast period. Modern cars are equipped with an essential safety feature called the Anti-lock Braking System (ABS), which improves braking efficiency and keeps wheels from locking up during emergency stops. In order to maintain ideal traction between the tires and the road surface, ABS monitors individual wheel speeds and automatically modifies brake pressure. By preserving steering control during severe braking, this technology lowers the possibility of skidding and accidents. Moreover, the majority of cars now come equipped with ABS as standard equipment, which greatly improves road safety by preventing loss of control in difficult braking conditions like slick or uneven pavement.

According to the National Highway Traffic Safety Administration (NHTSA), Anti-lock Braking Systems (ABS) have been proven to significantly enhance vehicle safety by preventing wheel lock-up during braking, thereby reducing the likelihood of skidding and improving overall control in emergency stopping situations.

Market Dynamics:

Driver:

Prioritizing vehicle safety

The market for anti-lock braking systems (ABS) is primarily driven by the growing emphasis on vehicle safety. Automakers are prioritizing the integration of advanced safety features in their vehicles as a result of governments around the world enforcing strict regulations aimed at improving road safety. In order to keep drivers in control of their cars during hard braking, antilock brake systems (ABS) are essential. Additionally, the demand for cars with ABS is predicted to increase as consumers become more aware of safety regulations, which will greatly fuel the expansion of the ABS market.


Restraint:

Repair and maintenance complexity

The adoption of ABS is also hampered by the difficulty of repair and maintenance. ABS is an advanced safety technology, but because of its many moving parts and complex electronic systems, repair technicians may find it difficult to work on it, and maintenance procedures will become more complicated. For owners of vehicles, this may result in increased maintenance expenses and extended downtime. Furthermore, due to this, some customers might be reluctant to use ABS because they are worried about possible repair difficulties and related costs, which could hinder the adoption of this safety technology.

Opportunity:

Increasing priority for vehicle connectivity

There is a big chance for the anti-lock braking system (ABS) market due to the growing emphasis on vehicle connectivity. Improved communication between ABS systems and other vehicle systems is made possible by integration with connected car technologies. The enhanced system performance that can result from this connectivity can be attributed to data-driven insights, predictive maintenance, and real-time monitoring. Moreover, ABS can use connectivity to provide cutting-edge features and support a more intelligent and integrated safety ecosystem as the automotive industry embraces the era of smart vehicles.

Threat:

Consumer spending and economic downturns

The market for anti-lock brake systems (ABS) is vulnerable to economic downturns because consumers may become more price-sensitive, which could result in a drop in car sales. The demand for cars with ABS systems may be impacted by consumers prioritizing basic transportation requirements over extra safety features during uncertain economic times. Additionally, the ABS market may be seriously threatened by changes in consumer spending habits and a decreased inclination to spend money on optional car features when times are hard.

Covid-19 Impact:

The COVID-19 pandemic had a major effect on the market for anti-lock braking systems (ABS), leading to production disruptions, difficulties in the supply chain, and a decrease in consumer purchasing power. The demand for ABS was directly impacted by a decline in vehicle sales and production as a result of lockdowns, production halts, and travel restrictions. The availability of ABS components was impacted by supply chain disruptions experienced by automakers. Furthermore, as consumers prioritized necessities over optional safety features, such as ABS, the adoption of these features declined due to lower consumer spending and economic uncertainty.

The Electric Control Unit (ECU) segment is expected to be the largest during the forecast period

In the market, the Electric Control Unit (ECU) has the largest share. The engine, transmission, and safety systems like the anti-lock braking system (ABS) are just a few of the functions that the electronic control unit (ECU) monitors and coordinates. It acts as the brains of the car's electronic control systems. The need for sophisticated ECUs has increased dramatically as modern vehicles integrate more and more advanced technologies. Moreover, as an essential part of today's automotive landscape, the ECU is responsible for optimizing vehicle performance, fuel efficiency, and safety features.

The Speed Sensors segment is expected to have the highest CAGR during the forecast period

In the market, the speed sensor segment is growing at the highest CAGR. Speed sensors are essential to many automotive applications, such as electronic stability control, traction control, and anti-lock braking systems (ABS). Additionally, speed sensors are in more demand due to strict laws, a growing emphasis on vehicle safety, and the growing use of advanced driver assistance systems (ADAS). By giving precise control over braking and stability systems, these sensors provide real-time data on wheel speeds.

Region with largest share:

Europe has the largest market share in the market. Important nations like Germany, the UK, France, and Italy are crucial for the production of automobiles, innovation, and consumer demand. Particularly, Germany is well known for producing high-end, high-performance automobiles. High emphasis is placed on engineering excellence, environmental sustainability, and strict adherence to safety regulations in the European automotive market. Furthermore, the demand for advanced safety features, such as anti-lock braking systems (ABS), is driven by European consumers' preference for them.

Region with highest CAGR:

The region with the highest market CAGR is Asia-Pacific. Rapid urbanization, the expansion of the middle class, and rising consumer demand for automobiles in Southeast Asian, Chinese, and Indian nations are all blamed for this strong growth. The region's remarkable growth is further supported by its proactive adoption of cutting-edge automotive technologies, such as connected systems and electric vehicles. Moreover, the dynamic expansion of the automotive market in Asia-Pacific is facilitated by government initiatives, infrastructure investments, and a thriving automotive ecosystem.

Key players in the market

Some of the key players in Anti-lock Braking System market include Nissin Kogyo Co., Ltd, Denso Corporation, Hyundai Mobis, Advics Co. Ltd., Robert Bosch GmbH, Hitachi Automotive Systems Ltd, Wabco Ltd., Mando Corporation and Continental AG.

Key Developments:

In August 2023, Hyundai Mobis, part of the Hyundai Motor Group, has secured a big contract from Volkswagen AG for EV components. The agreement is mainly for the Battery System Assembly (BSA). This is a product that puts together a battery pack with the battery management system (BMS) and other parts. It’s made to make sure the battery in an electric vehicle works well and safely.

In July 2023, DENSO Corporation and Toyota Tsusho Corporation announced that TD Mobile Corporation (TD Mobile), which is a joint venture of DENSO and Toyota Tsusho has concluded a company split agreement with a newly established subsidiary of ranet Co.,Ltd. (ranet) in relation to its cell phone sales and agency business. TD Mobile will transfer the above business to the new subsidiary as a result of the company split.
In March 2023, Hitachi Energy and Gulf Cooperation Council Interconnection Authority (GCCIA) announced today the signing of a contract to upgrade the Al-Fadhili high-voltage direct current (HVDC) converter station under the GCCIA authority in Saudi Arabia. Its mission is to create a resilient interconnected grid, ensuring power security, and economic benefits.

Product Types Covered:
• Four-Channel
• Four-Sensor and Three-Channel
• Three-Sensor and One-Channel
• One-Sensor
• Other Product TypesSub System Types Covered:
• Sensors
• Electric Control Unit (ECU)
• Hydraulic Unit
• Other Sub System Types
Vehicle Types Covered:
• Two-Wheeler
• Passenger Cars
• Commercial Vehicles
• Other Vehicle Types
Component Types Covered:
• Controllers
• Pumps
• Valves
• Speed Sensors
• Other Component TypesEnd Users Covered:
• OEM
• Replacement Demand
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
JapanChinaIndiaAustralia
New Zealand
South Korea
Rest of Asia Pacific• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances